Musk’s xAI Secures $500 Million Toward $1 Billion Funding Goal

Elon Musk’s artificial intelligence company, xAI, has secured $500 million in commitments from investors toward a $1 billion goal, according to people with knowledge of the talks.

The company is discussing a valuation of $15 billion to $20 billion, though terms could still change in the coming weeks, the people said, declining to be named because they were not authorized to speak publicly about the investment. Musk didn’t immediately respond to a request for comment.

Musk launched the startup last year as an alternative to Open AI, which he co-founded and later left over philosophical differences about how ...