Elon Musk, the world's wealthiest individual and a crypto enthusiast, has refuted the accuracy of a report on his social media platform, X, which claimed that Musk's firm, xAI, had achieved $500 million out of its $1 billion fundraising goal.
Musk responded to a user's inquiry on X about investments made by stakeholders in his artificial intelligence firm, xAI, categorically denying any investment in his company.
It is noteworthy that in November, Elon Musk Twitter News had announced that equity investors in X would receive a 25% ownership stake in xAI.
This implied that if investors had invested $10 billion in X, they would be incentivized to invest $2.5 billion or more in xAI. Moreover, Elon Musk has also updated about the payment services on X, which will get started by mid-2024.
Elon Musk has consistently considered his xAI superior to Google and OpenAI from the outset. The inception of xAI Elon Musk was presented as an alternative to OpenAI, where Musk launched his chatbot Grok to compete with OpenAI's ChatGPT.
While ChatGPT has data only up to 2019, Grok has access to the data from Musk's social media platform X, which is more up-to-date. Although OpenAI's GPT-4 also provides information with current data, Grok and ChatGPT have been continuously compared, with both having distinct features.
The difference lies in their information collection, as they gather data from different sources, making them unique from each other.
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