Elon Musk's xAI spends $1 billion a month, heavily investing in the development of AI models.

On June 18, The Information reported that Elon Musk’s artificial intelligence company xAI spends $1 billion a month heavily investing in the development of its AI models. The company is seeking to raise $9.3 billion through debt and equity financing, planning to spend more than half of that amount in the next three months. Meanwhile, xAI has informed investors that it expects this year’s revenue to be only $500 million. To catch up with competitors like OpenAI, xAI is accelerating the construction of a high-cost supercomputing center in Tennessee. However, some investors believe that xAI has a certain advantage in the competition, as it has merged with Musk’s social media platform X, allowing it to access news, posts, and other information posted by users to train its AI models.