AI Funding

Reports suggest xAI, Elon Musk’s AI startup, is in talks to raise $10 billion, potentially valuing the company at $200 billion, amidst a competitive AI landscape with soaring valuations for OpenAI and Anthropic. However, Musk has denied these reports as “fake news,” disputing the immediate capital raise. xAI’s Grok chatbot has faced controversy, trailing behind competitors in capabilities. xAI merged with X in an all-stock transaction and is investing heavily in AI infrastructure, including acquiring 1 million AI chips and building a large AI computer cluster in Memphis. Musk opposes a merger between xAI and Tesla.

VERSES AI Inc. (OTCQB: VRSSD) priced a public offering of 1,007,764 units at US$6.946 each, aiming for gross proceeds of approximately $7 million. Each unit includes one Class A subordinate voting share and one-half warrant. Full warrants are exercisable at US$8.409 per share for 36 months. Proceeds will support the company’s balance sheet, research & development initiatives, and operational needs. The offering is led by agents A.G.P. Canada Investments ULC and U.S. affiliate A.G.P./Alliance Global Partners.