Elon Musk’s firm, xAI, is reportedly in advanced talks to raise $15 billion in new equity – after the billionaire last week slammed a CNBC report about the funding round as “false.”
The deal would hike xAI’s valuation to $230 billion, people familiar with the plans told the Wall Street Journal.
That’s a strong jump from the $113 billion valuation that xAI disclosed after it acquired Musk’s social media platform X, formerly known as Twitter, in March.
Musk’s wealth manager, Jared Birchall, shared the new fundraising terms with investors on Tuesday night, sources told the Journal.
The outlet reported that it could not be determined whether the new valuation reflects xAI’s worth before or after the $15 billion fundraising round.
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