Categories: Social Media News

Musk’s xAI seeks up to $200 billion valuation in new funding

(Bloomberg) — XAI Holdings, Elon Musk’s artificial intelligence and social media company, is in talks to raise more money at a valuation of as much as $200 billion, according to a person familiar with the matter.

The company recently raised $10 billion, split evenly between debt and equity. Now, it’s moving to raise another $10 billion, said the person, who asked not to be identified discussing private information. 

ARTICLE CONTINUES BELOW
Social Media Asia Editor

Recent News

Hormuz reopened, assets unfrozen, sanctions eased: Iran took the hits, but did it also get the deal it wanted?

Iran suffered major military and economic setbacks during the war. But the proposed peace deal…

18 hours ago

Police probing after motorcycle from viral Sembawang crash pelted with eggs

SINGAPORE – The police are investigating an incident in which a parked motorcycle was allegedly…

18 hours ago

UK under-16s social media rules to reach into gaming and AI chatbots

Britain is expected to set out restrictions on how children under 16 use social media,…

19 hours ago

One Sydney fan works year-round for moments like the World Cup

A Sydney-based Japanese football fan, Hiroki Fujiwara, travelled to the United States for the FIFA…

19 hours ago

Two Chinese fans robbed at gunpoint in Mexico City during World Cup visit

Wang and Li have since flown back to China, according to Chinese media reports.“EXTREMELY CORRUPT”…

19 hours ago

UK PM Keir Starmer announces ban on social media for children under 16

London [UK], June 15 (ANI): The United Kingdom has announced a ban on social media…

19 hours ago