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After Musk's conflict with Trump, Morgan Stanley seeks to find a buyer for xAI's debt

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2025-06-10 01:54:43
Morgan Stanley is reaching out to a wider group of investors to boost demand for a $5 billion debt offering from Elon Musk's artificial intelligence start-up xAICorp. The deal also sheds light on the fallout from Mr. Musk's clash with US President Donald Trump. Morgan Stanley had more than $3.50 billion in orders when it launched the debt offering early last week, according to people familiar with the matter. Some investors believe this indicates that the deal will soon be oversubscribed - a goal that would normally be easily achieved in previous Musk-related fundraising projects. However, as of Monday, demand had only increased to about $5 billion, so Morgan Stanley began contacting some small lenders that had not been approved to participate last week.
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