Elon Musk’s xAI Seeks Up to $4 Billion to Compete With OpenAI – Bloomberg

Elon Musks fledgling AI startup X.AI Corp. is looking to raise $3 billion to $4 billion in a deal that would value the company at $18 billion, according to materials sent to investors.

Emails about the potential financing, including a roughly 20-page pitch deck, are circulating among Silicon Valleys venture investing community, according to a person who received one. People close to Musk have have had conversations within their own networks to gauge interest in participating in the deal, said the person, who asked not to be identified discussing private information.

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Elon Musk's xAI Seeks Up to $4 Billion to Compete With OpenAI - Bloomberg