Elon Musk’s xAI to raise $20 billion from investors: Report

Elon Musk’s xAI Holdings is allegedly in talks with investors to raise nearly $20 billion in funding. According to a Bloomberg report, the funding would value the company at over $120 billion. For those unaware, xAI acquired X (formerly Twitter) in a deal that valued the microblogging platform at $33 billion, allowing Elon Musk-owned AI firm to share its value with co-investors in the company formerly known as Twitter.

As per the report, the amount in the round could be more than $20 billion. The total had not yet been decided, and terms could change, the report added.