Elon Musk's xAI launches $300 million share resale, valued at $113 billion According to the Financial Times, xAI, founded by Elon Musk, is undergoing a $300 million share resale transaction, raising the company's valuation to $113 billion. This transaction allows employees to sell their shares to new investors and may trigger larger financing rounds in the future. Previously, xAI completed a $45 billion financing at the end of 2023 and acquired social platform X (formerly Twitter) in March of this year. Musk stated that he will focus on developing key technology deployments for xAI, X, and Tesla.