tl;dr
Elon Musk denied on Wednesday that his secretive artificial intelligence startup, xAI, is raising money. In response to a tweet from a venture capitalist, Musk said xAI, which recently released its generative AI chatbot, Grok, is not raising money "right now." On Tuesday, xAI said it was looking to ...
Elon Musk denied on Wednesday that his secretive artificial intelligence startup, xAI, is raising money. In response to a tweet from a venture capitalist, Musk said xAI, which recently released its generative AI chatbot, Grok, is not raising money "right now." On Tuesday, xAI said it was looking to raise up to $1B in an equity offering and had already raised $134.7M in financing, according to a filing with the Securities and Exchange Commission. The filing listed the minimum investment accepted by any outside investor as $2M. In July, Musk, who already heads up Tesla (NASDAQ:TSLA), SpaceX (SPACE), owns X (formerly known as Twitter), and has involvement in The Boring Company and Neuralink, unveiled xAI. Grok competes with ChatGPT, which is owned and operated by OpenAI. Microsoft (MSFT), via a "multi-billion" dollar investment into OpenAI earlier this year, reportedly owns 49% of the company. The goal of the Musk-led xAI is to understand "the nature of the universe" and to help humanity "understand reality."
More about Tesla Inc
Tesla Inc is an American electric vehicle and clean energy company based in Palo Alto, California. In 2020, the company captured 16% of the plug-in market and 23% of the battery-electric market, making it a leader in the industry. Tesla Energy, a subsidiary, is a major installer of solar photovoltaic energy generation systems in the United States and one of the largest global suppliers of battery energy storage systems, supplying 3 GWh of battery storage in 2020. The company's stock performance has seen fluctuations, with a current market value of $75.78 and a P/E ratio of 30.28. Market sentiment towards Tesla Inc has been mixed, with some optimism about its position in the electric vehicle and clean energy market, but also concerns about potential risks and uncertainties in the industry.
More about Microsoft Corporation
Microsoft Corporation is a leading American multinational technology company, specializing in computer software, consumer electronics, and related services. With a market cap of $2.74 trillion and a current stock price of $404.22, Microsoft has shown a steady 10.3% annual growth rate. The company's stock performance has been bullish, with a Relative Strength Index (RSI) of 29.35, indicating a strong buying momentum. The stock is currently trading above its 50-day and 200-day moving averages, signaling a positive trend. The services-prepackaged software industry has seen a 0.272 increase in market sentiment, indicating a favorable outlook for Microsoft's future performance. However, it's important to note that past market behavior is not always a reliable indicator of future performance, and there are potential risks and uncertainties associated with investing in the stock market.
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