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Elon Musk’s AI start-up seeks to raise $6bn from investors to challenge OpenAI

Tesla chief looks to tap Hong Kong and Middle East backers as he targets $20bn valuation
Elon Musk’s xAI launched its first product in December, a chatbot named Grok, which is being trained using social media posts on X

Elon Musk’s xAI is in talks to raise up to $6bn, as the Tesla and X chief looks to global investors, including in Hong Kong, to finance his challenge to Microsoft-backed OpenAI.

The billionaire’s artificial intelligence start-up has courted wealthy individuals and investors around the world in recent weeks, according to multiple people familiar with the matter.

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