Musk claims to establish a 'reasonable valuation' for xAI, or hints at potential financing plans

On April 22nd, according to CNBC, Musk stated in a recent conference call with xAI investors that he hopes to establish a "reasonable valuation" for his artificial intelligence startup xAI. Although the new round of financing plan has not been explicitly mentioned, insiders believe that this indicates that xAI is about to launch a large-scale financing. During the meeting discussion, it was mentioned that xAI's annual revenue is expected to exceed 1 billion US dollars. On March 29th of this year, xAI acquired X through an all stock transaction, and the new entity after the merger is unified as XAI HOLDING. This transaction values xAI at $80 billion and X at $33 billion (i.e. $45 billion minus $12 billion in debt). Musk stated that since its establishment two years ago, xAI has rapidly become one of the world's leading AI labs, building models and data centers at an unprecedented speed and scale. X is a digital town square where over 600 million active users search for real-time factual sources. In the past two years, it has transformed into one of the most efficient companies in the world and is positioned to achieve scalable future growth. The future of xAI and X is intertwined. Today, we have officially taken a step towards integrating data, models, computing, distribution, and talent. By combining xAI's advanced AI capabilities and expertise with X's immense influence, this combination will unleash enormous potential. The merged company will provide smarter and more meaningful experiences for billions of people, while adhering to our core mission of seeking truth and advancing knowledge. This will enable us to build a platform that not only reflects the world but also actively accelerates human progress. I would like to thank everyone in the xAI and X teams for their unwavering dedication. It is their relentless efforts that have led us to where we are today. This is just the beginning