Elon Musk’s artificial intelligence startup xAI is burning through $1 billion a month as the cost of building its advanced AI models races ahead of the limited revenues, according to people briefed on the company’s financials.

Elon Musk's AI startup, xAI, is reportedly spending $1 billion a month due to soaring costs of building advanced AI models and sluggish revenues.

Elon Musk's xAI company is looking to raise $4.3 billion in equity funding, adding onto the $5 billion it's seeking in debt funding.