Elon Musk’s AI Start-Up Seeks to Raise $6b From Investors: FT

Elon Musk’s xAI is in discussions to raise as much as $6b from investors as part of efforts to challenge OpenAI, the Financial Times reports, citing people familiar with the matter.

• Wealthy individuals and investors were approached in recent weeks, including family offices in Hong Kong, FT cites the people as saying
  • Also targeting sovereign wealth funds in the Middle East, as well as investors in Japan and South Korea
• Morgan Stanley is co-ordinating the fundraising, one of the people told FT
• The bank declined to comment to FT, while Musk didn’t respond to the newspaper’s request for comment
• NOTE: ...