Elon Musk’s AI company, xAI, is reportedly preparing to release a standalone consumer app.
This is according to The Wall Street Journal, which reports that the upcoming app will be similar to OpenAI’s ChatGPT, allowing users to access xAI’s Grok chatbot from their personal devices.
The app will likely launch after xAI closes its next funding round, which could reach $5 billion and value the company at $50 billion, according to the Financial Times — doubling its valuation six months ago. Musk is said to have given investors who backed his $44 billion Twitter takeover a 25% (or access to up to 25%) stake in xAI to reward their loyalty.
According to the FT, some of Musk’s backers – including Fidelity, Oracle co-founder Larry Ellison and Twitter founder Jack Dorsey – could be made whole with shares in xAI thanks to the startup’s massive increase in value.
When xAI’s funding round closes, the company will have raised approximately $11 billion.
