Elon Musk denies reports he’s raising billions for xAI

Published

2 years ago

January 27, 2024

Elon Musk has hit out at reports that he’s gearing up for a formidable challenge against OpenAI with substantial financial backing.

Reports suggest that his competitor, xAI, is in discussions to raise up to $6 billion, aiming for a proposed valuation of $20 billion, according to the Financial Times.

Breaking news: Elon Musk’s xAI is in talks to raise up to $6bn. The billionaire’s artificial intelligence start-up has courted wealthy individuals and investors around the world in recent weeks, according to multiple people familiar with the matter https://t.co/kKaa7SEPp1 pic.twitter.com/TaFIKDEQD0

— Financial Times (@FT) January 26, 2024

Sources familiar with the matter have indicated that Musk has been engaging with family offices in Hong Kong and targeting sovereign wealth funds in the Middle East as potential sources of funding.

This new fundraising goal significantly exceeds the initial target of $1 billion that xAI had set just last month, as per a filing with the U.S. Securities and Exchange Commission.

But in a Tweet on X, Elon Musk refuted the reports, saying “xAI is not raising capital and I have had no conversations with anyone in this regard.

xAI is not raising capital and I have had no conversations with anyone in this regard https://t.co/KyjeqnW9eu

— Elon Musk (@elonmusk) January 26, 2024

Ambitious fundraising

xAI has managed to secure $135 million toward its fundraising objective.

Last week, Musk refuted claims that his xAI startup had already garnered $500 million in commitments from investors toward the $1 billion goal, asserting that such reports were inaccurate.

In November, xAI introduced its AI chatbot, Grok, which competes with OpenAI’s ChatGPT.

Grok is designed to respond to queries with humor and a touch of rebellion, with the company advising against its use “if you hate humor.”

While xAI’s valuation of $20 billion remains a fraction of OpenAI’s, it aligns closely with Anthropic’s valuation of $18 billion in the AI space.

Thriving AI

Despite a slowdown in overall startup funding, AI continues to thrive.

Global funding for AI startups reached $50 billion in 2023, marking a 9% increase from the previous year, according to market research firm Crunchbase.

This surge in interest from tech leaders underscores the growing importance of AI technology.

Ariane 64 takes flight carrying Amazon’s broadband satellites

Ariane 64’s maiden launch from French Guiana carries 32 Amazon satellites, starting 18 missions to enhance global broadband access.

Published

3 days ago

February 11, 2026

Harvey Vargas

Ariane 64’s maiden launch from French Guiana carries 32 Amazon satellites, starting 18 missions to enhance global broadband access.

Europe is entering a new spaceflight era as the Ariane 64 prepares for its maiden launch from French Guiana. The rocket, the most powerful ever developed in Europe, features four boosters and is capable of delivering more than 20 tonnes into low Earth orbit.

The launch window opens at 4:45 p.m. UTC and closes at 5:13 p.m. UTC, with the mission expected to last one hour and 54 minutes. During the flight, satellites will be deployed in pairs, marking a critical technical milestone for Europe’s space ambitions.

This first flight is a major test for the Ariane 6 program, setting the tone for future commercial and institutional launches from Europe’s space sector.

#SpaceLaunch #Ariane6 #AmazonSatellites #LEO #SpaceTech #BroadbandFromSpace #RocketScience #TickerNews

Tech

SpaceX shifts focus to Moon with ambitious Lunar City plans

Elon Musk shifts SpaceX focus from Mars to a 2027 Moon landing, merging with xAI for AI satellite networks.

Published

4 days ago

February 10, 2026

Harvey Vargas

Elon Musk shifts SpaceX focus from Mars to a 2027 Moon landing, merging with xAI for AI satellite networks.

Elon Musk has set his sights closer to home—literally. SpaceX is now prioritizing the creation of a self-sustaining city on the Moon within the next decade. The ambitious plan marks a major shift from previous Mars-focused strategies, aiming for an uncrewed Starship landing as early as 2027 to support NASA’s Artemis program.

This pivot comes as SpaceX merges with Musk’s xAI, combining the companies into a massive $1.25 trillion valuation. Musk believes the Moon offers practical advantages for launches, making it a more strategic stepping stone for humanity’s future in space.

Alongside lunar ambitions, SpaceX is also developing satellite networks to back AI technologies in orbit. Despite the excitement, NASA’s Artemis program has faced delays, pushing the first crewed lunar flight to March due to technical issues.

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Tech

Claude AI is transforming software engineering and productivity

Anthropic’s Claude AI now manages coding tasks, boosting productivity by 50% as engineers shift to oversight roles.

Published

5 days ago

February 9, 2026

Harvey Vargas

Anthropic’s Claude AI now manages coding tasks, boosting productivity by 50% as engineers shift to oversight roles.

Anthropic has confirmed that its AI, Claude, now handles almost all coding tasks at the company. Engineers are shifting from writing code to oversight and planning, marking a major change in how software development teams operate.

Users report a productivity boost of 50 percent since implementing Claude, highlighting the potential of AI to reshape workflows and day-to-day operations. The shift raises questions about the balance between human oversight and automated code generation.

The move has also affected markets, with shares of Indian IT services companies falling as investors assess the impact on traditional tech roles. Industry leaders stress that while AI can generate code, human input remains crucial for design, review, and strategic decision-making.

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