XAI is a private company, which means it doesn’t have a stock symbol or trade on a public exchange. There are two ways to exit your private company investment on EquityZen’s marketplace. The first is if the company has an exit event like an IPO, merger or how to buy pulse chain acquisition. In that case, we will distribute the shares and/or cash to you directly. An Express Deal allows you to sell your allocation of private shares in a given private company to another investor on EquityZen’s marketplace.
He first became a CoinCodex contributor in 2019, covering primarily crypto regulation and macroeconomics. Since then, Ted has expanded his interest to general crypto-related topics and is now a senior editor at CoinCodex. When he is not writing about crypto or traditional finance, Ted enjoys watching and playing basketball. It’s worth noting, however, that increased competition from other EV manufacturers is eating away at Tesla’s profits and forcing the company to be increasingly more competitive.
The ARK Venture Fund may also be of interest to traders with a specific focus on AI. Its other investments trading tutorials and platform video guides include Figure AI, Shield AI, Sortium AI and ChatGPT creator OpenAI. All of these are private companies, making ARK Venture Fund an easy way for traders to invest in them. With its ambitious goal and strong team led by Elon Musk, xAI represents an exciting prospect for potential investors, eager to be part of the AI revolution.
According to an OpenAI blog post and later tweets by Musk, he left OpenAI in 2018 to prevent conflicts of interest as Tesla became more focused on AI. Semafor reported in March that Musk had proposed that he assume leadership of OpenAI, and walked away after his proposal was rejected. The Financial Times reported in April that Musk’s departure was also due to clashes with other board members and staff over OpenAI’s approach to AI safety. As an accredited investor, you may have an opportunity to invest in xAI, if the company allows it. Elon has also said that xAI will work closely will “work closely with X (Twitter), Tesla, and other companies” to make progress towards their vision. He is known to have brought 50 Tesla engineers to Twitter after his takeover to improve the software.
Google’s AI ‘Reimagine’ tool helped us add wrecks, disasters, and corpses to our photos
It is his largest company and multinational giant known for being the world’s most valuable automaker and one of the largest global suppliers of clean energy and battery storage systems. As of February 2024, there is virtually no information regarding a potential IPO of xAI. The company is still relatively young, and judging by Elon Musk’s more mature businesses that still remain private, such as SpaceX, it is unlikely to happen anytime soon. However, it would not do harm to follow the news for this information. The company has not shared much detail about its intentions, but said on its website that its team would be joining a Twitter Spaces call on July 14 to take questions. (Musk is the owner of Twitter.) The AI company will work closely with Twitter, now called X Corp., and Tesla, as well as other companies “to make progress towards our mission,” xAI said on its website.
xAI Funding
The company is reportedly looking to raise up to $1 billion in fresh capital. However, judging by Elon Musk’s other business ventures that have still not gone public, an xAI IPO is unlikely as of now. Then, you should deposit some funds into your account to prepare to buy xAI stock alternatives. Frequently used funding methods include bank transfers, debit or credit cards, and transaction services like PayPal. The lack of reliable information also makes getting a precise answer virtually impossible. As an AI startup, xAI benefits significantly from the enormous appetite of the market for breakthroughs in artificial intelligence.
There’s currently no information about a potential X.AI Corp. stock symbol. It is easy to imagine that the company might use the ticker symbol “XAI” if it eventually gets listed on NYSE or NASDAQ. Buying Tesla stock might be the best option for gaining exposure to xAI at the moment. According to Musk, xAI will work with Tesla in multiple ways (for example, Tesla’s self-driving capabilities will be improved due to xAI). That means that the price of Tesla shares will likely, at least in part, mirror the success and progress made by xAI. In July 2023, Musk held a Twitter Space in which he discussed xAI, its goals, and its team.
xAI and Musk’s history with artificial intelligence
The company employs a dozen of AI and programming experts who are led by Elon Musk. Judging by Musk’s past business history, xAI likely won’t go public, at least not anytime soon. The list of companies Musk was a founder or co-founder of includes Tesla, SpaceX, Neuralink, Boring Company, and PayPal. Out of these companies, only Tesla and PayPal (PYPL) were ever listed on the stock exchange, with the latter only going public after Musk left the company. X.AI Corp. (“xAI”) is not a publicly traded company, which means that you cannot invest in the company like you would in Tesla or Microsoft, for example.
