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Elon Musk's AI company, xAI, is negotiating to raise $15 billion at a valuation of $230 billion, a significant increase from its previous $113 billion valuation. The company is rapidly spending to enhance its Grok chatbot and build infrastructure, continuing a trend of heavy cash burn among AI startups.
Elon Musk has been dedicating his time to his AI startup, xAI, instead of focusing on Tesla. Employees reported long hours and the pressure to share biometric data for developing a new chatbot, Ani. Musk balanced work with family visits and gaming breaks.