Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
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

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

Why I am still optimistic despite noise

June 26, 2025
Add A Comment

Comments are closed.

Recent Posts

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 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

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025
Most Popular

Bitcoin Nashville 2024: Highlights from the Historic Conference

August 3, 2024

PawFury Launches $PawFactory with Up to 149% Bonus Live Presale

January 4, 2024

The future of cryptocurrency regulation

January 19, 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.