Elon Musk's aerospace company SpaceX has invested $2 billion in the startup xAI, which developed the artificial intelligence chatbot Grok, The Wall Street Journal (WSJ) reported, citing investors close to the companies.
The investment is roughly half of the recent equity raise of chatbot maker Grok, the WSJ noted. SpaceX's investment is part of a $5 billion round announced in June.
An investor told the newspaper that xAI had raised $5 billion USD debt, along with equity funding, and the startup is expected to raise more money by the end of 2025.
Musk founded the artificial intelligence startup xAI in April 2023. A few months later, the company introduced an AI-powered chatbot called Grok. The project's creators say that this product differs from its competitors because it is uncensored and provides access to relevant information in real time.