CoinVoice has learned that Elon Musk has offered 25% of xAI shares to investors who supported his $44 billion acquisition of Twitter (now known as X). xAI was founded last year with the aim of competing with companies like OpenAI and Anthropic.
Insiders reveal that xAI will complete a new round of $5 billion financing as early as Wednesday, with its valuation doubling in just six months to reach $50 billion. By the end of this week’s financing, xAI will have raised a total of about $11 billion for the massive expenses required to build AI models and one of the largest supercomputer clusters in the world.
This means that, due to the significant increase in the value of this startup, some of Musk's supporters can profit greatly from their shares in xAI, while these supporters suffered losses of billions of dollars during his acquisition of Twitter. Beneficiaries as investors in Musk's two companies include 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 (a16z). [Original link]