Investors in talks to help Elon Musk’s xAI raise $3 billion, WSJ reports
NY Post
Investors close to Elon Musk are in talks to help his artificial-intelligence startup xAI raise $3 billion in a round that would value the company at $18 billion, the Wall Street Journal reported on Friday.
Venture capital firm Gigafund and Steve Jurvetson are among the backers considering investing in the round, the report said, citing people familiar with the matter.
The WSJ report also said that a co-founder of another venture firm is also among the backers. However, it did not name the person or the firm.
Terms of the xAI fundraising were not finalized and the plans could change, the Journal said, adding that current fundraising talks have gathered momentum recently.
xAI could not be immediately reached for comment. Musk’s office did not respond to a Reuters request for comment.
Seeking an alternative to Microsoft-backed OpenAI and Alphabet’s Google, Musk launched xAI last year.
