Morgan Stanley is shopping a $5 billion debt package for world's richest man Elon Musk, here's what it is for
Morgan Stanley
is reportedly arranging a $5 billion debt package for Elon Musk's AI company
xAI Corp
. According to a report in Bloomberg, quoting sources familiar with the matter, this marks another fundraising effort by the world's richest man
Elon Musk
across his business ventures. Launched on Monday (June 2), the debt package reportedly comprises a term loan B, a fixed-rate term loan, and senior secured notes, the source said, speaking anonymously as the information is not public. The funds will support general corporate purposes, with commitments due by June 17.
The debt is reportedly tied to XAI Holdings, which encompasses Musk's AI startup and his social-media platform X, formerly Twitter. xAI has been heavily investing in its Memphis data center, Colossus, which could benefit from the debt proceeds. The facility currently operates 200,000 GPUs for AI training, with plans to add 1 million more nearby, Musk revealed in a CNBC interview.
This follows a report that xAI is raising $300 million through a stock sale.
Bloomberg earlier reported that XAI Holdings was seeking $20 billion in funding, reflecting strong investor interest in AI and Musk's influence as a business and political figure. Musk, a prominent supporter of President Donald Trump, recently stepped down from an administration role after driving significant government changes and placing allies in key positions following Trump's reelection.
Neuralink raises $650 million
Additionally, Musk's Neuralink Corp. announced a $650 million Series-E funding round, backed by investors like ARK Invest, DFJ Growth, and Founders Fund. "This funding helps us bring our technology to more people — restoring independence for those with unmet medical needs and pushing the boundaries of what's possible with brain interfaces," Neuralink said.
The company is said to have started clinical trials for the device, which has a chip that processes neural signals that can be transmitted to computers or phones, in three countries. According to the company, five patients with severe paralysis are using Neuralink to control digital and physical devices with their thoughts.
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