Musk’s xAI Nears Funding at $18 Billion Value Soon As This Week

Elon Musk’s artificial intelligence startup X.AI Corp. is set to close its funding round at a valuation of about $18 billion as soon as this week, according to people familiar with the matter.

The size of the round hasn’t been finalized, the people said, asking not to be identified as the information isn’t public. The maker of AI chatbot assistant Grok was set to raise $6 billion in the round, whose participants include Sequoia Capital, Bloomberg News has reported.

Deliberations are ongoing and details such as the valuation and timing could still change, the people said. Representatives ...