X.AI, supported by Elon Musk, registers with the SEC to raise up to $1 billion through equity offering

X.AI Corp., a company with ties to Elon Musk, the CEO of Tesla and owner of X, is in the process of a massive $1 billion equity securities offering, as indicated by an SEC filing. They have already secured $134.7 million, with $865.3 million left to raise, setting a high entry bar with a $2 million minimum investment. Musk, who recently rebranded Twitter as X, holds a dual role as an executive officer and director at X.AI. Alongside him is executive Jared Birchall, a financial industry veteran. The registration of X.AI as an AI startup happened after Musk integrated Twitter into X Corp., under the mission to “understand the universe,” stirring interest in the crypto community. This has led to the creation of numerous “X” tokens and spiked dogecoin’s value due to Musk’s influence in the crypto space and his history of tweeting about the coin.