Elon Musk’s AI firm, xAI, is claimed to be in talks to lift $10 billion in a spherical that will worth xAI at $75 billion.
Bloomberg reported Friday that xAI is canvassing present traders, together with Sequoia Capital, Andreessen Horowitz, and Valor Fairness Companions for the spherical, which might deliver xAI’s whole raised to $22.4 billion, in keeping with Crunchbase. Bloomberg additionally famous that discussions are ongoing and that the phrases of the fundraising spherical could change.
The potential new injection of capital comes as xAI reportedly weighs buying more than $5 billion worth 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 about to be launched within the subsequent a number of weeks, Musk said in a livestreamed appearance at a Dubai technology conference this week.