Elon Musk’s company receives $6 billion in investments

Elon Musk’s company receives $6 billion in investments
Elon Musk’s company receives $6 billion in investments

The company intends to use these funds to commercialize its products, build advanced infrastructure and accelerate the development of future technologies, xAI highlighted on its website. This is one of the largest investments in the development of Artificial Intelligence (AI) tools.

Musk was an early backer of OpenAI, the creator of ChatGPT, but later criticized the company for introducing several controversial measures. In March 2023, Tesla and Twitter boss and a group of technology experts called for a six-month pause in the development of advanced AI systems, warning of the “risks to society” posed by the new technology.

The group claimed in a petition that AI systems with human competitive intelligence can put “society and humanity” at risk. In July, Musk announced the creation of xAI before launching a rival tool to ChatGPT, called Grok, four months later.

The increase in funding directed towards AI raises fears of a collapse of the rest of the categories of the technology sector, according to several analysts. Rising interest rates and the post-pandemic crisis have dampened venture capital funding, making AI one of the only bright spots in the venture capital world.

So-called generative AI technology has dazzled users and investors with its ability to generate photorealistic images and human-sounding text in response to just a few words. Some venture capitalists have likened the AI ​​boom to the advent of the consumer internet.

As an example, Microsoft invested around $13 billion in OpenAI, while Amazon invested nearly $4 billion in Anthropic.

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