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After a generous post-election day payout, even more money is flowing into an Elon Musk company.
His company xAI, the startup that brought you “Grok,” is raising $6 billion to reportedly buy 100,000 Nvidia chips, CNBC reported. The funding round will value Musk’s company at $50 billion, making it the 6th most valuable startup in the world.
Musk’s AI to-do list is long: With the president-elect in his back pocket, and his own chatbot company swimming in investor money, Musk is doubling down on his fight with OpenAI and its CEO Sam Altman. In an amendment to his lawsuit against the rival AI company filed this week, Musk expanded antitrust accusations and added Microsoft (and its VP Dee Templeton) as well as LinkedIn co-founder Reid Hoffman as defendants.
Some history: Musk co-founded OpenAI in 2015 with a group that included Altman and Greg Brockman, but left in 2018. Earlier this year, he sued the company, alleging it created an unfair monopoly in the AI space and flipflopped on its initial open source promises. He dropped the suit three months later, but brought it back in August, beefed up with even more alleged wrongdoings. OpenAI called the complaints a “PR stunt.”—MM