Elon Musk Denies Funding Report Of IDR 7.8 Trillion For XAI, Company Value Is Not Final

JAKARTA - Elon Musk denied reports that his company was artificial intelligence (AI), xAI, had secured an investment commitment of US$500 million (Rp7.8 trillion) from investors towards a fundraising destination of US$1 billion (Rp15.6 trillion).

"This is inaccurate," he said in reply to user uploads about Bloomberg articles on social media platform X.

The artificial intelligence startup xAI, which is in talks on a valuation of around US$15 billion (Rp234.4 trillion) to US$20 billion (Rp312.6 trillion), although provisions may change in the coming weeks, Bloomberg reported, citing sources familiar with the matter.

xAI could not immediately be reached for comment.

Musk and investors are expected to finalize provisions in the coming weeks, and some are evaluating whether they can gain computing power other than, or in some cases instead, xAI equity shares.

Last December, Musk said his company, which is engaged in artificial intelligence, was not raising funds, the day after the startup registered with US securities regulators to raise funds of up to $1 billion through equity offerings.

Musk launched xAI in July last year in response to Big Tech's artificial intelligence efforts, which he has criticized for over-sensorship and lack of adequate security measures.