Elon Musk's xAI raises $10 billion in debt and equity as it steps up challenge to OpenAI
Publishing timestamp: 2025-07-01 08:37:27
Summary
xAI, Elon Musk's AI startup, raised $5 billion in debt and $5 billion in equity to develop its AI infrastructure and Grok chatbot. The funding will help xAI compete against rivals like OpenAI and Anthropic. Musk has also made controversial statements about Grok being "maximally truth-seeking" and "anti-woke."
Sentiment: NEUTRAL
Keywords: advanced micro devices inc, morgan stanley, nvidia corp, social media, artificial intelligence, business news, generative ai, technology, amazon.com inc, internet, elon musk,
Source: https://www.cnbc.com/2025/07/01/elon-musk-xai-raises-10-billion-in-debt-and-equity.html