Elon Musk's xAI launches a $300 million stock sale, plans to push for larger-scale financing later.

According to the Financial Times, Musk’s xAI company is launching a $300 million share sale transaction, which values the group at $113 billion. According to people familiar with the matter, the deal will allow employees to sell shares to new investors. One of the people familiar with the matter said the company is expected to launch a larger round of financing to issue new shares to outside investors after the secondary share offering, known as the “tender acquisition”.