Elon Musk’s xAI to raise $5 billion through debt sale

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Elon Musk is selling $5 billion in debt for his artificial intelligence startup, xAI, with Morgan Stanley shopping the debt at a double-digit interest rate, according to news agency Bloomberg.

The debt package reportedly includes a floating-rate term loan, a fixed-rate term loan, and senior secured notes. The funds will be used for general corporate purposes, with commitments due by June17.

This marks the latest in a string of fundraising efforts across Musk’s business empire, as he shifts focus back to running his companies and away from political…



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Elon Musk’s xAI to raise $5 billion through debt sale


Elon Musk is selling $5 billion in debt for his artificial intelligence startup, xAI, with Morgan Stanley shopping the debt at a double-digit interest rate, according to news agency Bloomberg.

The debt package reportedly includes a floating-rate term loan, a fixed-rate term loan, and senior secured notes. The funds will be used for general corporate purposes, with commitments due by June17.

This marks the latest in a string of fundraising efforts across Musk’s business empire, as he shifts focus back to running his companies and away from political…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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