Elon Musk's Twitter Investors Receive 25% Stake in xAI, $5 Billion Fundraising Round to Boost Valuation to $50 Billion

Nov 27, 2024, 06:52 AM

Elon Musk's investors from his $44 billion Twitter acquisition are poised to benefit significantly from their stake in his AI company, xAI. According to reports, these investors have received 25% of the shares in xAI, which is expected to close a new fundraising round that will double its valuation to $50 billion within six months. The Financial Times highlighted that this surge in xAI's valuation could lead to substantial returns for those who supported Musk's Twitter deal. However, some reports suggest that while investors were given access to xAI shares, they did not receive them outright, prompting calls for clarification from Musk.