Elon Musk’s Xai Holdings near $ 20 billion money, second for Openai only
The AI venture of Elon Musk, called XAI, is looking to increase its funding to about 20 billion dollars. According to a report by Bloomberg, a fresh round of funds can be allocated to reduce the loan alone musk made during its acquisition of Twitter, which he later rebuilt as X after taking the company private.
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Elon Musk’s XAI Holdings allegedly in discussion with investors to secure about $ 20 billion in fresh investment for their recently merged Artificial Intelligence Venture and social media platforms, called XAI. According to Bloomberg report, this new investment can be used to reduce the loan musk made during its acquisition of Twitter, which he later re -created as X after taking the company private.
If Musk has cracked the deal, it may be “the second largest startup funding round of all time” after openi. According to the data provider pitchbook, Openai invested $ 40 billion at the beginning of this year.
The ITHE report states that the transaction will give the company a price of more than $ 120 billion. It was also noted that the amount in the round could be more than $ 20 billion, saying that the total was not yet fixed, and the conditions could change.
Launched in March, emerged from the merger of XAI Holdings X – known as Twitter – and Eleon Musk’s artificial intelligence firm, XAI. According to a source, as reported by Bloomberg, the part of the anticipated money can lead to reducing sufficient debt musk earned during its-private acquisition of Twitter, which was later rebuilt as X.
Bloomberg has earlier stated that this loan has become an important financial burden on X. In March alone, the company said that they have paid around $ 200 million in servicing costs associated with acquisition. Estimates suggested that by the end of 2024, the annual interest payment could exceed $ 1.3 billion.
After the merger, Musk and his team are quietly contacting potential investors, interested in supporting the newly formed unit. The current funding discussion is still in the early stages, with the goal of raising capital in the coming months.
The measure of this upcoming funding round not only reflects the strong investor hunger for AI Ventures, but also the effect of Musk as a prominent entrepreneur and political person. A close associate of former President Donald Trump, Musk, played a remarkable role in establishing key colleagues in influential government roles since the policy and Trump’s increase in power – although he is expected to return from Washington in the near future.
