The X brand seems on a cellphone, and the xAI brand is displayed on a laptop computer in Krakow, Poland, on April 1, 2025. (Photograph by Klaudia Radecka/NurPhoto through Getty Pictures)
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Elon Musk’s xAI Holdings is in discussions with traders to raise about $20 billion, Bloomberg News reported Friday, citing folks aware of the matter.
The funding would worth the corporate at over $120 billion, in accordance to the report.
Musk was wanting to assign “correct worth” to xAI, sources advised CNBC’s David Faber earlier this month. The remarks have been made throughout a name with xAI traders, sources aware of the matter advised Faber. The Tesla CEO at the moment did not explicitly point out any upcoming funding spherical, however the sources prompt xAI was getting ready for a considerable capital raise in the close to future.
The funding quantity could possibly be greater than $20 billion as the precise determine had not been determined, the Bloomberg report added.
Synthetic intelligence startup xAI did not instantly reply to a CNBC request for remark exterior of U.S. enterprise hours.
The AI agency final month acquired X in an all-stock deal that valued xAI at $80 billion and the social media platform at $33 billion.
“xAI and X’s futures are intertwined. At present, we formally take the step to mix the information, fashions, compute, distribution and expertise,” Musk stated on X, asserting the deal. “This mixture will unlock immense potential by mixing xAI’s superior AI functionality and experience with X’s huge attain.”
Learn the total Bloomberg story right here.
— CNBC’s Samantha Subin contributed to this report.
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