Musk's AI company xAI is negotiating a new round of financing, with a valuation potentially reaching 120 billion dollars

ChainCatcher news, Elon Musk's AI startup xAI is in talks for a new round of financing, with a valuation potentially rising to $120 billion, a significant increase from $80 billion in March. Investors are discussing a financing amount of about $20 billion.

Previously, Musk sold the social platform X to xAI in an all-stock deal, deeply integrating the operations of both. xAI's chatbot Grok is trained on user data from the X platform and contributes a portion of revenue to X. This round of financing follows OpenAI's announcement of completing a financing round with a valuation of $300 billion.