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Elon Musk offers 25% stake in xAI to investors backing its $44 billion acquisition of Twitter

Elon Musk has offered a 25 per cent stake in xAI, founded last year to compete with the likes of OpenAI and Anthropic, to investors backing his $44 billion acquisition of Twitter, now known as X. XAI is set to close a new $5 billion round of funding as early as Wednesday, according to people familiar with the matter. Its valuation has doubled to $50 billion in just six months. By the end of this week's funding round, xAI will have raised about $11 billion in total for the huge outlay needed to b...

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2024-11-27 13:12:19