Musk’s xAI Discussing $10 Billion Raise at $75 Billion Valuation
- Sequoia, Andreessen Horowitz, Valor in talks to participate
- Company last fundraised at $51 billion valuation per Pitchbook
The company was last valued at about $51 billion.
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Elon Musk’s artificial intelligence company xAI is canvassing potential investors for a roughly $10 billion funding round that would value the company at about $75 billion, according to a person with knowledge of the matter.
Existing investors including Sequoia Capital, Andreessen Horowitz and Valor Equity Partners are in talks to participate in the transaction, said the person, who asked not to be identified discussing private information. Terms of the round aren’t finalized and could still change.