📢🚨 Elon Musk’s xAI Eyes Massive $200B Valuation in Upcoming Round 💼💰
According to the Financial Times, Elon Musk's xAI is gearing up for a potential funding round that could value the company between $170B and $200B. While details are still emerging, the Saudi PIF (Public Investment Fund) may play a key role through its $800M investment in Kingdom Holdings, a shareholder in xAI.
Despite the buzz, Musk stated on X (formerly Twitter) that xAI isn’t actively seeking funding right now, saying the company already has “plenty of capital.” 🚫💵
Earlier this year, Morgan Stanley disclosed that xAI secured $5B in debt and another $5B in equity, aimed at scaling its AI and data center infrastructure amid growing competition with firms like OpenAI.
In a major move back in March, xAI acquired X (formerly Twitter), setting xAI's valuation at $80B and X at $33B. Musk’s long-term vision includes driving xAI to $13B+ in annual revenue by 2029, with plans to reach $1B in revenue in 2025 and invest $18B into data centers.
👉 Stay tuned and follow for more updates and insights!
🙏 Thank you!$XAI
