Elon Musk’s XAI Seeks $20B in AI Funding
XAI, a company specializing in artificial intelligence and owned by American entrepreneur Elon Musk, is in talks to finance its new merged startup. The company is planning to raise $20 billion, Bloomberg reports , citing sources.
The startup is focused on AI and social media. If the deal goes through, it would be the second-largest funding round ever. The top spot goes to OpenAI, which raised $40 billion this year, according to PitchBook data.
XAI is valued at over $100 billion excluding debt. The company was founded in 2023. It is engaged in developments in the field of artificial intelligence. In March, Elon Musk sold the social network X to his startup.
