The list of flagship AI models that missed their promised launch windows continues to grow. Last summer, billionaire Elon Musk, the founder and CEO of AI company xAI, said that Grok 3, xAI’s next major AI model, would arrive by “end of year” 2024. Grok, xAI’s answer to models like OpenAI’s GPT-4o and Google’s Gemini, […]
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OpenAI has finally shared details about its plans to shake up its core business by shifting to a for-profit corporate structure.
On Thursday, OpenAI posted on its blog, confirming that in 2025, the existing for-profit arm will be transformed into a Delaware-based public benefit corporation (PBC). As a PBC, OpenAI would be required to balance its shareholders' and stakeholders' interests with the public benefit. To achieve that, OpenAI would offer "ordinary shares of stock" while using some profits to further its mission—"ensuring artificial general intelligence (AGI) benefits all of humanity"—to serve a social good.
To compensate for losing control over the for-profit, the nonprofit would have some shares in the PBC, but it's currently unclear how many will be allotted. Independent financial advisors will help OpenAI reach a "fair valuation," the blog said, while promising the new structure would "multiply" the donations that previously supported the nonprofit.
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Elon Musk's AI company, xAI, is testing out a standalone iOS app for its chatbot, Grok, which was available only to X users until now.
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xAI, Elon Musk’s AI company, may be embroiled in an escalating lawsuit with OpenAI. But that’s not stopping it from shipping new products — on a Friday night, no less. This evening, xAI revealed that it has begun to roll out an upgraded version of its flagship Grok 2 chatbot model to all users on […]
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X, the Elon Musk-owned social network previously known as Twitter, quietly added a new image generator to its Grok assistant this past Saturday. Then, it removed it. Now, it’s bringing it back — and officially announcing it. The image generator, called Aurora, was developed by Musk’s AI company, xAI, and trained on billions of examples from the […]
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X, the Elon Musk-owned social network previously known as Twitter, has added a new image generator to its Grok assistant. However, after going live for a few hours on Saturday, the product seemed to disappear for some users. Just like the first image generator X added to Grok in October, this one, called Aurora, appears […]
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The AI chatbot within X, Grok, is now free for all users - but with some limits.
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Updated December 25, 12:21 p.m. Pacific: Added details of xAI’s valuation and Kingdom Holdings’ contribution. xAI, Elon Musk’s AI company, has raised $6 billion in a Series C financing round. The company announced this week that Andreessen Horowitz , Blackrock, Fidelity, Lightspeed, MGX, Morgan Stanley, OIA, QIA, Sequoia Capital, Valor Equity Partners, Vy Capital, Nvidia, […]
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Fidelity marked up the value of its holdings in Elon Musk’s X (formerly Twitter) by 32.37% in October, according to a report in Axios. Even with this markup, Fidelity still values the company at 72 percent less than the $44 billion that Musk purchased it for in 2022. Axios reports that this move is probably […]
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Elon Musk’s AI company, xAI, is reportedly preparing to release a stand-alone consumer app. That’s 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 arrive after xAI closes its next funding […]
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Reid Hoffman, co-founder at LinkedIn and Inflection AI, shared his expectations for the incoming Trump administration in an opinion piece for the Financial Times. And while he appears hopeful that President-Elect Donald Trump could clear the way for more competition and faster innovation in the technology industry, Hoffman also expressed concerns around Trump providing certain […]
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