Musk's xAI plans to raise a new round of financing at a valuation of $40 billion

ChainCatcher news, according to Jinshi reports, a source familiar with the matter said that Elon Musk's artificial intelligence startup xAI plans to seek a new round of financing at a valuation of about $40 billion. Just months ago, another round of financing had brought $6 billion in funding to the startup. The financing negotiations are in the early stages, and details may still change; the negotiations could potentially fall through.

Previous report indicated that including the funds raised in the last round in May, the company's valuation was at $24 billion, and the latest deal would mean a significant increase in its valuation, placing it among the highest-valued startups in the United States.