Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»TRADING NEWS»Elon Musk’s xAI Files Record of Private Sale of $1 Billion in Unregistered Securities
TRADING NEWS

Elon Musk’s xAI Files Record of Private Sale of $1 Billion in Unregistered Securities

By Crypto FlexsDecember 11, 20232 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Elon Musk’s xAI Files Record of Private Sale of  Billion in Unregistered Securities
Share
Facebook Twitter LinkedIn Pinterest Email

Elon Musk’s artificial intelligence modeler xAI has entered into a private sale agreement worth $865.3 million in unregistered equity securities, according to an SEC filing.

Regulatory Submission Details Private Sale Terms

A filing with the U.S. Securities and Exchange Commission (SEC) states that xAI intends to engage in a private sale of securities without registration utilizing Form D to comply with the exemption provided by Regulation D of the Securities Act of 1933. Elon Musk is listed as an executive and director of xAI.

Accredited Investor and Resale Restrictions

Form D states that the securities will be sold to accredited investors subject to resale restrictions under Rule 506(b). $134.7 million worth of those securities have already been sold, with the first sale taking place on November 29, according to the filing. The company is targeting $1 billion in total funding.

Introducing Grok: Chatbot by xAI

xAI’s product, a chatbot called Grok, hasn’t been released publicly, but there’s a waiting list for a prototype. Grok is described on the company’s website as a “very early beta product” and emphasizes real-time knowledge of the world through the X platform. In particular, it is designed to answer unconventional or “spicy” questions that other AI systems reject.

xAI’s journey and Musk’s vision

When Elon Musk announced the launch of xAI in July, he said the goal was to “understand the universe.” Musk claimed that Grok would surpass ChatGPT, which led to an online dispute with OpenAI co-founder and CEO Sam Altman in November. Musk, a co-founder of OpenAI, previously left the company.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

What is the next after the Fed’s 25bps is cut? Everything you need to know

September 18, 2025

As the Air drop recipient is sold, the infinite price is 46% conflict after Binance listing.

September 16, 2025

Metabuses are increasing again -Records in August +13k NFT users

September 15, 2025
Add A Comment

Comments are closed.

Recent Posts

MEXC Joins Forces With Lombard Finance (BARD) To Launch $1 Million Prize Pool Extravaganza

September 18, 2025

What is the next after the Fed’s 25bps is cut? Everything you need to know

September 18, 2025

The XRP market value surpasses Shopify, Verizon, and Citigroup. Whales sell 40m coins.

September 18, 2025

Green Hood Contracts Thanksgiving Summary -Ackee Blockchain

September 17, 2025

BetFury Is At SBC Summit Lisbon 2025: Affiliate Growth In Focus

September 17, 2025

FED Mining’s Cloud Mining Platform Is Helping Users Earn $8,800 Per Day, And XRP’s Growth Is Driving Market Enthusiasm.

September 17, 2025

Stablecoin Holdings Drop As Investors Pivot To SOL, XRP, And Altcoins

September 17, 2025

Flipster Partners With WLFI To Advance Global Stablecoin Adoption Through USD1 Integration

September 17, 2025

Zircuit Launches $495K Grants Program To Accelerate Web3 Super Apps

September 16, 2025

Kintsu Launches SHYPE On Hyperliquid

September 16, 2025

New Cryptocurrency Mutuum Finance (MUTM) Raises $15.8M As Phase 6 Reaches 40%

September 16, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

MEXC Joins Forces With Lombard Finance (BARD) To Launch $1 Million Prize Pool Extravaganza

September 18, 2025

What is the next after the Fed’s 25bps is cut? Everything you need to know

September 18, 2025

The XRP market value surpasses Shopify, Verizon, and Citigroup. Whales sell 40m coins.

September 18, 2025
Most Popular

Buy Apple iPhone with Cryptocurrency + MacBook, AirPods, and more

February 14, 2024

Solana’s SOL Leads Gains in Crypto Majors, Bitcoin Indicators Suggest Low Retail Growth

February 13, 2024

This on-chain indicator on the XRP ledger has hit a new all-time high.

January 28, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.