Sources say xAI is in advanced talks with investors to raise $15 billion.
AI Summary1 min read
TL;DR
xAI is reportedly in advanced talks to raise $15 billion, valuing it at $230 billion, as disclosed by Musk's wealth manager, though Musk previously denied similar funding reports.
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PANews reported on November 19 that, according to the Wall Street Journal, sources say xAI is in high-level talks with investors to raise $15 billion, which would value the company at $230 billion.
Sources say that Musk's wealth manager, Jared Burchar, disclosed the terms of a new funding round to investors Tuesday night.CNBC had earlier reported on xAI's funding plans , but Musk denied the report, calling it "untrue."