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Elon Musk's xAI raises $10 billion in debt and equity as it steps up challenge to OpenAI - TL;DR CNBC

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

Tickers: NVDAAMZNAMD

Keywords: advanced micro devices incmorgan stanleynvidia corpsocial mediaartificial intelligencebusiness newsgenerative aitechnologyamazon.com incinternetelon musk

Source: https://www.cnbc.com/2025/07/01/elon-musk-xai-raises-10-billion-in-debt-and-equity.html


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