💰 Elon Musk's xAI Grabs $6 Billion In New Cash

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Hey Waivly Crew! 🌊 In today’s edition, we’ve got a variety of topics to explore.

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Here’s what’s on the horizon today:

• Summers slams US national Bitcoin reserve idea as ‘crazy’

• NASA delays historic Artemis 2 moon mission to 2026

• Elon Musk's xAI raises $6 billion in equity financing

• OpenAI launches ChatGPT Pro subscription for $200/month

Let’s dive in!

STORIES MAKING A SPLASH

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Summers slams US national Bitcoin reserve idea as ‘crazy’

Former U.S. Treasury Secretary Lawrence Summers called President-elect Donald Trump’s proposal for a national Bitcoin reserve “crazy” and a ploy to appease crypto donors. Speaking to Bloomberg TV on Dec. 6, Summers argued that while strategic reserves for oil or gold make sense, accumulating Bitcoin serves no practical purpose, labeling it a "sterile inventory."

Trump had suggested during his campaign that the U.S. retain seized Bitcoin, valued at over $19 billion. Some allies, like Wyoming Senator Cynthia Lummis, back a bill to buy 1 million BTC—5% of its supply—and hold it for 20 years.

Summers acknowledged some validity in Trump’s pro-crypto stance, noting over-regulation of the sector, but criticized the reserve idea as pandering. Summers, a former Clinton-era official, previously advised crypto firm Digital Currency Group.

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NASA delays historic Artemis 2 moon mission to 2026 

NASA announced a revised timeline for its Artemis moon missions, delaying crewed flights once again. Artemis 2, a lunar flyby, is now scheduled for April 2026, with Artemis 3, the first moon landing of the program, pushed to mid-2027. The delay stems from unexpected issues with the Orion spacecraft’s heat shield during the uncrewed Artemis 1 test flight.

Although the heat shield performed differently than expected, data showed that crewed temperatures would have remained safe. Even so, NASA is taking no risks, ensuring the spacecraft is fully ready before astronauts are on board.

Artemis 2 will be a ten-day mission to orbit the moon and gather critical data on Orion’s performance. This mission will lay the groundwork for Artemis 3, where astronauts aim to land on the moon’s south pole for the first time.

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AI SPECIAL

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Elon Musk's xAI raises $6 billion in equity financing

Elon Musk’s AI company, xAI, has raised $6 billion, bringing its total funding to $12 billion. This latest round saw 97 investors, each contributing at least $77,593. Major backers include Valor Equity Partners, Sequoia Capital, Andreessen Horowitz, and Qatar Investment Authority. The company is aiming for a $50 billion valuation, doubling its worth from just six months ago.

xAI, launched by Musk last year, introduced Grok, its flagship AI model. Grok powers several features on X, such as a chatbot for Premium subscribers. Known for its "rebellious streak," Grok is willing to answer questions that other AIs avoid, even providing profanity when asked.

Musk has criticized AI models like ChatGPT for being "woke" and politically correct. He claims Grok is more "truth-seeking" and less biased, though it still shows signs of a left-leaning stance.

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OpenAI launches ChatGPT Pro subscription for $200/month

OpenAI has launched ChatGPT Pro, a premium $200-per-month subscription offering unlimited access to all of its models, including the advanced o1 reasoning model. This plan is designed for power users, such as those using ChatGPT for complex tasks like math, programming, and writing.

O1, the core feature of ChatGPT Pro, offers self-checking capabilities to avoid errors, although this results in longer response times. The upgraded o1 model is faster, more accurate, and excels at coding and math. It can now also process image uploads, improving its overall functionality.

While o1 is available to all paid ChatGPT users, ChatGPT Pro subscribers enjoy o1's "Pro mode," which uses more computing power to provide faster and more accurate answers to challenging questions.

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THE WAVES

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More Stories Surfing The Web

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🌟 See today's Waivly+ exclusive story by clicking here!

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