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.

AI drives memory prices higher as SK hynix and TSMC expand

Explore the rising global memory market driven by AI demand and hear insights from Brad Gastwirth on industry trends.

Published

13 hours ago

January 14, 2026

Harvey Vargas

Explore the rising global memory market driven by AI demand and hear insights from Brad Gastwirth on industry trends.

The global memory market is on the rise, with prices climbing steadily thanks to booming AI infrastructure demand.

Companies like SK hynix and TSMC are investing heavily in advanced packaging and new facilities to meet this unprecedented growth.

We speak with Brad Gastwirth from Circular Technologies about the forces behind this upward momentum. From the difference between AI-driven and consumer-driven demand to the increasing memory requirements per AI system, Brad breaks down the trends shaping the industry.

We also explore the implications of lean DRAM and NAND inventories, disciplined supply growth, and the challenges of expanding packaging capacity versus wafer fabrication. Tune in to understand why incremental demand surprises can have a huge impact on memory pricing.

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#AIMemory #SKHynix #TSMC #TechInvesting #MemoryMarket #AIInfrastructure #Semiconductors #TickerNews

Tech

Nvidia unveils AI that could transform gene editing and healthcare

Nvidia’s EDEN AI models for gene editing could revolutionize treatment of genetic diseases, enhancing DNA modifications amid healthcare advancements.

Published

15 hours ago

January 14, 2026

Harvey Vargas

Nvidia’s EDEN AI models for gene editing could revolutionize treatment of genetic diseases, enhancing DNA modifications amid healthcare advancements.

Nvidia has introduced revolutionary AI models for programmable gene insertion at the J.P. Morgan Healthcare Conference.

The AI platform, EDEN, is designed to enhance DNA modifications and could pave the way for treatments of previously untreatable genetic diseases.

This initiative is part of Nvidia’s broader push into healthcare, including a $1 billion partnership with Eli Lilly to develop an AI-driven drug discovery lab. Early testing has shown promising results, with models designing proteins that precisely target disease-related sites in human cells.

While the breakthroughs are significant, experts caution that challenges remain in translating AI-generated therapies into real-world clinical applications. The future of medicine could be rewritten if these hurdles are overcome.

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#NvidiaAI #GeneEditing #HealthcareInnovation #DNA #EDENPlatform #AIinMedicine #Biotech #DrugDiscovery

Tech

Global memory chip shortage set to drive electronics prices higher

Global memory chip shortage raises electronics prices; impacts PCs, smartphones, and likely continues until 2026.

Published

6 days ago

January 9, 2026

Harvey Vargas

Global memory chip shortage raises electronics prices; impacts PCs, smartphones, and likely continues until 2026.

A severe global shortage of memory chips is sending shockwaves through the electronics industry, causing prices to rise across consumer devices. Experts warn that this shortage will continue until at least 2026, affecting everything from PCs to smartphones.

Major manufacturers, including Samsung Electronics, have reported record profits but caution that rising memory chip prices could put further pressure on the sector. This shortage is largely driven by AI technology demands, forcing companies to rethink production priorities.

Consumers should expect higher costs for electronics in the coming months, with price increases likely to continue through the end of 2026.

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#ChipShortage #ElectronicsPrices #SamsungNews #AIChips #TechIndustry #PCPriceHike #SmartphoneCosts #TickerNews