- Founders' Daily Briefing
- Posts
- Musk denies $500M raise for xAI
Musk denies $500M raise for xAI
Liam Gill
January 22, 2024
Story of the Day
Elon Musk has refuted a Bloomberg report claiming his AI company, xAI, is nearing a $500 million investment towards a $1 billion goal. Musk, responding on social media platform X, labeled the report as inaccurate. Despite Bloomberg's mention of ongoing discussions for xAI's valuation at $15-20 billion, Musk's response suggests these details might not be correct. Previously, Musk had stated that xAI was not seeking funding, contradicting the claim that the company filed to raise up to $1 billion in equity. Musk founded xAI as a response to Big Tech's AI initiatives, focusing on safety and censorship concerns.
Tweet of the Day
If you have tweets you want to submit to be featured here (from you or someone you like), then reply to this email with a link to them!
urgency is a hell of a drug
if you find yourself addicted to the feeling that every moment counts—cherish it.
urgency will feel quite unreasonable to most. as a general rule, most of the world is slow.
ignore them. run fast. do something that shoots electricity into your veins
— Alexandr Wang (@alexandr_wang)
2:08 AM • Mar 29, 2023
Raise Venture Capital in 2024. Get the course helping top founders raise venture capital. The materials in this course are used by founders pitching a16z, Sequoia, YC and more while raising tens of millions! Get the course now for just $199.*
Chart of the Day
Trucking is an exciting industry for many reasons. First, the #1 expense is drivers; does this mean that we could significantly reduce (~33%) the cost of trucking through automation? Second, the #2 expense is fuel; this reinforces my belief that energy is the core problem society needs to solve; once we eventually get cheap, unlimited, renewable energy, how significantly will this reduce the cost of trucking?
What smaller opportunities are there? Given the thin margins, if you can help a company save $0.02/mile, that would be a 12.5% increase in profits—billions industry-wide.
Can you spot an opportunity in the trucking industry? |
Time to Add AI to Your Portfolio
RAD AI award-winning tech is transforming digital communications. The AI is trained to tell brands who their customer is and how to best message them. 3X revenue growth. Trusted by Hasbro, MGM, Sweetgreen and 6000+ investors. Secure your shares.
83% Subscribed, Invest Before Feb. 16th, Closing Soon.
Disclosure: This is a paid advertisement for RAD AI’s Regulation CF offering. Please read the offering circular at invest.radintel.ai
Are you looking to grow your business? Here is how I can help:
📢 Promote your startup to 2,000+ VCs including investors from a16z, YC, Techstars, Rarebreed, Sequoia and more.
📱 Book a Strategy Call to get 1:1 feedback on your pitch, pitch deck and/or fundraising strategy. (If you need general startup advice, then reply to this email, and I’ll let you know if/how I can help.)
📺 Access FundraiseOS, the ultimate fundraising course with video lessons and practical worksheets helping with everything from deciding how much to raise to understanding a term sheet.
💸 Promote your product or service to 100,000+ entrepreneurs.
🌐 Connect with me on LinkedIn or X (formerly Twitter) to get access to new content about startups, fundraising, venture capital, and more every day.
Liam’s Exclusive Partner Discounts:
Get $2,200 in savings when you use Forecastr to create a custom financial model for your business to improve your investor presentation.
Get 10% off, up to $2,400, with Backyard Bookkeeper’s remote bookkeeping, payroll and controller services.
Onwards and Upwards,
