Elon Musk’s xAI in talks to raise $10 billion at $75 billion valuation

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Elon Musk‘s xAI is discussing to raise $10 billion that could value the artificial intelligence startup at about $75 billion, Bloomberg News reported on Friday, citing a person familiar with the matter.

Existing investors, including Sequoia Capital, Andreessen Horowitz and Valor Equity Partners are in talks to participate in the deal, the report said.

xAI, Valor Equity Partners, Sequoia Capital and Andreessen Horowitz did not immediately respond to Reuters’ requests for comment.

The billionaire’s startup is looking to increase its footprint in the AI…



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Elon Musk’s xAI in talks to raise $10 billion at $75 billion valuation


Elon Musk‘s xAI is discussing to raise $10 billion that could value the artificial intelligence startup at about $75 billion, Bloomberg News reported on Friday, citing a person familiar with the matter.

Existing investors, including Sequoia Capital, Andreessen Horowitz and Valor Equity Partners are in talks to participate in the deal, the report said.

xAI, Valor Equity Partners, Sequoia Capital and Andreessen Horowitz did not immediately respond to Reuters’ requests for comment.

The billionaire’s startup is looking to increase its footprint in the AI…



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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