Elon Musk's AI company xAI is negotiating a new round of financing, with a valuation reaching 120 billion dollars.

[Musk’s AI company xAI is negotiating a new round of financing, with a valuation reaching $120 billion] Musk’s AI startup xAI is in talks for a new round of financing, with its valuation potentially rising to $120 billion, significantly up from $80 billion in March. Investors are discussing a financing amount of about $20 billion. Previously, Musk sold the social platform X to xAI in an all-stock deal, deeply integrating the operations of both. xAI’s chatbot Grok is trained on user data from the X platform and contributes a portion of revenue to X. This round of financing comes shortly after OpenAI announced the completion of a funding round with a $300 billion valuation.