Elon Musk's xAI Partners with Palantir and TWG Global for AI Push in Financial Services

Musk's xAI joins TWG Global, Palantir for AI push in financial sector

May 6 (Reuters) - Elon Musk's artificial intelligence company xAI has partnered with Palantir Technologies (PLTR.O), opens new tab and investment firm TWG Global, the companies said on Tuesday, as they look to tap growing AI demand in the financial services industry. The data analytics firm and TWG, led by Guggenheim Partners founder Mark Walter and entertainment financier Thomas Tull, had in March announced a joint venture aimed at AI deployment in financial services and insurance sectors. TWG will lead the implementation efforts by working with company executives to design and deploy AI-powered solutions, the companies said. The collaboration will integrate xAI's models, which include its Grok family of large language models and its Colossus supercomputer, into business operations. The companies expect "many more partners" after the inclusion of xAI. Enterprise clients are investing in AI technologies to enhance services and introduce new features in their products, resulting in new partnerships for capturing market share. In March, Nvidia (NVDA.O), opens new tab and xAI joined a consortium backed by Microsoft (MSFT.O), opens new tab, investment fund MGX and BlackRock to expand AI infrastructure in the U.S. Reporting by Jaspreet Singh in Bengaluru Our Standards: The Thomson Reuters Trust Principles., opens new tab Suggested Topics:Artificial Intelligence

Is Elon Musk eyeing number one status in AI race? Check Tesla boss' latest big artificial intelligence move

Elon Musk's AI firm xAI has been taking big steps as the competition in the artificial intelligence sector toughens.Elon Musk's artificial intelligence company xAI has partnered with Palantir Technologies and investment firm TWG Global, the companies said on Tuesday, as they look to tap growing AI demand in the financial services industry. In March, Nvidia and xAI joined a consortium backed by Microsoft, investment fund MGX and BlackRock to expand AI infrastructure in the U.S, as per a report. The data analytics firm and TWG, led by Guggenheim Partners founder Mark Walter and entertainment financier Thomas Tull, had in March announced a joint venture aimed at AI deployment in financial services and insurance sectors, the Reuters report says. TWG will lead the implementation efforts by working with company executives to design and deploy AI-powered solutions, the companies said. The collaboration will integrate xAI's models, which include its Grok family of large language models and its Colossus supercomputer, into business operations. The companies expect "many more partners" after the inclusion of xAI. Enterprise clients are investing in AI technologies to enhance services and introduce new features in their products, resulting in new partnerships for capturing market share. Q1. What is full form of AI? A1. The full form of AI is artificial intelligence. Q2. What is Elon Musk's AI firm? A2. Elon Musk's artificial intelligence company is xAI.

Palantir, xAI and TWG Global team on AI offering for FS sector

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. With the financial sector scrambling to adopt AI, the partners say they will help firms adopt and scale the technology across the entire enterprise to drive long-term market competitiveness and unlock value creation. Their offering is designed to bridge the gap that has failed enterprises in the past by combining business objectives with an AI-first strategy. TWG will lead the implementation efforts, working with company executives to design and deploy AI-powered tools using xAI's models, including Grok, and its Colossus supercomputer. Instead of relying on per-seat licensing or headcount margin, the partnership will operate on an outcome-based business model. Thomas Tull, co-chairman, TWG Global, says: "By combining TWG Global's operational expertise with Palantir and xAI's world-class platform and reasoning intelligence, we're driving a ground swell of productivity and efficiency while transforming complex, bloated, legacy processes that have limited business agility in the past."

Elon Musk's xAI joins TWG Global, Palantir for AI push in financial sector

The collaboration will integrate xAI's models, which include its Grok family of large language models and its Colossus supercomputer, into business operations. The companies expect "many more partners" after the inclusion of xAI. Enterprise clients are investing in AI technologies to enhance services and introduce new features in their products, resulting in new partnerships for capturing market share.Elon Musk's artificial intelligence company xAI has partnered with Palantir Technologies and investment firm TWG Global, the companies said on Tuesday, as they look to tap growing AI demand in the financial services industry. The data analytics firm and TWG, led by Guggenheim Partners founder Mark Walter and entertainment financier Thomas Tull, had in March announced a joint venture aimed at AI deployment in financial services and insurance sectors. TWG will lead the implementation efforts by working with company executives to design and deploy AI-powered solutions, the companies said. The collaboration will integrate xAI's models, which include its Grok family of large language models and its Colossus supercomputer, into business operations. The companies expect "many more partners" after the inclusion of xAI. Enterprise clients are investing in AI technologies to enhance services and introduce new features in their products, resulting in new partnerships for capturing market share. In March, Nvidia and xAI joined a consortium backed by Microsoft, investment fund MGX and BlackRock to expand AI infrastructure in the US.

