Elon Musk’s AI company may release a consumer app

In Brief

xAI, Elon Musk’s AI company, is reportedly preparing to release a standalone consumer app.

That’s according to The Wall Street Journal, which reports that the upcoming app will be similar to OpenAI’s ChatGPT app, allowing users to access xAI’s Grok chatbot from their personal devices.

The app will likely arrive after xAI closes its next funding round, which could reach $5 billion and value the company at $50 billion, per the Financial Times — double its valuation six months ago. Musk is said to have given investors who backed his $44 billion Twitter acquisition 25% of the shares in xAI to reward their loyalty.

According to the FT, some of Musk’s backers — including Fidelity, Oracle co-founder Larry Ellison, and Twitter founder Jack Dorsey — could be made whole through shares in xAI thanks to the startup’s massive rise in value.

When xAI’s funding round closes, the company will have raised about $11 billion.

Subscribe for the industry’s biggest tech news