Elon Musk's xAI Holdings in Negotiations to Secure $20 Billion Investment

Technology

Elon Musk's xAI Holdings in Negotiations to Secure $20 Billion Investment

7 months ago

News sources:

CHANNELNEWSASIA

BLOOMBERG

THEJAKARTAPOST

Elon Musk's xAI Holdings in Negotiations to Secure $20 Billion Investment

Credited from: BLOOMBERG

Elon Musk's xAI Holdings is negotiating to raise approximately $20 billion.
The funding aims to support the integration of AI and social media initiatives.
The prospective transaction might value the company at over $120 billion.

Elon Musk's xAI Holdings is reportedly in discussions with investors to secure around $20 billion in funding for its combined artificial intelligence startup and social media business. This has been confirmed by multiple sources including Channel News Asia and Bloomberg.

The potential funding round for xAI Holdings aims to bolster Musk's recent acquisition of X, the former Twitter, valued at $33 billion. The total investment could exceed $20 billion as reported, yet specific terms remain undecided, highlighting the dynamic nature of the venture, according to The Jakarta Post.

The impending transaction could assign a valuation exceeding $120 billion to xAI Holdings, reflecting investor confidence in the convergence of AI and social media platforms, a sentiment shared across all reports, including those from Channel News Asia, Bloomberg, and The Jakarta Post.