Musk's xAI in talks for $4.3 billion equity funding, Bloomberg News reports
FILE PHOTO: A 3D-printed miniature model of Elon Musk and the xAI logo are seen in this illustration taken January 23, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) -Elon Musk's AI startup xAI is in talks to raise $4.3 billion through an equity investment on top of its $5 billion debt funding plans, Bloomberg News reported on Tuesday, citing information shared with investors.
Between its founding in 2023 and when the debt sale was launched this year, xAI raised $14 billion through equity fundraising, the report said.
The Grok chatbot maker needs new funding, partly because it has already spent most of what it previously raised, according to the report.
XAI did not immediately respond to Reuters' request for comment.
(Reporting by Jaspreet Singh in Bengaluru; Editing by Leroy Leo)
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