PANews reported on April 26 that according to Jinshi, people familiar with the matter revealed that Elon Musk's xAI holding company is in talks with investors to raise about $20 billion for its newly integrated artificial intelligence startups and social media businesses. If the deal is reached, according to data provider PitchBook, this will become the second largest startup financing round in history, second only to OpenAI's $40 billion financing earlier this year.
People familiar with the matter said the size of this round of financing may exceed $20 billion, but the total amount has not yet been finalized and the terms may still change. This round of financing will bring the company's valuation to over $120 billion. The current financing negotiations are still in the early stages and the company aims to complete the fundraising in the next few months. XAI Holdings, announced in March this year, is a merger of the X platform (formerly Twitter) and Musk's artificial intelligence company xAI. A person familiar with the matter said that part of the new funds may be used to repay the debt incurred when Musk took Twitter private (later renamed X). This huge financing not only highlights investors' enthusiasm for artificial intelligence companies, but also confirms Musk's status as a business tycoon and political influencer.
