Musk refutes rumors that xAI has received $500 million in investment commitments

Citing sources from Bloomberg, it has been revealed that xAI, an artificial intelligence company owned by Musk, has received a commitment of $500 million in investment to achieve its $1 billion financing goal. The company is discussing a valuation of $15 billion to $20 billion, but terms may still change in the coming weeks. Musk responded on Twitter, calling it fake news spread by Bloomberg.

Musk

Comments

All Comments

Recommended for you

Cointime精选 ·

‘We’re just scratching the surface’ of crypto and AI — Microsoft exec

The symbiotic relationship between AI and crypto is still in its nascent stages, according to tech execs.
Cointime精选 ·

Big miners pose a growing existential threat to Bitcoin

As of May, AntPool and Foundry USA controlled more than 50% of Bitcoin's hash rate. That could become a problem for Bitcoin users in the near future.
Cointime精选 ·

Bybit’s Notcoin listing debacle, China firm’s profits up 12-fold after crypto buy: Asia Express

Bybit CEO apologises for Notcoin listing woes, Hong Kong crypto ETFs dissapoint, China firm's profits surge 1100% after crypto buy
Cointime精选 ·

Is onboarding too hard? Crypto adoption still faces major obstacles

Progress has been made in streamlining the Web3 onboarding process, but the flood of mainstream users has not yet arrived.
Cointime精选 ·

What the DOJ’s First MEV Lawsuit Means for Ethereum

In a highly technical overview of an exploit that has since been patched, government prosecutors find that exploiting code is a crime. CoinDesk reached out to several experts in the Ethereum community to get their views on the case.
Cointime精选 ·

Bitcoin is getting stronger (within crypto)

From the bear market until now Bitcoin has seen its dominance go from 38% all the way to now 53% pretty much in a straight line.
Cointime精选 ·

Enter The Sanctum

Everybody gets a stake.
Cointime精选 ·

Lightning In A High Fee Environment: Implications for Bitcoin’s Scalability

The topic of scaling Bitcoin dates back to its very first mailing post. In response to Satoshi’s original message, James McDonald said, “We very, very much need such a system, but the way I understand your proposal, it does not seem to scale to the required size” — a remark that probably wasn’t the welcome Satoshi had anticipated. Nonetheless, this marked the beginning of a seemingly never ending, complex debate.
Messari ·

Optimism Q1 2024 Brief

Optimism (OP) is a Layer-2 Ethereum scaling protocol. It aims to increase Ethereum’s transaction throughput while decreasing transaction costs via Optimistic Rollups.
Blockchain Asset Management announces launch of a dedicated blockchain fund for accredited investors

Blockchain Asset Management, a cryptocurrency fund with a scale of $100 million, announced the launch of an exclusive blockchain fund for qualified investors. The specific amount of funds raised by the fund has not been disclosed yet, but it is said to have reached "eight figures", which means it is in the tens of millions of dollars. In addition, the investment threshold for the new fund is $100,000, and all investors are required to meet the approved standards (annual income exceeding $200,000, net assets exceeding $1 million).