Elon Musk’s xAI is attempting to raise 20 billion USD to facilitate a merger with the social media platform X, previously known as Twitter.
Should the funding succeed, xAI’s valuation could exceed 120 billion USD, marking it as the second-largest startup funding round ever.
The funding aims to help manage X’s significant debt, which is projected to reach 1.3 billion USD in yearly interest expenses by the end of 2024.
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