Musk Seeks $1B for xAI to Keep Pace in AI Arms Race Despite His Own Warnings

Elon Musk is seeking to raise $1 billion in equity financing for his artificial intelligence startup xAI, aiming to keep pace with rivals like OpenAI, Microsoft and Google. The race to develop advanced generative AI has intensified as tech giants battle for supremacy in the field.

xAI has already raised $135 million from investors. The new funding could value the company at over $1 billion as it competes with well-funded competitors.

Microsoft recently announced a $10 billion investment in OpenAI after the huge impact of its ChatGPT chatbot. Amazon is investing up to $4 billion in AI startup Anthropic. Google has also backed Anthropic and other AI firms.

Musk's xAI launched its first AI product in November - an AI chatbot called Grok with a rebellious personality. Grok will be available to premium subscribers on Musk's X platform, formerly known as Twitter.

The billionaire sees AI as one of humanity's biggest threats. But his xAI startup is pushing boundaries to keep up with Big Tech rivals. Advanced AI like autonomous chatbots have risks if not developed carefully.

Some believe AI firms should have public oversight to protect society. The race for artificial general intelligence has raised concerns. But Musk aims to be at the forefront, seeking massive funding for xAI.

Hot Take: The AI arms race among tech giants carries big risks if not guided ethically. But Musk shows even fiery critics like him see advanced AI as vital for competitiveness. His bid to rapidly fund xAI could yield game-changing tech. But it requires caution to steer powerful AI safely.