Elon Musk's AI startup is losing billions – and building something huge
SMRTR summary
Elon Musk's AI startup xAI burned through $7.8 billion in nine months while building AI systems for humanoid robots like Tesla's Optimus. Despite a $1.46 billion net loss, the company nearly doubled revenue to $107 million and secured $20 billion in funding, valuing it at $230 billion. xAI is constructing one of the world's largest private AI data centers in Memphis and developing "Macrohard," an AI platform for self-sustaining intelligence systems.
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