Elon Musk’s AI start-up seeks to raise up to $6 bn from global investors

Elon Musk’s artificial intelligence start-up xAI is in talks to raise up to $6 billion from global investors, the Financial Times reported on Friday, citing multiple people familiar with the matter.

The fundraise could value xAI at up to $20 billion, according to the report.

Thanks to the popularity of OpenAI’s chatbot ChatGPT, the AI industry has been a rare bright spot in a subdued start-up funding environment.

Google-backed Anthropic and Microsoft-backed Inflection AI have also raised funds in recent months.