Musk says he's looking to put 'proper value' on xAI during investor call, sources say

Tesla CEO Elon Musk attends a cabinet meeting at the White House in Washington, D.C., U.S., April 10, 2025. Elon Musk is looking to put "proper value" on his artificial intelligence startup xAI, sources told CNBC's David Faber. The comments came during a call with xAI investors last week, sources familiar with the matter told Faber. While the Tesla CEO didn't explicitly address an upcoming funding round, the sources interpreted the comments as a sign that xAI is getting set up for a significant capital raise in the near future. CNBC was unable to confirm that the company is actively looking at a raise. The sources also said the company discussed revenue at a potential run rate of $1 billion or more on the call. The raise would mark another significant milestone for xAI just months after CNBC reported that the company was raising up to $6 billion at a $50 billion valuation to buy up 100,000 Nvidia chips. The funding was reportedly a combination of $5 billion from Middle East sovere ... Read full article.