Elon Musk's xAI Reportedly Raising $20 Billion

xAI Holdings, the company that owns the artificial intelligence service xAI and the social media service X, is reportedly in the process of raising $20 billion, valuing the company at over $120 billion.

Neither xAI nor Elon Musk have commented on the matter. It is said that the funding could be worth over $20 billion.

The purpose of the funding was not disclosed. It is likely that it will be used to further develop the infrastructure for artificial intelligence, as well as for X's own social media service.