Elon Musk’s AI firm, xAI, is alleged to be in talks to boost $10 billion in a spherical that might worth xAI at $75 billion.
Bloomberg reported Friday that xAI is canvassing present traders, together with Sequoia Capital, Andreessen Horowitz, and Valor Equity Partners for the spherical, which might carry xAI’s whole raised to $22.4 billion, in response to Crunchbase. Bloomberg additionally famous that discussions are ongoing and that the phrases of the fundraising spherical might change.
The potential new injection of capital comes as xAI reportedly weighs shopping for greater than $5 billion price of servers from Dell to help the event of its AI applied sciences, together with its Grok fashions. Grok powers a rising variety of options on Elon Musk’s X social community, together with summaries of trending discussions.
The subsequent main model of Grok, Grok 3, is ready to be launched within the subsequent a number of weeks, Musk mentioned in a live-streamed look at a Dubai expertise convention this week.