- They can offer strategic advice, industry connections, and credibility, which can be beneficial for the company’s growth.
- XAI is a private company, which means it doesn’t have a stock symbol or trade on a public exchange.
- Plus, as evidenced by the $6 billion he raised in May, he has no issue raising funds in the private markets.
- While there’s no way for you to buy shares of xAI directly, you can get exposure to the company via the ARK Venture Fund.
xAI IPO and Funding Rounds
XAI is working on building artificial intelligence to accelerate human scientific discovery. The company is guided by a mission to advance the collective understanding of the universe. In 2024 xAI their Series B funding round of $6 billion with participation from key investors including Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company. Moreover, the flexibility in fundraising options (think venture capital, private equity, private investors) allows for diverse avenues of growth and expansion. In essence, by keeping xAI private, Musk retains a high degree of autonomy and freedom to steer his company towards its future.
Has an xAI stock IPO date been set?
However, with xAI being founded by tech billionaire Elon Musk, there are other potential opportunities that you can explore to gain exposure to xAI. XAI is a private company, which means its shares are not available for public trading on the stock market. As Elon Musk remains the owner of xAI, the company is not publicly traded. Although Musk is famous for his various business ventures, such as SpaceX, X (formerly Twitter), Neuralink, and The Boring Company, only Tesla remains a public entity in which individuals can invest through the stock market.
EquityZen brings together investors and shareholders, providing liquidity to early shareholders and private market access to accredited investors. With low investment minimums through our funds and with more than 41K private placements completed across 450+ companies, EquityZen leads the way in delivering “Private Markets for the Public.” Unsurprisingly, there’s no shortage of investors trying to get exposure to the Musk-led AI company. XAI just raised $6 billion at a $24 billion valuation from a handful of venture capital and private equity firms. The stock fell from $246 at the start of the year to about $195 at the time of writing, which is about a 22% drop. The decrease in stock price led to Tesla losing its spot among the 10 largest companies listed on US stock exchanges.
Get a daily email with the top market-moving news in bullet point format, for free. In 2018, Musk sold his stake to Microsoft and left the company over disputes about the company’s lack of safety guardrails. Here’s a list of other AI-related investment opportunities you may be interested in.
The team at xAI, led by Musk, includes former employees of prominent AI companies OpenAI and DeepMind, as well as Microsoft and Tesla. Dan Hendrycks, director of the Center for AI Safety, is listed as an adviser. Musk incorporated xAI in Nevada in March this year and reportedly purchased “roughly 10,000 graphics processing units”—hardware that is required to develop and run state-of-the-art AI systems. The company has not said how it is financed but the Financial Times reported in April that Musk was discussing getting funding from investors in SpaceX and Tesla, two companies he how to buy steemit runs. As of now, investing directly in xAI via public markets is not an option. However, the future could hold opportunities for public investment if the company decides to go for an IPO.
Generally speaking, xAI’s success will largely depend on the success of the broader AI industry, so dispersing your capital among different AI companies (which is essentially what investing in AI ETFs is) might be your best bet. Founded in March 2023, xAI is an American startup focused on artificial intelligence (AI) technology. The company’s lofty mission statement is “to understand the true nature of the universe.” It is worth pointing out that there is currently very little information available regarding xAI and its business operation. XAI — the AI company founded by Elon Musk — seeks to raise up to $1 billion in equity investments, according to a filing with the Securities and Exchange Commission (as spotted by CoinDesk).