Musk's xAI plans to raise $20 billion, which is expected to become the second largest startup financing in history

On April 26th, according to people familiar with the matter, Elon Musk's xAI holding company is in talks with investors to raise about 20 billion US dollars for its newly integrated artificial intelligence start-up and social media business. < b > If the deal is completed, according to data provider PitchBook, this will be the second largest start-up financing round ever, after OpenAI's $40 billion funding round earlier this year. According to people familiar with the matter, the size of this round of financing may exceed 20 billion US dollars, but the total amount has not been finalized and the terms are still subject to change. This round of financing will value the company above 120 billion US dollars. The current financing negotiations are still in the early stages, and the company aims to complete the financing in the next few months. XAI Holdings, announced in March this year, was formed by the merger of the X platform (formerly Twitter) and Musk's artificial intelligence enterprise xAI. A person familiar with the matter said that the new funds may be used in part to repay the debt incurred when Musk took Twitter private (later renamed X). The huge financing highlights both investor enthusiasm for artificial intelligence companies and Musk's status as a business tycoon and political influencer.