xAI Rumored to Raise $10 Billion, Elon Musk Denies Claims

On the 19th, CNBC reported that Elon Musk's AI company 'xAI' is in the process of raising $10 billion from investors, valuing the company at $200 billion, according to sources familiar with the matter. The information was reportedly obtained by CNBC's David Faber from a direct source.

According to the report, this fundraising follows a debt and equity raise of $10 billion at an approximate valuation of $150 billion a few weeks earlier. In December of the previous year, xAI also raised $6 billion for AI development funding.

However, on the same day, Musk refuted CNBC's report on X, labeling it as 'fake news' and stated, 'xAI is not currently raising funds.'