PANews reported on November 27 that according to the Financial Times, Musk has offered investors who supported his $44 billion acquisition of Twitter (now known as X) a 25% stake in xAI. 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 $50 billion. By the end of this week's financing, xAI will have raised approximately $11 billion in total 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.