According to Foresight News, according to the Financial Times, Elon Musk has granted 25% of xAI's shares to investors who supported his $44 billion acquisition of Twitter. According to people familiar with the negotiations, xAI will complete a new round of $5 billion in financing as early as Wednesday, which will double xAI's valuation to $50 billion in six months. Investors who supported Musk's acquisition of the social media platform and suffered losses have been rewarded from the shares of his artificial intelligence startup, including Fidelity, Oracle co-founder Larry Ellison, Saudi Prince Alwaleed bin Talal, Twitter founder Jack Dorsey, and Silicon Valley venture capital firms Sequoia Capital and Andreessen Horowitz.
Previously, xAI raised $6 billion in May, bringing the total funding to approximately $11 billion for building AI models and the world's largest supercomputer cluster.