Musk's xAI plans a new round of financing, with the target valuation soaring to US$200 billion

PANews reported on July 12 that according to Jinshi citing the Financial Times, Elon Musk's AI company xAI is preparing for a new round of financing, with the company's valuation potentially reaching $200 billion, a 10-fold increase from early last year. This financing is currently under discussion and may be officially launched as early as next month, which would be the company's third large-scale stock offering in less than two months. The company raised $10 billion through loans and cash investments in July, and sold $300 million in stocks through a second stock issuance in June. This transaction will further consolidate xAI's rapid valuation increase. In May 2024, xAI's valuation in the "Series B" financing was $18 billion.