Since the launch of OpenAI’s ChatGPT in 2022, the tech scene has been bustling with each company geared up to create their versions of generative AI. Industry titans, including Google, Alibaba, and Meta are actively striving to develop their equivalents to ChatGPT. Startups like Anthropic, with investments from Google, and Stability AI are also making noteworthy advancements in this domain.
Eyes more investment
One of the companies working in this segment is xAI, Elon Musk’s rival to OpenAI’s ChatGPT. It is all set to raise a funding round that could push its valuation to around $40 billion, claims The Wall Street Journal report. It notes that the funding discussions are in the preliminary stages and could change in the future. This follows the $6 billion Series B funding raised a few months back valuing it at $24 billion.
The previous investment was aimed at bringing its first AI products to market, signalling a shift from research and development to commercialisation. Further, the funding was said to fuel research and development efforts, allowing xAI to push the boundaries of AI technology.
The inception of xAI
Musk founded xAI in 2023 after recognizing the success of generative AI tools like ChatGPT. whose parent company OpenAI was co-founded by him in 2015. However, he quit the company in 2018. xAI’s team comprises high-profile AI researchers from elite organisations like OpenAI, Google DeepMind, and Google Brain. Key members include:
- Igor Babuschkin: A former researcher at DeepMind, Babuschkin brings a strong background in machine learning and reinforcement learning.
- Manuel Kroiss: Previously associated with DeepMind, Kroiss specialises in language processing and AI safety.
- Christian Szegedy: Another experienced AI researcher, Szegedy previously worked on deep learning at Google.
The team’s credentials signal Musk’s commitment to creating a top-tier AI research hub capable of pushing the boundaries of machine intelligence.
A Mystery in the Making?
There are rumors circulating about Elon Musk’s potential involvement in a crypto project under the xAI Token brand could harness AI for blockchain or crypto innovations. While details are scarce, this initiative may explore AI’s role in creating more secure, efficient, or decentralized financial ecosystems. If this aligns with Musk’s other ventures, it may focus on enhancing transaction transparency and scalability using AI-driven technology.
For insights, you may consider the possibility of Musk sharing such a project on X or through announcements from xAI. This mystery project has certainly piqued industry curiosity.
Grok, a ChatGPT rival from xAI
Elon Musk offered a preview of his company’s chatbot dubbed Grok alongside releasing the foundational AI model. Shorty, it came up with Grok-1.5, an improved version with long-context capabilities. Most recently, it unveiled Grok-1.5V, which incorporates image understanding functionalities.
As per Musk, Grok is both smarter and funnier than its rivals and can answer spicy questions that are rejected by most other AI systems. During its preview, Musk said that the xAI startup would be integrated into his social media platform X, and also be available as a standalone app.
Advocate for safe AI development
Musk’s advocacy for “AI safety” has been central to his involvement with xAI, and he often voices concerns that unrestricted AI could pose existential threats to humanity. The company’s core mission is to create AI that serves humanity’s understanding of the universe, with Musk describing it as truth-seeking.
This focus on uncovering objective truths reflects Musk’s view that AI should be developed to benefit human knowledge rather than strictly commercial purposes. The company’s purpose contrasts with the more commercially-driven missions of companies like OpenAI or Google DeepMind, aiming instead for a safer, more cautious AI evolution.
What do we think about xAI?
The substantial funding raised by xAI demonstrates the increasing importance of responsible AI development. The company’s rapid progress in AI model development, open-source approach, and focus on truthful and beneficial AI position it as a significant player in the future of AI.
While further details about xAI’s leadership and specific products remain to be revealed, this potential investment suggests that their work will be closely watched.
