Elon Musk's xAI Raises $500 Million Toward $1 Billion Funding Goal

Elon Musk denies a report that his AI company, xAI, has secured $500 million in commitments from investors toward a $1 billion goal, stating that it is inaccurate. The startup is discussing a valuation of $15 billion to $20 billion, and terms could still change in the coming weeks. Musk and investors are expected to finalize terms in the next couple of weeks, with some parties evaluating whether they can get computing power in addition to, or instead of, xAI equity shares.