NEWS: X.AI, an artificial intelligence company founded by Elon Musk, has filed with the U.S. Securities and Exchange Commission (SEC) to sell up to $1 billion in unregistered securities. The company has already sold $134.7 million in securities, with another $865.3 million left to sell.
The Grok artificial intelligence chatbot is X.AI's flagship product. It hasn't been released to the public yet, but the company claims it is "the most advanced chatbot in the world." Grok is able to understand and respond to a wide range of questions and requests, and can generate text, translate languages, and write different types of creative content.
X.AI's securities issuance is a sign that the company has high hopes for Grok's potential. If Grok lives up to expectations, it could be a very profitable product for X.AI.
Here are some additional details on the issuance of X.AI securities:
The company is selling common stock at a price of $10 per share.
The issuance of securities is aimed at institutional investors, such as hedge funds and pension funds.
X.AI will use the funds raised to finance the development and launch of Grok.
The issuance of X.AI securities is important news for the world of artificial intelligence. It's a sign that investment in AI is increasing, and that investors are willing to back companies that are developing innovative products.
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