Elon Musk’s innovative AI venture, xAI, is gearing up to launch a standalone app for consumers, creating a buzz in the tech world. This new app is expected to function similarly to OpenAI’s popular ChatGPT app, giving users the opportunity to interact with xAI’s Grok chatbot on their personal devices.
The release of this app is anticipated to follow the closure of xAI’s next major funding round. Predictions suggest this round could raise up to $5 billion, potentially doubling the company’s valuation to a staggering $50 billion, as reported by the Financial Times. In a strategic move, Musk has reportedly rewarded investors from his Twitter acquisition with a 25% stake in xAI, acknowledging their unwavering support.
Notably, some prominent backers, including Fidelity, Oracle co-founder Larry Ellison, and Twitter founder Jack Dorsey, are likely to see considerable returns on their investments in xAI, thanks to the company’s monumental growth.
Upon finalizing the upcoming funding round, xAI will have amassed approximately $11 billion, setting the stage for exciting developments as they prepare to introduce this groundbreaking app to the public. This launch not only reflects xAI’s impressive growth trajectory but also highlights the increasing demand and competition within the AI landscape.
