Steve Davis has spent more than 20 years helping the billionaire cut costs at businesses like SpaceX, the Boring Company and Twitter.

Elon Musk’s right-hand man in charge of cost-cutting is now recruiting staff at the Department of Government Efficiency, according to a report. Steve Davis has remained loyal to Musk for years, working across his companies and even sleeping overnight in the Twitter offices with his wife and newborn during Musk’s acquisition in 2022 when the billionaire demanded his staff be “extremely hardcore,

Nevertheless, the deals — and xAI’s developer and consumer-facing products — have driven xAI’s revenue to around $100 million a year. For comparison, Anthropic is reportedly on pace to generate $1 billion in revenue this year, and OpenAI is targeting $4 billion by the end of 2024.

In total, 97 investors were involved in this round of funding, with the minimum investment per participant pegged at $77,593. Investors were only allowed to participate

A lot of compute is needed,” Mr. Musk said in a post about the financing, in which BlackRock, Fidelity and Sequoia participated.