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.

The rate at which the company is bleeding cash provides a stark illustration of the unprecedented financial demands of the artificial intelligence industry, particularly at xAI, where revenues

From "Project Mando" to a partnership with Hyosung HICO, here's a look at how the Memphis xAI project has played out since its June 2024 announcement.