Musk’s xAI seeks $20 billion boost from investors
Elon Musk's xAI Holdings is in talks with investors to raise roughly $20 billion in funding for his newly combined artificial intelligence startup and social media business, people familiar with the matter told Bloomberg.
The transaction would value the company at more than $120 billion, the report said, citing one of the people, News.Az reports, citing Reuters.
The amount in the round could be more than $20 billion, the report said, adding that the total had not yet been decided, and terms could change.
xAI didn't immediately respond to requests for comment.
xAI acquired X in a deal last month that valued the social media platform at $33 billion and allowed the value of Musk's AI firm to be shared with his co-investors in the company formerly known as Twitter.
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