The Tesla CEO is attempting to raise the capital from global investors to fund his AI startup xAI at a proposed US$20 billion valuation in an effort to challenge the ChatGPT-maker, the Financial Times reported, citing multiple people familiar with the matter. (Financial Times)

Talking point: Musk has a longstanding interest in artificial intelligence—and a history of making moves to put himself in charge of its development as it becomes more powerful. Musk reportedly co-founded OpenAI after getting into an argument with Google’s Larry Page about its hypothetical risks to humanity at a party. In 2018, he reportedly left OpenAI after a failed bid to take control of it and run it. In July 2023, he unveiled xAI, saying its intent is to “understand reality.” Earlier this month, Musk demanded Tesla’s board increase his stake in the company to 25 per cent, saying he would otherwise pursue ventures outside the company.