Elon Musk's xAI plans to raise $20 billion, potentially becoming the second largest startup financing in history

On April 26th, according to insiders, xAI Holdings, a subsidiary of Elon Musk, is in talks with investors to raise approximately $20 billion for its newly integrated artificial intelligence startup and social media business. If the transaction is completed, according to data provider PitchBook, it will become the second largest startup funding round in history, second only to OpenAI's $40 billion funding at the beginning of this year. According to informed sources, the scale of this round of financing may exceed $20 billion, but the total amount has not been finalized and the terms may still change. This round of financing will elevate the company's valuation to over $120 billion. The current financing negotiations are still in the early stages, and the company aims to complete the fundraising in the coming months. XAI Holdings, announced in March this year, was formed by the merger of X Platform (formerly Twitter) and Musk's artificial intelligence company xAI. A source familiar with the matter stated that the new funds may be partially used to repay the debt incurred by Musk when he privatized Twitter (later renamed X). This massive financing not only highlights investors' enthusiasm for artificial intelligence companies, but also confirms Musk's position as a business giant and political influencer. (Golden Ten)