Illon Musk’s artificial intelligence (AI) startup XAI is reportedly exhausting about $ 1 billion (about 1.3 trillion won) every month. It is because huge costs from the event of advanced AI models are far ahead of profits.
Bloomberg quoted officials on Tuesday that XAI is currently raising recent capital and liabilities of $ 9.3 billion (about 12.8 trillion won) to meet up with the speed of expenditure.
Currently, XAI is ending its recent equity investment value $ 4.3 billion, and can be promoting $ 5 billion in corporate bonds led by Morgan Stanley.
It is thought that almost all of the $ 6 billion money, which was attracted in December last 12 months, was exhausted.
As well as, additional funds are still introduced, but most of them are said to be consumed inside three months. As well as, it’s reported that he plans to lift additional $ 6.4 billion capital by 2026.
In accordance with data shared with investors, XAI is predicted to make use of a complete of $ 13 billion in 2025. Despite the continual financing of enormous -scale funds, the corporate’s expenditure speed is barely catching up, and it is barely lifting with investment attraction.
XAI’s estimated sales this 12 months are expected to stay at $ 500 million (about 690 billion won), and sales are reported to investors that sales will increase to greater than $ 2 billion next 12 months.
Since its establishment in 2023, XAI has attracted a complete of $ 14 billion in equity investments since June this 12 months, but only $ 4 billion (about 5.5 trillion won) was left at first of the primary quarter of this 12 months, and a lot of the amount within the second quarter is predicted to be exhausted.
For that reason, Musk CEO also returned to Washington, DC, and began investing as the primary job.
By Park Chan, reporter cpark@aitimes.com
