Elon Musk’s xAI has secured new backing from Silicon Valley venture capital giants Lightspeed Venture Partners, Andreessen Horowitz, Sequoia Capital and Tribe Capital, as the tech billionaire closes in on a new funding round valuing the artificial intelligence start-up at $18bn.
The investors have committed to joining xAI’s latest financing in which Musk is seeking to raise close to $6bn, according to people familiar with the negotiations.
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