Elon Musk's xAI in Early Talks to Raise Billions at $40 Billion Valuation

Oct 29, 2024, 04:54 PM

Elon Musk's artificial intelligence startup, xAI, is reportedly in early talks with investors to raise billions in new funding that would value the company at approximately $40 billion, according to sources cited by the Wall Street Journal. This valuation represents a significant increase from the company's previous funding round in the spring, when xAI raised $6 billion at a $24 billion valuation. The new funding is expected to support the expansion of xAI's AI infrastructure.