Elon Musk's X.AI AI Startup Aims to Raise $1 Billion in Equity

Elon Musk's artificial intelligence startup, X.AI, has filed with the SEC to raise up to $1 billion in an equity offering. The company has already secured $135 million from four investors and has a binding agreement for the purchase of the remaining shares. X.AI recently released a chatbot called Grok, which aims to compete with other AI systems like OpenAI's ChatGPT and Google's Bard technology. X.AI is one of the many companies owned or led by Musk, who also heads Tesla, SpaceX, the Boring Company, and Neuralink.