Musk’s xAI Holdings is reportedly raising the second-largest private funding round ever

Elon Musk's xAI Holdings is reportedly seeking to raise $20 billion in a funding round that could value the company at over $120 billion. If successful, it would be the second-largest startup funding round ever, following OpenAI's recent $40 billion raise.

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This funding aims to help reduce xAI's significant debt, costing the company $200 million monthly in servicing fees. The round may attract familiar backers from Musk's other ventures, reflecting ongoing investor interest in AI.