Musk's AI company, xAI, is negotiating a new round of funding at a valuation of $120 billion

[Musk’s AI company xAI is negotiating a new round of financing with a valuation of $120 billion] Musk’s AI startup xAI is in talks for a new round of financing, with the valuation likely rising to $120 billion, a significant increase from $80 billion in March. Investors are discussing a financing amount of approximately $20 billion. Previously, Musk sold the social platform X to xAI entirely in stock, resulting in a deep integration of their businesses. xAI’s chatbot Grok is trained on user data from the X platform and contributes part of its revenue to X. This round of financing follows OpenAI’s announcement of completing financing with a valuation of $300 billion.