Elon Musk's AI company, xAI, has raised $10 billion in new funding, intensifying its competition with OpenAI. The capital, split between secured debt and equity investments, will enhance xAI's Memphis-based Colossus supercomputer and support the development of its Grok chatbot, as reported by CNBC. The funding round attracted significant interest from investors. This move comes as American competitors like OpenAI and Anthropic continue to advance, with OpenAI recently achieving a $300 billion valuation after a $40 billion funding round. Musk's integration of Grok into his social media platform, X, valued xAI at $80 billion. Tensions have resurfaced between Musk and former President Trump, who criticized Musk's reliance on government subsidies. Musk responded by advocating for a reduction in federal support. Additionally, Senator Cynthia Lummis has proposed an amendment to address tax issues for crypto users, aiming to alleviate tax burdens on small transactions and defer taxes on mined or staked assets. Read more AI-generated news on: https://app.chaingpt.org/news