TechFlow news, according to Bloomberg citing sources familiar with the matter, Elon Musk's artificial intelligence company xAI has secured $500 million in investment commitments from investors, targeting a total of $1 billion. The sources said the company is discussing a valuation between $15 billion and $20 billion, although terms could still change in the coming weeks.
Musk said last November that equity investors in X would hold a 25% stake in xAI, meaning these investors are being invited to invest in xAI at least 25% of the amount they invested in X.
It is understood that Musk and the investors are expected to finalize the terms within the coming weeks.
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