AI startup xAI, founded by Tesla (TSLA) CEO Elon Musk, is rapidly burning cash, with losses increasing as it spends to build data centers, recruit staff, and develop software meant to power humanoid robots, Bloomberg’s Carmen Arroyo reports, citing internal documents. The startup reported a net loss of $1.46B for the September quarter, up from $1B in Q1, with cash burn of $7.8B in the first nine months of the year, the author notes.
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