Elon Musk's xAI spends $1 billion per month on investing heavily in the research and development of AI models

According to BlockBeats, on June 18th, The Information reported that xAI, an artificial intelligence company under Elon Musk, burns $1 billion a month and invests heavily in the research and development of its AI models. The company is seeking to raise $9.3 billion through debt and equity financing, and plans to spend over half of the funds in the next three months. At the same time, xAI told investors that its expected revenue for this year is only $500 million. In order to catch up with competitors such as OpenAI, xAI is accelerating the construction of a high cost supercomputing center in Tennessee. But some investors believe that xAI has a certain advantage in competition because it has merged with Musk's social media platform X, which allows it to obtain news, posts, and other information posted by users for training its AI models.