Elon Musk's xAI Seeks $6 Billion in Funding to Challenge OpenAI

The ambitious fundraising effort, targeting global investors, aims to propel the startup to a $20 billion valuation.

Elon Musk's AI startup, xAI, is reportedly in talks to raise up to $6 billion, aiming for a valuation of $20 billion.
Musk is targeting investors globally, including family offices in Hong Kong and sovereign wealth funds in the Middle East.
The fundraising goal is significantly higher than the $1 billion target set by xAI last month, according to a filing with the US Securities and Exchange Commission.
Musk, a former founding investor in OpenAI, launched xAI as a competitor, releasing its first AI tool, a chatbot called Grok, in December.
Despite the high valuation, xAI still lags behind OpenAI's valuation, which is rumored to be over $100 billion.