Elon Musk, the visionary CEO of Tesla and SpaceX, is once again making waves in the tech industry with his latest announcement. Musk revealed that his AI startup venture, xAI, will be open sourcing the code of his AI chatbot, Grok. This move is seen as a direct challenge to OpenAI, a company that Musk co-founded in 2015 but left in 2018.
Gene Munster, managing partner at Deepwater Asset Management, has weighed in on Musk’s announcement, stating that xAI is rapidly advancing and is on track to become the leading private AI company. Munster also predicted that xAI will soon need to raise substantial funds to maintain its competitive edge, and when it does, Musk will raise significant amounts quickly.
This news comes on the heels of Musk’s recent acquisition of Twitter, now rebranded as X, which Munster believes will boost the value of xAI. By leveraging Twitter’s powerful data to train xAI, Musk aims to position the company as one of the top three Foundation Models in the AI industry, potentially valuing it in the hundreds of billions of dollars.
Overall, Musk’s decision to open source the code of Grok and his strategic moves in the AI industry highlight his continued commitment to pushing boundaries and challenging the status quo. As one of the most influential figures in the tech world, Musk’s actions are sure to have a significant impact on the future of AI and technology as a whole.
