Overview
- Jared Birchall, Elon Musk’s wealth manager, presented terms to potential investors, and the Wall Street Journal reports the talks are advanced but not finalized.
- It is unclear whether the $230 billion figure is a pre- or post-money valuation, and Musk recently called a separate CNBC fundraising report false.
- The valuation would more than double xAI’s $113 billion mark disclosed in March 2025 following its acquisition of X.
- New capital would support data center expansion including the planned Colossus supercomputer in Memphis; xAI previously raised $10 billion in June with about $2 billion coming from SpaceX.
- Musk has floated Tesla investing in xAI, a move that has drawn skepticism from Tesla’s board and shareholders, as leadership turnover and safety criticisms of Grok add to governance questions.