Elon Musk said on Wednesday his artificial intelligence company xAI was not raising funds “immediately,” a day after the startup filed with the US securities regulator to boost as much as $1 billion in an equity offering.
The corporate has raised $134.7 million in equity financing from a complete offering amount of $1 billion, the filing with the Securities and Exchange Commission showed on Tuesday.
Replying to a post on X by Deepwater Asset Management’s Gene Munster regarding the financing, Musk said: “We aren’t raising money immediately.”
Munster’s post had said the fundraising meant Musk desired to compete with OpenAI and Anthropic.
![Elon Musk](https://nypost.com/wp-content/uploads/sites/2/2023/12/2023-elon-musk-seeking-raise-73307476.jpg?w=1024)
![xAI logo](https://nypost.com/wp-content/uploads/sites/2/2023/12/2023-suqian-jiangsu-province-china-13983794.jpg?w=1024)
Reuters couldn’t independently confirm if the startup is currently raising funds or not.
Investments into AI-linked startups have surged this 12 months following chatbot ChatGPT’s success and its parent OpenAI’s $10 billion fundraise from Microsoft.
Musk launched xAI in July this 12 months in response to Big Tech’s AI efforts, which he has criticized for excessive censorship and a scarcity of adequate safety measures.