Jun 4, 2024
Elon Musk’s xAI says it just raised $6 billion in funding, pulling in big bucks from Sequoia Capital and Saudi Arabia
Posted by Kelvin Dafiaghor in categories: Elon Musk, finance
The mercurial billionaire said in a subsequent X post that xAI’s pre-money valuation was $18 billion. The financial term refers to the value of a company before any equity investment is made.
Pre-money valuation was $18B— Elon Musk (@elonmusk) May 27, 2024
Sunday’s announcement marks the first time xAI has talked about its fundraising efforts. Musk had repeatedly denied earlier reports from Bloomberg and the Financial Times about xAI’s outreach to investors.