Last-Minute Twist on xAI Deal Adds Banks Beyond Morgan Stanley

A trio of banks joined Morgan Stanley in a $5 billion debt deal for xAI Corp., after the company requested their participation to maintain relationships that could help with financings down the line, according to people with knowledge of the matter.

Barclays Plc, Mitsubishi UFJ Financial Group Inc. and UBS Group AG were added to the recent bond and loan sale for Elon Musk’s artificial intelligence startup, said the people, who asked not to be identified because they’re not authorized to speak publicly.

Barclays and MUFG both have previous ties to Musk, having helped with the debt ...