Elon Musk's xAI is negotiating with investors for a $20 billion financing -- Bloomberg News
Elon Musk's xAI Holdings is in talks with investors to raise approximately $20 billion for its newly merged artificial intelligence startup and social media business. The deal is expected to value the company at over $120 billion. The transaction amount may exceed $20 billion, but specific terms have yet to be determined. xAI acquired the social media platform X last month
Reuters, April 25 - According to a report by Bloomberg on Friday citing informed sources, Elon Musk's xAI Holdings is in talks with investors to raise approximately $20 billion for its newly merged artificial intelligence startup and social media business.
The report cited one of the informed sources as saying that this deal would value the company at over $120 billion.
It was reported that the amount for this round of financing could exceed $20 billion, adding that the total deal amount has not yet been determined and the terms may change.
xAI did not immediately respond to requests for comment.
xAI acquired the social media platform X last month
