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Elon Musk's xAI Holdings Pursues $20 Billion Funding Round Valued at Over $120 Billion

The potential second-largest startup funding round ever could help reduce debt from Musk's acquisition of X and bolster AI development.

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Elon Musk's xAI Holdings nears record $20 billion fundraise, second only to OpenAI

Overview

  • xAI Holdings, formed from the merger of Elon Musk's AI venture and X, is in early talks to raise approximately $20 billion.
  • The funding round would value the company at over $120 billion, solidifying its position as one of the highest-valued AI startups globally.
  • If successful, this would be the second-largest startup funding round in history, following OpenAI's $40 billion raise earlier this year.
  • A portion of the funds may be allocated to addressing the significant debt incurred during Musk's $44 billion acquisition of Twitter, now rebranded as X.
  • The merger of xAI and X combines advanced AI capabilities with extensive social media data, aiming to unlock transformative potential in AI innovation.