Dec 5 (Reuters) – Elon Musk’s artificial intelligence startup xAI has filed with the U.S. securities regulator to raise up to $1 billion in an equity offering, according to a filing on Tuesday.<\/p>\n\n\n\n
The company has raised $134.7 million in equity financing from a total offering amount of $1 billion, the filing<\/u><\/a> with the Securities and Exchange Commission showed.<\/p>\n\n\n\n Fundraising for AI remains a bright spot for startups this year, following OpenAI’s launch of popular chatbot ChatGPT last year and raising of $10 billion from its strategic backer Microsoft Corp (MSFT.O)<\/u><\/a>. Regulators, however, are concerned about the potential use of the technology to spread misinformation.<\/p>\n\n\n\n Musk has been vocal about his plans<\/u><\/a> to build safer AI. In a Twitter Spaces event earlier in the year he said that rather than explicitly programming morality into its AI, xAI will seek to create a “maximally curious” AI.<\/p>\n\n\n\n The billionaire, who has criticized Big Tech’s AI efforts as ridden with censorship, in July launched xAI, calling it a “maximum truth-seeking AI” to rival Google’s (GOOGL.O)<\/u><\/a> Bard and Microsoft’s Bing AI.<\/p>\n\n\n\n In 2015, Musk co-founded OpenAI, the company behind ChatGPT, which has created a frenzy for generative AI technology around the world, but stepped down from the board in 2018.<\/p>\n\n\n\n