Musk's xAI, Aiming to Raise $20 Billion in Funding, Poised to Be the Second Largest Startup Financing in History

BlockBeats News, April 26th, according to sources familiar with the matter, Elon Musk's xAI Holdings is reportedly in talks with investors to raise approximately $20 billion for its newly integrated artificial intelligence startup and social media venture. If the deal goes through, according to data provider PitchBook, this would be the second largest startup funding round in history, second only to OpenAI's $40 billion financing earlier this year.

Sources say that the size of this funding round could exceed $20 billion, but the total amount has not been finalized yet, and the terms may still change. This funding round will push the company's valuation above $120 billion. The current funding negotiations are still in the early stages, with the company aiming to complete the fundraising in the coming months. XAI Holdings, established in March this year, was formed by the merger of X Platform (formerly Twitter) and Musk's AI company xAI.

One source mentioned that the new funds may be used in part to repay the debt incurred when Musk took Twitter private (later renamed X). This massive financing round not only highlights investors' enthusiasm for AI companies but also reaffirms Musk's position as a business tycoon and influential figure in politics. (Jinse)