Musk’s xAI Nears Close of Deal Valuing Startup at $24 Billion
- AI startup behind Grok has been in financing talks for months
- Musk is targeting up to $6.5 billion in massive funding round
The xAI website
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Elon Musk’s artificial intelligence startup X.AI Corp. is slated to complete a funding round in June that could value the company at more than $24 billion including its latest influx of cash, according to one person familiar with the deal.
The company was slated to wrap up a roughly $6 billion financing earlier this month, but the final close still hasn’t happened in the deal, which has been in motion since last year. Most recently, the company has been seeking as much as $6.5 billion and is aiming to get closer to that target over the next few weeks, said the person, who asked not to be identified because the information isn’t public.