Overview

• Elon Musk’s xAI is in preliminary talks to raise fresh capital that could value the company between $170 billion and $200 billion.
• Saudi Arabia’s Public Investment Fund is expected to be a lead backer through its indirect stake via Kingdom Holdings, which holds an $800 million interest in xAI.
• The discussions build on a combined $10 billion debt and equity financing completed in late June.
• SpaceX injected $2 billion this month as part of a $5 billion equity round that set the merged xAI–X valuation at about $113 billion.
• xAI’s Grok chatbot already powers Starlink customer support and is slated for integration into Tesla’s Optimus robots.