New Delhi, January 20: Tech billionaire Elon Musk has denied the report claiming that his artificial intelligence (AI) company 'xAI' secured $500 million in funding toward a $1 billion goal. A report by Bloomberg, citing sources, stated that xAI was in talks with investors for an additional $500 million in funding.

However, Elon Musk dismissed the report, saying, "This is fake news from Bloomberg", in response to a user who shared the news article on X. In the report, Bloomberg, citing sources, mentioned that xAI is considering a valuation of $15 billion to $20 billion, although the terms could change in the coming weeks. X New Feature Update: Elon Musk’s Platform Rolling Out Audio and Video Calls for Android Users

Musk, in another post on X, dismissed the report. "This is simply not accurate," he said in a reply to a post. According to a filing with the US Securities and Exchange Commission (SEC), the Tesla and SpaceX CEO has raised $134.7 million so far for xAI. Optimus Robot Folding Shirt Viral Video: Elon Musk Shares Clip of Tesla's Humanoid Robot in Action but With an Important Note (Watch)

The $135 million came from four unnamed investors, with the first sale occurring on November 29. The SEC filing noted that xAI will only accept a minimum of $2 million from outside investors. The xAI ‘Grok’ AI assistant is being provided to the users as part of X Premium Plus which costs $16 per month via the web.

(The above story first appeared on LatestLY on Jan 20, 2024 10:13 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website