One of the most exciting publicly traded healthcare companies in Canada has just made a new bet on Elon Musk.
What’s happening:
- Healthcare company HEALWELL AI (TSX: AIDX) has invested $2M USD into Elon Musk’s artificial intelligence startup xAI
Why it matters:
- Elon Musk founded xAI recently completed one of the largest private financings ever for an artificial intelligence technology company which included participation from legendary Silicon Valley venture capital funds such as a16z and Sequoia Capital
Going deeper:
- The new investment from HEALWELL AI into xAI will unlock access to xAI’s closed Developer Program which will give HEALWELL AI insight into the Large Language Models under development as well as xAI’s unique datasets
- HEALWELL AI is advancing multiple projects that leverage artificial intelligence for scientific and clinical purposes, including a notable collaboration with WELL Health (TSX: WELL) who is also a founding shareholder of HEALWELL AI
The intrigue:
- This is the first ever financing round of outside capital that has ever been brought onto xAI, having previously been privately incubated without any venture capital funding
