Elon Musk's AI company xAI is reportedly preparing to release a standalone consumer app.
The upcoming app will be similar to OpenAI's ChatGPT, and will allow users to access xAI's Grok chatbot from their personal devices, according to the Wall Street Journal.
The app is likely to appear after xAI closes its next round of funding, which could reach $5 billion and value the company at $50 billion, according to the Financial Times. This is double the valuation from six months ago. Musk is said to have given investors who backed his $44 billion acquisition of Twitter 25% of xAI stock (or access to up to 25%) to reward their loyalty.
According to the FT, Musk's backers include Fidelity, Oracle co-founder Larry Ellison and Twitter founder Jack Dorsey, leading to a significant increase in the startup's value. Thanks to this, there is a possibility that you can make a lot of money through xAI stock.
When xAI's funding round closes, the company will have raised approximately $11 billion.