Musk denies report his AI company secured $500 million toward $1 billion funding goal

Elon Musk has said a report that his artificial intelligence (AI) company, xAI, has secured $500 million in commitments from investors toward a $1 billion goal is inaccurate.

“This is simply not accurate,” he said in a reply to a user post about the Bloomberg article on social media platform X.

The artificial intelligence (AI) startup xAI is discussing a valuation of $15 billion to $20 billion, though terms could still change in the coming weeks, Bloomberg reported, citing people familiar with the matter.