The X logo will appear on the phone, and the Xai logo will appear on a laptop in Krakow, Poland on April 1, 2025 (photo by Klaudia Radecka/Nurphoto via Getty Images)
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The Bloomberg News reported Friday that Elon Musk’s Xai Holdings has raised about $20 billion in discussions with investors, citing people familiar with the issue.
The funds will value companies that exceed $120 billion, according to the report.
Musk was trying to assign “the right value” to Xai, sources told CNBC’s David Faber earlier this month. The statement came during a call with Xai investors, a source familiar with the matter told Faber. Tesla’s CEO at the time did not explicitly mention the upcoming funding round, but sources suggested that Xai is preparing for a significant capital raise in the near future.
The Bloomberg report added, adding that the funds could exceed $20 billion because the exact figures were not determined.
Artificial intelligence startup Xai did not immediately respond to CNBC requests for comments outside of US business hours.
The AI ​​company acquired X in all share trades last month valued XAI at $80 billion and social media platforms at $33 billion.
“Xai and X’s futures are intertwined. Today we officially took a step forward to combining data, models, calculations, distribution and talent,” Musk said on X, announcing the deal. “This combination unlocks immense possibilities by blending Xai’s advanced AI capabilities and expertise with X’s big reach.”
Read Full Bloomberg’s story here.
– CNBC’s Samantha Subin contributed to this report.
