xAI Reportedly Eyes $10B Funding at $200B Valuation

Forbes reports that Elon Musk's artificial intelligence company, xAI, is reportedly seeking to raise $10 billion in new funding. This potential investment could result in a valuation of $200 billion for the firm. This information stems from a CNBC report, which cites unnamed sources who disclosed these details to "Squawk on the Street" co-anchor David Faber. A $200 billion valuation would position xAI competitively among leading AI sector players such as Anthropic and OpenAI. The substantial funding round is intended to enhance xAI's capacity to secure essential resources, attract top talent, and expand its market share within the rapidly evolving artificial intelligence landscape. Forbes articles emphasize that this story is still developing and awaits further confirmation.