AI tokens rally after Elon Musk's $4.3B fundraiser
Elon Musk's artificial intelligence firm xAI is holding talks to raise $4.3 billion in equity on top of the $5 billion it has been trying to borrow from debt investors, Bloomberg reported on June 17.
As reported earlier, xAI acquired X, formerly Twitter, which is one of the leading platforms for crypto-related discussions.
xAI, the company behind the AI chatbot Grok, partially needs new funds because it has already spent most of what it previously raised, the report mentions.
The AI startup raised $14 billion in equity between its foundation in March 2023 and the launch of the debt sale in 2025. However, it is left with only $4 billion on its balance sheet, as of March 31, the report mentions.
The AI tokens responded positively to the latest announcement.
TAO, the AI token powering the decentralized ML network called Bittensor, rose 1.28% in an hour to $356.68 at press time.
NEAR, a prominent AI token, rose 0.59% to $2.21.
ICP, the token powering decentralized AI solutions at the Internet Computer protocol, rose 0.49% to $5.29.
RENDER, the AI token powering the decentralized GPU rendering platform, rose 1.05% to $3.35.
FET, the AI token behind the Artificial Intelligence Alliance consortium, also rose 1.24% to $0.6787.
FIL, the token supporting the internet infrastructure behind decentralized AI, rose 0.63% to $2.43.
VIRTUAL, the token behind AI agent-enabling Virtuals Protocol, rose 0.9% to $1.79.
INJ, the token lying at the intersection of AI and DeFi at the Injective protocol, rose 1.16% to $11.47.
The AI tokens market cap stood at $26 billion at the time of writing.
AI tokens rally after Elon Musk's $4.3B fundraiser first appeared on TheStreet on Jun 17, 2025
This story was originally reported by TheStreet on Jun 17, 2025, where it first appeared.
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