SpaceX to invest $2B in Grok chatbot developer — WSJ

SpaceX owned by US businessman Elon Musk will invest $2 billion in xAI, a startup that developed the Grok chatbot based on artificial intelligence, The Wall Street Journal (WSJ) noted, citing investors close to companies, Report informs.

The investment amount makes up approximately a half of the recent increase of Grok producer’s equity, WSJ said. Investments of SpaceX are part of equity raising to the amount of $5 billion announced in June.

One of investors told the newspaper that xAI attracted $5 billion debt along with equity financing and the startup is expected to raise even more at the turn of this year.

Musk founded the xAI startup dealing with artificial intelligence development in April 2023.