Elon Musk’s AI venture, xAI, is looking to secure up to US$1 billion in capital through an equity offering. The company has raised US$134.7 million of that amount so far, according to a filing with the US Securities and Exchange Commission.

Musk – who was previously involved in OpenAI – aims to develop a “maximally curious” AI, confronting issues of misinformation and rivaling tech giants like Google.