Elon Musk’s xAI Startup Closes In on $6 Billion Fundraising
- Sequoia Captial, other investors to participate in the deal
- XAI set for $18 billion valuation, aims to compete with OpenAI
Elon Musk’s artificial intelligence startup X.AI Corp. is nearing a deal to raise $6 billion in a funding round that would value the company at $18 billion, according to a person familiar with the matter.
Sequoia Capital will participate in the deal along with other investors, said the person, who asked not to be identified discussing private information.