Elon Musk's xAI Teams Up With Palantir, TWG Global As Alex Karp Backs AI Push In Financial Services - Palantir Technologies (NASDAQ:PLTR)

Elon Musk's artificial intelligence startup xAI has formed a strategic partnership with Palantir Technologies Inc. PLTR and TWG Global aimed at revolutionizing AI adoption in financial services, the companies announced Tuesday. What Happened: The collaboration will develop enterprise-level AI solutions designed to move companies beyond the proof-of-concept phase, where 74% of organizations currently remain stuck without achieving meaningful returns. "Palantir is proud to partner with xAI and TWG Global to revolutionize AI adoption in the financial services industry," said Alex Karp, co-founder and CEO of Palantir Technologies. "Some of the West's most critical institutions are spending too much time navigating cobbled-together systems and not enough time leveraging the transformative power of AI." The partnership will deliver an outcome-based business model rather than traditional per-seat licensing, with implementation potentially yielding results within 90 days. TWG Global, led by CEO Mark Walter, will spearhead implementation efforts directly with executive leadership. "AI has the potential to make the 21st century the most productive time in human history," Walter said. Get StartedStart Futures Trading Fast -- with a $200 Bonus Join Plus500 today and get up to $200 to start trading real futures. Practice with free paper trading, then jump into live markets with lightning-fast execution, low commissions, and full regulatory protection. Get Started See Also: Rivian Holds Firm On $45K Price For Upcoming R2 Despite Tariff Pressures: CEO RJ Scaringe Says It's 'Important For Us' As EV Maker Tops Q1 Estimates Why It Matters: The alliance leverages xAI's state-of-the-art models and Colossus supercomputer alongside Palantir's data integration platform. The offering includes governance foundations, agent suites, and an agentic workforce with military-grade security. This partnership follows significant developments for both companies. In March, Musk's xAI acquired his social media platform X in a $33 billion all-stock deal, creating a combined entity reportedly valued at $113 billion. Meanwhile, Palantir executives recently expressed support for Musk's government efficiency initiative, DOGE, during their first quarter of 2025 earnings call. Read Next: Bitcoin, Ethereum, Dogecoin Spike As Scott Bessent's Gears Up For Trade Talks With China: Key BTC Stakeholders 'Moving In The Right Direction' Towards $100,000 Target, Says Analytics Firm Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo courtesy: JRdes / Shutterstock.com PLTRPalantir Technologies Inc$109.33-11.7%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentum99.44Growth86.98Quality-Value2.32Price TrendShortMediumLongOverviewMarket News and Data brought to you by Benzinga APIs

xAI and Palantir Team to Promote Financial Services AI Use | PYMNTS.com

xAI has teamed with Palantir to explore how financial services firms can employ AI. The partnership, announced Tuesday (May 6), is an extension of an earlier collaboration announced in March between Palatir and holding company TWG Global. The companies say their effort is happening at a time when CEOs are recognizing the importance of artificial intelligence (AI), even though most companies remain stuck at the proof-of-concept stage. "Some of the West's most critical institutions are spending too much time navigating cobbled-together systems and not enough time leveraging the transformative power of AI to unlock enormous growth," Palantir CEO/Co-founder Alex Karp said in a news release. "Placing AI at the core of operations empowers these companies to drive faster, more meaningful outcomes for customers and -- consequently -- generate far greater value for society." Mark Walter, TWG's chairman and chief executive, added that AI's potential can only be unlocked via a major shift in the approach to its integration. "Namely, it needs to be managed by the very highest levels of the C-suite rather than siloed in a business's technology group where it has traditionally resided," he said. The partnership's offerings include an "agentic workforce," which the companies describe as "modular AI agents tailored to specific business processes," with a "deep focus on orchestration across and between functions" to deliver things like revenue generation to cost reduction. Research by PYMNTS Intelligence has found that 72% of finance leaders say they actively use AI in their operations, for things such as fraud detection (64%) to customer onboarding automation (42%). The enthusiasm for the technology doesn't end there; nearly all banking boards have OK'd generative AI initiatives, illustrating a recognition of its strategic importance. Leaders see artificial intelligence as a tool for efficiency and a way to foster hyper-personalized customer experiences, a vital factor as 50% of retail banking consumers are not satisfied with their banking options. This increasing reliance on AI underscores a key moment where banks must evolve or risk being overshadowed by nimble Big Tech rivals. "Despite the promising landscape, banks face significant hurdles in effectively integrating AI into their systems," PYMNTS wrote. "Consumer skepticism remains a major barrier; approximately 20% of U.S. consumers see AI tools as a potential security risk, and 14% refuse to engage with AI-driven financial services. Such mistrust is compounded by internal challenges; 37% of banks worry that AI could heighten their vulnerability to cyberattacks."

Musk's xAI joins TWG Global, Palantir for AI push in financial sector

(Reuters) -Elon Musk's artificial intelligence company xAI has partnered with Palantir Technologies and investment firm TWG Global, the companies said on Tuesday, as they look to tap growing AI demand in the financial services industry. The data analytics firm and TWG, led by Guggenheim Partners founder Mark Walter and entertainment financier Thomas Tull, had in March announced a joint venture aimed at AI deployment in financial services and insurance sectors. TWG will lead the implementation efforts by working with company executives to design and deploy AI-powered solutions, the companies said. The collaboration will integrate xAI's models, which include its Grok family of large language models and its Colossus supercomputer, into business operations. The companies expect "many more partners" after the inclusion of xAI. Enterprise clients are investing in AI technologies to enhance services and introduce new features in their products, resulting in new partnerships for capturing market share. In March, Nvidia and xAI joined a consortium backed by Microsoft, investment fund MGX and BlackRock to expand AI infrastructure in the U.S.