Elon Musk: xAI Holdings seek $20 Billion
Elon Musk’s xAI Holdings is in discussions with investors to raise $20 billion
Quick overview
- Elon Musk's xAI Holdings is seeking to raise $20 billion from investors, potentially valuing the company at over $120 billion.
- The exact funding amount may exceed $20 billion, as discussions are still ongoing.
- Recently, xAI acquired X in an all-stock deal, valuing xAI at $80 billion and X at $33 billion.
- Musk emphasized that the merger will enhance the capabilities of both xAI and X by combining their resources and expertise.
Elon Musk’s xAI Holdings is in discussions with investors to raise $20 billion.
This funding would value the company at over $120 billion. Artificial intelligence startup xAI did not immediately respond to a request for comment from CNBC outside of U.S. business hours.
The amount of funding could exceed $20 billion, as the exact figure has not yet been finalized. Musk planned to assign a “proper value” to xAI, sources informed CNBC’s David Faber earlier this month.
These remarks were made during a call with xAI investors, as reported by sources knowledgeable about the matter. At that time, the Tesla CEO did not explicitly mention any upcoming funding round, but sources suggested that xAI was preparing for a significant capital raise soon.
Last month, the AI firm acquired X in an all-stock deal that valued xAI at $80 billion, while the social media platform was valued at $33 billion. XAI and X’s futures are intertwined.
Today, we officially take the step to combine the data, models, compute, distribution, and talent,” Musk stated on X, announcing the deal. “This combination will unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach.
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