Musk’s xAI Discussing $10 Billion Raise at $75 Billion Valuation

Elon Musk’s artificial intelligence company xAI is canvassing potential investors for a roughly $10 billion funding round that would value the company at about $75 billion, according to a person with knowledge of the matter.

Existing investors including Sequoia Capital, Andreessen Horowitz and Valor Equity Partners are in talks to participate in the transaction, said the person, who asked not to be identified discussing private information. Terms of the round aren’t finalized and could still change.

Representatives for xAI and Valor didn’t immediately respond to a request for comment. Representatives for Andreessen Horowitz and Sequoia declined to comment. ...