Deepa Seetharaman
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deepa.bsky.social
Deepa Seetharaman
@deepa.bsky.social
4.3K followers 54 following 28 posts
tech reporter covering A.I.

Ping me on Signal: https://signal.me/#eu/SX-5fAfwgTQcgsbLtDC8E47LII_kSHE0PhkJgq-IdcaAZZvn4jxF67TNs80HUW4f
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Reposted by Deepa Seetharaman
peark.es
LOL yeah I hope they're raising equity.

*MUSK’S XAI BURNING THROUGH $1 BILLION A MONTH AS COSTS PILE UP
(Bloomberg) -- Elon Musk’s artificial intelligence startup xAI is trying to raise $9.3 billion in debt and equity, but even before the money is in the bank the company has plans to spend more than half of it in just the next three months, according to deal terms shared with investors. The rate at which the company is raising funds and tearing through cash offers a stark illustration of the unprecedented financial demands of the artificial intelligence industry, and the relatively meager revenues it is bringing in so far, at least when it comes to xAI. Musk’s startup, which is responsible for the AI-powered chatbot Grok, expects to burn through about $13 billion over the course of 2025, or more than $1 billion each month, as reflected in the company’s levered cash flow, according to the people familiar with the deal terms who asked not to be identified because the information is private.  As a result, its prolific fundraising efforts are just barely keeping pace with expenses, the people added.  A spokesperson for the company declined to comment.
June 17, 2025 at 5:55 PM
Reposted by Deepa Seetharaman
passantino.bsky.social
It was just last month that Musk and the White House denied a Politico report that Musk was leaving in May, calling the report "garbage" and "fake news."
May 29, 2025 at 12:30 AM