Elon Musk’s xAI is preparing to raise more money from investors in a deal that could value the artificial intelligence company as high as $200bn — 10 times its value early last year, according to people close to the talks.
The fundraising, which is being discussed and could start formally as soon as next month, would be its third large share sale in less than two months. It raised $10bn through loans and cash investments in July, and in June sold $300mn of shares in a secondary stock offering.
A deal would also cement a rapid rise in xAI’s valuation from the $18bn set in its “series B” fundraising in May 2024.
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