Elon Musk's xAI Startup Seeks $1 Billion in Equity Funding

Elon Musk's artificial intelligence startup xAI has filed with the U.S. securities regulator to raise up to $1 billion in an equity offering. The company has already raised $134.7 million in equity financing. xAI aims to build a "maximally curious" AI and has launched a chatbot called "Grok" to rival OpenAI's ChatGPT. The startup will be integrated into Musk's social media platform X and will also be available as a standalone app. Fundraising for AI startups has been strong, but regulators are concerned about the potential misuse of the technology.