Editor’s Note: Eric Fry, here. Before I hand things over to Luke Lango for today’s Smart Money special issue, I want to once again thank those of you who joined Thursday’s Road to AGI Summit. You can click here to watch a replay.
As we discussed at the summit, AI is progressing at an exponential rate. Now, we’re watching Elon Musk’s xAI company redefine technology. These rapid advancements bring us closer to the arrival of Artificial General Intelligence (AGI) – which has the power to revolutionize every aspect of our lives.
Today, Luke will share updates on Musk’s AI startup, xAI, and the investment opportunities that surround it.
Take it away, Luke…
Hello, Reader.
For years, one of the world’s richest men and arguably most influential tech visionary – Elon Musk – has mostly watched the AI Boom unfold from the sidelines.
But that all changes now.
Musk was set to secure up to $6 billion in funding for his new AI startup, xAI. And he’s done it.
From xAI’s official blog:
Our Series B funding round of $6 billion with participation from key investors including Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, amongst others.
Now, aside from launching its AI chatbot Grok – which many experts say matches up pound-for-pound with ChatGPT – things have been mostly quiet since xAI’s founding.
But this $6 billion funding round could change that in a dramatic way.
Of course, the thing about world-changing businesses is that they start with world-changing people. Those folks have revolutionary ideas. And when funded with billions of dollars, they turn those ideas into world-changing businesses.
After all, Apple (AAPL) only became what it is today thanks to Steve Jobs, who came up with the idea of the iPhone. Jobs then leveraged the enormous amount of money Apple was making off its computers to create the iPhone. And voila… Apple became a trillion-dollar company.
Similarly, Microsoft (MSFT) grew into a tech titan because of Bill Gates, who came up with the idea for Windows. Gates used the money Microsoft was making off its PCs to further develop Windows. And that allowed Microsoft to become a trillion-dollar company.
World-changing people with ample resourcescreate world-changing businesses.
So… if you want to invest in world-changing businesses… start with the world-changing people gathering the resources necessary to bring their visions to life.
That is exactly the situation we have with Elon Musk and xAI today.
Invest in a World-Changer Like Elon Musk
We certainly believe that Elon Musk is a world-changer.
He co-founded PayPal (PYPL), the world’s largest digital payment platform, now worth nearly $70 billion…
And SpaceX, the world’s largest private space rocket firm, now worth about $180 billion.
He pioneered one of the world’s largest automakers in Tesla (TSLA)…
And he’s also the man behind Neuralink, The Boring Company, and X.
Musk has influenced how we pay for things, what cars we drive, how we communicate online, how we see space…
I’d venture to say that he is one of the most influential business figures of the past 20 years.
A great example of world-changing.
And now this world-changing person has not only turned his focus to a new business venture at the heart of possibly the most transformative technology the world has ever seen.
Would you bet against him here?
I don’t think I would.
The Final Word on xAI Stock
As we mentioned earlier, xAI has already launched its own impressive AI chatbot. And it did that with very little outside funding. Just imagine what Musk and company will be able to cook up with $6 billion in outside funding.
When all is said and done, xAI could be Elon Musk’s biggest venture yet – his signature mark on the world, if you will.
His massive foray into the future of artificial intelligence is yet another sign that the AI Revolution is as strong as ever… And even today’s impressive achievements could still represent just the tip of the iceberg here.
Indeed, this industry continues to progress at unfathomable speeds. And that means that AGI – when AI not only becomes smarter than the smartest human, but also gains sentience and free will – is likely coming much faster than we think.
In fact, Elon Musk estimates we could be in a world dominated by AGI within the next 24 months.
That’s why my InvestorPlace colleague Eric Fry held an all-important Road to AGI Summit last Thursday, wherein he explored the world-changing potential of AGI – technology so powerful it could either end the world as we know it or usher in an unprecedented utopia.
Eric offered a roadmap to exponential wealth as we race toward a world driven by (and potentially controlled by) AGI.
He believes there is a much smarter and far less risky strategy for building wealth in the age of AI’s exponential progress – and many of those investments are in companies that have no visible ties to AI whatsoever.
I also made a guest appearance at the summit, joining forces with Eric to ensure that our viewers had the resources they need to future-proof for AGI.
Understanding this jump to lightspeed is crucial for seizing life-changing investment opportunities. Watch the replay now!
Sincerely,
Luke Lango
Editor, Hypergrowth Investing
