Musk's xAI plans to raise $20 billion, which is expected to become the second largest startup financing in history

Odaily Planet News: On April 26, according to informed sources, xAI, a company owned by Elon Musk, is in talks with investors to raise approximately $20 billion for its newly integrated AI startup and social media business. If the deal is reached, according to data provider PitchBook, this would become the second-largest startup financing round in history, second only to OpenAI's $40 billion financing earlier this year. Informed sources stated that this round of financing may exceed $20 billion, but the total amount has not been finalized, and terms may still change. This financing will push the company's valuation beyond $120 billion. Current financing negotiations are still in the early stages, with the company aiming to complete fundraising in the coming months. XAI Holdings, announced in March this year, was formed by merging the X platform (formerly Twitter) with Musk's AI enterprise xAI. Another source indicated that the new funds might be partially used to repay the debt incurred when Musk privatized Twitter (later renamed X). This massive financing both highlights investors' enthusiasm for AI companies and confirms Musk's status as a business titan and politically influential figure. (Jin Shi)