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

Mars Finance 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 in funding for its newly integrated AI startup and social media business. If the transaction is completed, according to data provider PitchBook, this would become the second-largest startup funding round in history, second only to OpenAI's $40 billion funding round earlier this year. Informed sources stated that this funding round might exceed $20 billion, but the total amount has not been finalized, and terms may still change. This funding round would value the company at over $120 billion. The current funding 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 informed source indicated that the new funds might be partially used to repay the debt incurred when Musk privatized Twitter (later renamed X). This massive funding round both highlights investors' enthusiasm for AI companies and confirms Musk's status as a business titan and politically influential figure. (Jintop)