Elon Musk's xAI Holdings in talks to raise $20 billion, Bloomberg News reports

The X logo appears on a phone, and the xAI logo is displayed on a laptop in Krakow, Poland, on April 1, 2025. (Photo by Klaudia Radecka/NurPhoto via Getty Images) Elon Musk's xAI Holdings is in discussions with investors to raise about $20 billion, Bloomberg News reported Friday, citing people familiar with the matter. The funding would value the company at over $120 billion, according to the report. The amount could be more than $20 billion as the exact figure has not been decided, the report added. Musk's xAI didn't immediately respond to a CNBC request for comment outside of U.S. business hours. Musk was looking to assign "proper value" to xAI, sources told CNBC's David Faber earlier this month. The remarks were made during a call with xAI investors, sources familiar with the matter told Faber. The Tesla CEO at that time didn't explicitly mention any upcoming funding round, but the sources suggested xAI was preparing for a substantial capital raise in the near future. ... Read full article.