Elon Musk's generative artificial intelligence startup xAI is expected to generate $13B in annual earnings by 2029, Bloomberg reported, citing documents by its banker, Morgan Stanley. Founded in March 2023 and publicly unveiled to the world a few months later,

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.

AI projects $13 billion in annual EBITDA by 2029 as revenue ramps, despite early losses. The generative AI startup founded by Elon Musk reported $52 million in Q1 gross revenue and a $341 million EBITDA loss,