PANews reported on May 9 that according to the New York Times, Musk's AI startup xAI is negotiating a new round of financing, with a valuation of $120 billion, a significant increase from $80 billion in March. Investors are discussing a financing amount of about $20 billion. Previously, Musk had sold the social platform X to xAI in an all-stock manner, allowing the two businesses to be deeply integrated. xAI's chatbot Grok is trained based on X platform user data and contributes part of X's revenue. This round of financing follows OpenAI's announcement of the completion of financing with a valuation of $300 billion.