In light of the expanding AI market, Elon Musk's xAI startup is seeking to raise $6 billion from investors with a $20 billion valuation.

Elon Musk's AI start-up xAI is reportedly in talks to raise up to $6 billion from investors, targeting a valuation of $20 billion. The company has been in discussions with family offices in Hong Kong and is aiming for investments from sovereign wealth funds in the Middle East. The AI industry has seen significant growth, with recent successes from Google-backed Anthropic and Microsoft-backed Inflection AI.

January 26, 2024
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