Musk’s xAI in advanced talks to raise $15 billion, lifting valuation to $230 billion: WSJ

Share via:



Elon Musk’s artificial-intelligence company, xAI, is in advanced talks to raise $15 billion in new equity at a $230 billion valuation, the Wall Street Journal reported on Tuesday.

The terms of the new fundraising were disclosed to investors by Musk’s wealth manager, Jared Birchall, on Tuesday night, the report said.

It could not be determined whether the expected new valuation Birchall shared with investors was pre- or post-money, the report added.

XAI, in what seemed like an automated reply, said “Legacy Media Lies” in response to a Reuters request…



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.

Popular

More Like this

Musk’s xAI in advanced talks to raise $15 billion, lifting valuation to $230 billion: WSJ



Elon Musk’s artificial-intelligence company, xAI, is in advanced talks to raise $15 billion in new equity at a $230 billion valuation, the Wall Street Journal reported on Tuesday.

The terms of the new fundraising were disclosed to investors by Musk’s wealth manager, Jared Birchall, on Tuesday night, the report said.

It could not be determined whether the expected new valuation Birchall shared with investors was pre- or post-money, the report added.

XAI, in what seemed like an automated reply, said “Legacy Media Lies” in response to a Reuters request…



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.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

The Best Bike Gear for Your Brisk, Wintry Commute...

FAQsWe asked Joshua Hale, general manager of commuter bike...

The Apple iPhone 17 Pro Keeps Cool While Playing...

The iPhone 17 Pro is the best phone Apple...

Popular