Elon Musk's xAI plans a new round of financing with a target valuation soaring to $200 billion

Golden Finance reported that according to insiders cited by the Financial Times, Elon Musk's artificial intelligence company xAI is preparing for a new round of financing, with a valuation of up to $200 billion, a tenfold increase from early last year. This financing is currently under discussion and may officially start as early as next month. This will be the company's third large-scale stock offering in less than two months. The company raised $10 billion through loans and cash investments in July, and sold $300 million worth of stocks through a secondary stock issuance in June. This transaction will also consolidate the rapid rise in xAI's valuation. In May 2024, xAI's valuation in the "Series B" financing was $18 billion.