Bloomberg: Elon Musk-backed AI company X.AI is seeking to raise $3 to $4 billion in funding

ChainCatcher news, according to Bloomberg, Musk's startup artificial intelligence company X.AI Corp. is seeking to raise $3 billion to $4 billion in funding, which would value the company at $18 billion.

According to a person who received the materials, emails regarding the potential financing, including about 20 pages of pitch materials, are circulating within the venture capital community in Silicon Valley. The person stated that individuals connected to Musk have already spoken within their own networks to gauge interest in participating in the deal. The person requested anonymity as the information is private.

The person indicated that the terms and amounts of the funding round are still in flux and may change.