Elon Musk's AI Venture Targets $20B Investment Boost

Elon Musk's xAI Holdings seeks to raise $20 billion from investors to enhance his integrated AI and social media company. The potential deal values xAI at over $120 billion. The exact sum is yet to be decided, and the terms might change. xAI recently acquired X, formerly Twitter.

Elon Musk's company, xAI Holdings, is reportedly in discussions with investors to amass around $20 billion for its newly unified artificial intelligence and social media business.

According to Bloomberg News, people familiar with the situation claim the transaction would place the company's valuation at more than $120 billion. However, the final investment amount remains undecided, and the terms may be subject to change.

xAI, which did not return requests for comment, recently acquired X, the platform formerly known as Twitter, in a deal valuing the social media giant at $33 billion.