December 8, 2024

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Canadian Healthcare Technology Company HealWell AI Announces Investment into xAI

Canadian Healthcare Technology Company HealWell AI Announces Investment into xAI

By Tom White

In a strategic move aimed at strengthening its artificial intelligence capabilities, HealWell AI Inc. has announced a USD $2,000,000 investment in xAI Corp. This investment grants HealWell access to xAI’s closed Developer Program, positioning the Canadian healthcare technology firm uniquely within the xAI ecosystem.

Founded in 2023, xAI Corp. has quickly emerged as a leader in cutting-edge AI technology with applications spanning from autonomous vehicles to healthcare diagnostics. AI medical applications including Neuralink have been a key area of focus for Musk in recent years which appears to be continuing with the expansion of xAI.

HEALWELL’s investment is facilitated through Think 1st Principles (T1P), an investment fund led by HealWell shareholder and strategic advisor Massimo Agostinelli and backed by billionaire patriarch Robert F. Agostinelli of Rhone Group. The investment comes through T1P’s “Muskonomy” arm which is entirely Elon Musk oriented.

Mr. Massimo Agostinelli elaborated on the strategic significance: “T1P is dedicated to giving our partners, including HealWell AI, direct access to and participation in the Muskonomy in order to support and invest in the Elon Musk ecosystem of companies based on the philosophy “think first principles”. I am very pleased to be supporting Elon Musk and xAI through this investment made by HealWell AI, a leading North American healthcare artificial intelligence company focused on preventative care.”

AI healthcare has been a blazing hot market this year attracting interest from major investors. The combination of an aging population, rising healthcare costs, and the need for improved healthcare delivery has created a ripe environment for innovation. Now, companies such as HealWell AI are hoping to be the first to make major transformations in a vital industry.

Late last month, Softbank’s founder Mayoshi Son made a rare public appearance to speak on the transformative potential of AI healthcare including ambitious plans to revolutionize medical care in Japan. Son led a panel discussion alongside doctors and medical professionals to discuss the future of the industry and Softbank’s role which includes a $200 million investment Tempus AI which aims to deliver AI-powered healthcare services in Japan similar to those provided by Tempus in the US.

Son’s ambitions extend far beyond this initial venture. SoftBank is also planning to invest approximately $100 billion into AI-related chips under a project named Izanagi, as reported by Bloomberg News in February.

With substantial investments from leading funds and some of the top minds across the globe, the fusion of AI and healthcare promises to usher in a new era of medical innovation in both the US, Canada, and Japan, potentially setting a precedent for the world.

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