Elon Musk said on Wednesday his artificial intelligence company xAI was not raising funds “right now,” a day after the startup filed with the US securities regulator to raise up to $1 billion in an equity offering.
The company has raised $134.7 million in equity financing from a total offering amount of $1 billion, the filing with the Securities and Exchange Commission showed on Tuesday.
Replying to a post on X by Deepwater Asset Management’s Gene Munster regarding the financing, Musk said: “We are not raising money right now.”
Munster’s post had said the fundraising meant Musk wanted to compete with OpenAI and Anthropic.
![xAI logo](https://nypost.com/wp-content/uploads/sites/2/2023/12/2023-suqian-jiangsu-province-china-13983794.jpg?w=1024)
Reuters could not independently verify if the startup is currently raising funds or not.
Investments into AI-linked startups have surged this year following chatbot ChatGPT’s success and its parent OpenAI’s $10 billion fundraise from Microsoft.
Musk launched xAI in July this year in response to Big Tech’s AI efforts, which he has criticized for excessive censorship and a lack of adequate safety measures.
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