Elon Musk’s xAI Plans New Funding Round with Target Valuation Soaring to $200 Billion
According to a report by Jinse Finance citing sources familiar with the matter, Elon Musk’s artificial intelligence company xAI is preparing for a new round of financing, with the company’s valuation potentially reaching as high as $200 billion—a tenfold increase compared to early last year. The fundraising is currently under discussion and could officially launch as early as next month, marking the company’s third large-scale stock offering in less than two months. In July, xAI raised $10 billion through loans and cash investments, and in June, it sold $300 million worth of shares via a secondary stock offering. This deal will further solidify the rapid rise in xAI’s valuation. In May 2024, xAI was valued at $18 billion during its Series B financing round.
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