Elon Musk’s artificial intelligence company XAI has received $10 billion in new capital, and the challenge for Openai has doubled as the race for the dominant AI landscape intensifies. Funds are evenly distributed between secured debt and strategic equity investment.
Influx provides Xai with more resources to expand its Memphis-based Colossus supercomputer and train its Grok Chatbot CNBC Report Tuesday, quote Morgan Stanley. It is reported that the funding round was oversubscribed, with major investors competing for shares in Musk’s AI vision.
Musk’s AI push is American Competitors forward. Openai received a $40 billion salary increase earlier this year A staggering $300 billion valuationwhile fresh support for anthropomorphism Pushing its value for over $60 billion.
In March, Musk Selling his social media platform X to XAIintegrate Grok directly into the platform. The deal valued XAI at $80 billion and x at $33 billion, causing $12 billion in debt from a $45 billion valuation. He initially bought X, formerly Twitter USD 44 billion in April 2022.
Related: Bitcoin under pressure from the dollar – US President Trump
Musk’s hatred with Trump broke out again
The recent salary increase was released as Musk’s hatred with U.S. President Donald Trump reignited.
On Tuesday, Trump slammed Musk’s truth society, claiming that his success was attributed to government subsidies and suggested that the federal Department of Efficiency (DOGE) should investigate Musk’s business to cut costs.
“There are no more rocket launches, satellites or electric vehicles production, and our country can save a fortune. Maybe we should make Doge work hard, look at that? Trump wrote.
Musk fired at X, claiming: “I’m actually talking about all this. Now,” with dependency on federal support. They spit on government spending Once rattledTesla lost $150 billion in value in a conflict in June.
The new hostilities are because Musk intensifies his political comments, warn Members supporting the recent potential major challenge to spending bill Call up To deal with the new “pork party” to deal with what he believes is an out of control government surplus.
Related: Trump evades questions about crypto divestitures to pass key bills
Lummis pushes crypto tax breaks
Meanwhile, Senator Cynthia Lummis An amendment was introduced President Trump’s tax and spending bill aims to end what she calls “unfair tax treatment” for crypto users.
The proposal would exempt taxes on digital asset transactions under $300, with a cap of $5,000 per year and delay the cryptocurrency tax imposed through mining, points or airdrops until the asset is sold. It will also apply 30-day Wash sales rules to cryptocurrencies, limiting the rapid tax cut strategy.
Earlier, the Senate Rejected An amendment sponsored by the Democrats seeks to ban government officials and their families from owning or promoting cryptocurrencies including Memecoins and NFTs, up to a year after leaving the office.
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