After Elon Musk expressed his concerns about how AI may pose a risk to humans, people were surprised when rumours circulated about him starting an AI company. These speculations weren’t off the mark, as Musk had co-founded OpenAI in 2015.
The Twitter CEO was linked to X.AI, a 2023 startup that’s been running secretly since March. This news propelled investors and tech experts to find out whether there’s an X.AI IPO that can revolutionise the AI stock market.
Below, we’ll give you all the details about what X.AI is, X.AI stock, and X.AI valuation to stay updated on the tech industry.
Everything We Know About X.AI
According to a filing reported by the Wall Street Journal on March 9th, X.AI is a company that Elon Musk is currently the sole owner. While there hasn’t been an official statement on its purpose yet, experts believe it’ll provide safe and ethical by the Wall Street Journal on March 9th, X.AI is a company where AI offers solutions to humans, directly competing with the market leader—OpenAI.
These speculations are backed up by Elon Musk’s frequent warnings about AI and the threat it poses to the creativity and growth of humankind. In a Wall Street Journal's CEO Council Summit interview, he stated:
‘There is a risk that advanced AI either eliminates or constrains humanity's growth.’
Therefore, it makes sense that he’d want to create his own AI venture. This way, he ensures artificial intelligence works hand-in-hand with humans instead of taking up their roles.
This decision came after Musk had tried and failed to buy OpenAI back in 2018. His proposal to be the sole proprietor of ChatGPT’s parent was rejected by its co-founders for undisclosed reasons.
Before the launch of X.AI, Musk appeared to be assembling a team of artificial intelligence experts, engineers, researchers, and scientists. After the announcement came out in March, we soon learned that the billionaire chose Nevada as headquarters for his new venture.
He also moved the HQ of Twitter, which now goes by X Crop, to the same state.
X.AI Website and Future Projects
Because X.AI is a new creation, there’s yet to be an official website for it where you can look up more details on the tech project.
Any updates on X.AI will probably reach us through Elon Musk’s Twitter account, so our best shot at finding news is to keep our eyes on his future tweets.
While we’re still waiting for an official announcement of X.AI’s future goals and projects, one detail is known to the public so far. X.AI focuses on developing an app called X—an ‘everything app’ rumoured to have an interface that combines several tools under one umbrella.
For instance, you can expect the X app to host your PayPal, Twitter, and other messaging and social networking services. However, we’re yet to get the specifics on this ‘super-app,’ according to Elon Musk’s phrasing.
What Does the Name X.AI Mean?
Elon Musk hasn’t explained the secret behind his most recent startup’s name, but analysing his other projects can give us a good idea about its meaning.
Of course, AI is short for artificial intelligence, which clearly indicates that the project will specialise in developing solutions and technology aided by AI.
As for the letter X, it’s only suitable to include it within the name since Musk plans to build the app X with the help of his AI firm. Plus, he’s already got SpaceX and X Corp, so he must keep up with the theme!
X.AI IPO: Date, Stock Details, and Other Speculations
Unfortunately, X.AI remains a privately-owned venture to this day, as there haven’t been any public announcements of an IPO since the company’s launch. Besides getting its funds from Musk’s own wealth, there’s a chance that other investors in SpaceX and Tesla have backed the new AI startup.
A trusted source directly talked to the Financial Times about this, ‘A bunch of people are investing in it … it’s real and they are excited about it.’
The bottom line is you can’t trade for X.AI stock until the company announces an IPO date.
To answer the question of whether or not there’ll be an X.AI Initial Public Offering in the future, many trading experts believe there will. X.AI aims to take the tech market by storm, so it only makes sense that it’ll allow public investment one day to stay true to its ambitions.
The exact valuation of X.AI wasn’t revealed as a private venture because no official statements provided evidence of its worth. Still, since it plans to go toe-to-toe with the AI giant, OpenAI, stock experts think that X.AI has a roughly equal value or higher.
To give you a better idea about the expected X.AI valuation, keep in mind that OpenAI has a current value of approximately $29 billion.
The Bottom Line
X.AI is a new startup currently owned by the billionaire and entrepreneur Elon Musk, and it was established earlier in March. Because it only recently came to the surface, the AI firm is yet to have its own website, and there are no public announcements about its specific future projects yet.
Similarly, X.AI stock isn’t available for trading. As a result, it is not easy to invest in X.AI shares until the company becomes open to the public, which we don’t have a date for. As for X.AI’s valuation, market experts estimate it to be $29 billion or higher.
You can put your name down for the X.AI IPO and for Pre-IPO stock allocations and get a referral to secondary market traders who may be able to source the stock for you. Apart from that you may have to wait until it lists on the stock market.
Learn more about Upcoming Artificial intelligence IPOs and Start-ups by visiting Ai-ipo.info, they offer a free downloadable guide.
The information in this article is well-researched and factual. Still, it contains opinions also, and IT IS NOT FINANCIAL ADVICE and should not be interpreted as such, do not make any financial decisions based on the information in this article; we are not financial advisors. We are journalists. You should always consult with a professional before making any investment decisions. We hold no stock or interests in any of the Companies discussed on this website/app.