Elon Musk’s AI company, xAI, is getting ready to launch a consumer app, as reported by The Wall Street Journal. The upcoming app is expected to be similar to OpenAI’s ChatGPT, allowing users to interact with xAI’s Grok chatbot on their personal devices.
The release of the app is likely to happen after xAI completes its next funding round, which could reach $5 billion and value the company at $50 billion. This is double the valuation from six months ago. Musk has reportedly given investors who supported his $44 billion Twitter acquisition 25% of the shares in xAI as a reward for their loyalty.
Investors such as Fidelity, Oracle co-founder Larry Ellison, and Twitter founder Jack Dorsey could benefit from xAI’s significant increase in value by receiving shares in the company. With the closure of xAI’s funding round, the company is expected to have raised a total of about $11 billion.
