xAI owned by American tech billionaire Elon Musk, is set to release its latest chatbot, codenamed Grok 3, which has been tagged the “smartest AI on Earth” in some quarters.
The new chatbot, Grok 3, was trained on synthetic data, according to a post made by Elon Musk on his official X page (formerly Twitter). It is intended to enhance its reasoning by considering previous mistakes and checking data for logical consistency.
The flagship AI product, which Elon Musk says will make its debut with a demonstration today, Monday, at 8:00 p.m. Pacific Time (0400 GMT), intends to carve out a place in a market that is dominated by well-established companies like OpenAI’s ChatGPT.
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“Will be honing product with the team all weekend, so offline until then,” Musk wrote on his X page.
Recall last year that based on a USD 18 billion pre-money value, xAI, raised USD 6 billion, indicating that it is making considerable progress in the AI business, according to reports.
This investment round demonstrates the strong investor interest and confidence in Musk’s ambitious AI project, as it would grant investors a 25% ownership in the business.
This additional funding round brings xAI’s total financing to $12 billion, on top of the $6 billion round it secured in the spring. Earlier in November, CNBC noted that xAI was aiming for a market valuation of $50 billion, which is twice as much as it had six months prior.
