Musk's xAI, Aiming to Raise $20 Billion in Funding, Poised to Be the Second Largest Startup Financing in History

On April 26th, according to people with knowledge of the matter, Elon Musk's xAI Holdings is said to be in negotiations with investors to raise around $20 billion for its newly integrated artificial intelligence startup and social media venture. If the deal is completed, according to data provider PitchBook, this would be the second-largest startup funding round in history, second only to OpenAI's $40 billion financing earlier this year. Sources state that the size of this funding round may exceed $20 billion, but the total amount has not been set in stone yet, and the terms may still undergo changes. This funding round will cause the company's valuation to exceed $120 billion. The current funding negotiations are still in the early stage, and the company aims to complete the fundraising in the coming months. XAI Holdings, established in March of this year, was formed through the merger of X Platform (formerly Twitter) and Musk's AI company xAI. One source mentioned that the new funds may be used in part to repay the debt incurred when Musk took Twitter private (later renamed X). This massive financing round not only reflects investors' enthusiasm for AI companies but also reaffirms Musk's status as a business magnate and an influential figure in politics. (Jinse)