Elon Musk has promised that his AI business, xAI, will help to revolutionize society. Before it can do that, however, the company is going to need to become fiscally viable—a goal it hasn’t quite met yet.

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 artificial intelligence startup xAI is in talks to raise $4.3 billion through an equity investment on top of its $5 billion debt funding plans, Bloomberg News reported on Tuesday, citing information shared with investors.