SpaceX is set to invest $2 billion in Ilon Musk’s AI startup xAI
By ForGeeks
According to a report from The Wall Street Journal, citing investors close to SpaceX, the company has agreed to invest $2 billion in Musk’s AI startup xAI. The funds will be part of a massive funding round in which xAI plans to raise $5 billion in equity capital and another $5 billion in debt financing. The fundraising was reported in late June by Morgan Stanley.
For SpaceX, this will be the first investment in xAI and one of the largest third-party deals. According to WSJ, SpaceX already uses chatbot Grok (developed by xAI) to improve customer support for its Starlink satellite internet service and plans to expand the partnership.
Musk Companies’ Mutual Support Strategy
Musk has used his companies to mutualize on more than one occasion. For example, earlier this year, he integrated xAI with social network X (formerly Twitter).
This is not the first time Grok has been at the center of scandals: recently xAI apologized for the bot’s anti-Semitic remarks, including jokes where it called itself “Mechahitler”. Despite this, Tesla has begun implementing Grok into its cars as a voice assistant.
The story SpaceX is set to invest $2 billion in Ilon Musk’s AI startup xAI was first published on ITZine.ru.
