Elon Musk Raises $20 Billion for xAI: A Major Investment in AI & Social Media

Elon Musk’s company, xAI, is aiming to raise approximately $20 billion in funding, the second-largest startup funding round after OpenAI’s recent $40 billion deal. This substantial investment would fuel growth for xAI’s AI ventures and its social media platform, X. The negotiations are still in early stages, but the company aims to complete this fundraising by the end of the year. The financial influx could help repay debts incurred during Musk’s acquisition of Twitter, later renamed X. This ambitious funding effort demonstrates investor confidence in the future of AI and highlights Elon Musk’s continued influence as a tech leader.