In the most recent investment round, Elon Musk's AI business is aiming for a $18 billion value

According to a report published by Bloomberg News on earlier today, Elon Musk's artificial intelligence (AI) business, X.AI Corp., is anticipated to conclude its investment round this week at an estimated valuation of $18 billion.

Although the exact amount to be raised is still unknown, Bloomberg recently revealed that Sequoia Capital was involved in the round, which was aiming to reach $6 billion. Details like time and value are still subject to change.

Using a presentation that showcased Musk's accomplishments with Tesla and SpaceX, the OpenAI rival presented its investment round to investors, stressing that xAI will use premium data from X, the old Twitter.

Large language models (LLMs) are the foundation of AI chatbots, and xAI may be able to compete with other well-funded rivals like OpenAI, the company that makes ChatGPT, thanks to this access to data.

(Sources: investing.com, bloomberg.com)