The company XAI Holdings, belonging to Elon Musk, is in negotiations to raise approximately $20 billion, reports Bloomberg. If successful, the value of XAI will exceed $120 billion.
If the deal is completed, it will become the second-largest funding round for a startup in history, second only to the $40 billion funding of OpenAI.
The raised $20 billion may go towards repaying some debt incurred after Elon Musk's purchase of Twitter and the renaming of the social network to X.
XAI Holdings was established in March and combines two of Musk's companies. This is the social network X and the artificial intelligence startup xAI.
