Next Article
Musk's xAI negotiating $4.3 billion equity funding
Elon Musk's AI startup, xAI, is looking to raise $4.3 billion in new funding—right after kicking off a $5 billion debt round.
The cash is meant to help xAI secure resources needed for AI development and keep pace with big rivals in the fast-moving AI world.
xAI's valuation has jumped to $80 billion
xAI's valuation has jumped from $51 billion at the end of 2024 to $80 billion just a few months later.
The company expects a $650 million rebate from a manufacturer, which should help cut costs.
Past backers include big names like Andreessen Horowitz and Sequoia, and there are plans to merge with Musk's social platform X (yep, formerly Twitter) as part of their bigger strategy.