Based on a USD 18 billion pre-money value, Elon Musk’s AI company, xAI, is expected to raise USD 6 billion, indicating that it is making considerable progress in the AI business, according to reports.
This investment round demonstrates the strong investor interest and confidence in Musk’s ambitious AI project, as it would grant investors a 25% ownership in the business.
This additional funding round brings xAI’s total financing to $12 billion, on top of the $6 billion round it secured in the spring. Earlier in November, CNBC noted that xAI was aiming for a market valuation of $50 billion, which is twice as much as it had six months prior.
