X.AI, supported by Musk, has submitted documents to the US SEC and plans to raise $1 billion through equity issuance.

BlockBeats news on December 6th reported by CoinDesk shows that X.AI Corp., which is supported by Musk, has submitted documents to the U.S. Securities and Exchange Commission (SEC) for a maximum of $1 billion in equity securities issuance. Currently, $134.7 million of securities have been sold, and $865.3 million are still available for sale. The minimum investment amount for any external investor is $2 million.