Elon Musk's startup xAI has raised $10 billion in investments
Author - Mansur Ismagulov
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xAI raised $10 billion through debt instruments and strategic investments. The funds will be used to develop data centers and the Grok platform. The company is discussing raising an additional $20 billion, which could value it at $120–200 billion.
xAI, the company founded by Elon Musk, raised $5 billion through the issuance of debt instruments and an additional $5 billion in strategic equity investments.
The debt financing includes the issuance of secured bonds and the provision of term loans. The offering attracted strong investor interest and was oversubscribed. The funds will be used to develop data centers, the Grok platform, and other artificial intelligence initiatives.
Currently, the company is discussing the possibility of raising an additional $20 billion, which could increase its valuation to $120–200 billion.
Source: reuters.com
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