Elon Musk’s artificial intelligence firm xAI will hold a funding round valuing the company at $200 billion, according to CNBC, keeping up with or nearing massive valuations from competitors like Anthropic and OpenAI.
Key Facts
- xAI will raise $10 billion in the funding round, CNBC reported, citing unnamed sources who spoke with “Squawk on the Street” co-anchor David Faber.
- The fundraise follows a $5 billion debt raise that was part of a larger, $10 billion debt and equity round directed by Morgan Stanley, bringing xAI’s valuation to roughly $150 billion, CNBC added.
- A $200 billion valuation would bring xAI above Anthropic’s $183 billion valuation secured this month.
- However, Musk’s startup will still trail behind Sam Altman’s OpenAI, which held a funding round earlier this year valuing it at $300 billion and is now eyeing a secondary share selloff that could value it at $500 billion.
This is a developing story. Check back for updates.
This article was originally published on forbes.com and all figures are in USD.
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