xAI seeks $15B raise that could value firm at $230B

Elon Musk’s artificial-intelligence startup xAI is in advanced discussions to raise $15 billion in new equity at a valuation of about $230 billion, according to a Tuesday report by The Wall Street Journal. WSJ, citing people familiar with the matter, said the proposed terms is an uptick from the $113 billion valuation xAI disclosed in March when it acquired Musk’s social-media platform, X. The details were shared with potential investors on Tuesday night by Musk’s wealth manager, Jared Birchall, who oversees many of his personal financial arrangements. CEO Elon Musk bashes CNBC Series E funding round report The fundraising discussions came just about a week after Musk deemed “false” a CNBC report claiming xAI was pursuing the same amount in a “Series E” round, valuing the company at $200 billion. The Journal reported that the startup has moved the expansion of its data-center operations forward to support more advanced model...

https://www.cryptopolitan.com/musks-xai-raise-15-billion-230-valuation/