Elon Musk's AI startup xAI in talks to raise $3B, potentially valuing the company at $18B.

Investors close to Elon Musk are in talks to help his AI startup xAI raise $3 billion, potentially valuing the company at $18 billion. Venture capital firm Gigafund and Steve Jurvetson, a business and venture capitalist, are considering investing in xAI, which was launched by Musk in 2021. If the fundraising deal goes through, xAI would join rivals like OpenAI and Anthropic in the competitive AI industry.