Source: The xAI project aims to raise $15 billion with a valuation of $230 billion

On November 19th, as per The Wall Street Journal, sources disclosed that Musk's AI company xAI is engaged in intensive negotiations and is planning to raise $15 billion with a valuation of $230 billion. This valuation shows a substantial increase compared to the $113 billion valuation that was disclosed when it merged with Musk's social platform X in March of this year. Sources stated that Musk's private wealth manager, Jared Birchall, informed investors of the financing terms on Tuesday evening. It is currently unknown whether this valuation is pre-money or post-money. CNBC reported on xAI's financing plans last week. After this report came out, Musk replied to a user's post on X about the news with "fake", which sparked speculation. It is reported that after finishing government affairs in the United States, Musk has focused his attention on xAI and is dedicated to making it a key player in the global AI field. (Golden Finance)