Elon Musk’s xAI likely to head towards another round of fundraising, seeks $200 billion in valuation: Reports
In a statement on Friday, two reports, artificial intelligence Chatbot Grook’s manufacturer Elon Musk, led by Xai, is moving towards collecting more money than investors.
According to The Financial Times and Blomberg’s reports, the agreement may increase the value of the company 10 times in the early last year.
Donations currently discussed at the moment may officially start next month as soon as possible. FT may also be the third largest share of the company in less than two months.
In July, Xai collected $ 10 billion through loans and cash investments and was equally divided between debt and equity. In June, he sold $ 300 million in his secondary stock offer.
The proposed agreement will also strengthen an increase in Xai’s valuation in May 2024, which rises from 18 billion dollars in the donation of “B Series”.
Xai is now raising an anonymous resource that is familiar with Bloomberg’s development, now raises more than 10 billion dollars.
Xai waited until the release of the new model Gok 4 to continue the effort to collect additional donations.
Three people quoted by FT said the new Xai donation collection company will aim to appraise between $ 180 billion to 200 billion dollars. However, the sources, details may change, he said.
Two of the FT sources said Saudi Arabia’s Egemen Servet Fund PIF will play an important role in the realization of the agreement. The Fund receives an indirect interest to XAI through its shares in Kingdom Holdings Company, which has already invested $ 800 million in the AI initiative.
Elon Musk rejects
In an article on Friday, Elon Musk said, “Xai is currently not looking for financing. We have plenty of capital.” He said.
Xaiai – Xaiai, the result of Musk’s merger with AI Startup Xai, would see the valuation climb in the last agreement and strengthen its place as one of the most valuable private companies in the world if it reached a valuation of 200 billion dollars.
Bloomberg had previously reported that Xai had burned for $ 1 billion per month because Xai has created more advanced AI models.
(With the Financial Times and Bloomberg)
