Elon Musk's xAI plans to raise $20 billion, potentially becoming the second-largest startup funding in history.

Jin10 data reported on April 26, citing informed sources, that Elon Musk’s xAI Holdings is in talks with investors to raise about $20 billion for its newly integrated artificial intelligence startup and social media business. If the deal is finalized, according to data provider PitchBook, this will become the second largest funding round for a startup in history, second only to the $40 billion funding for OpenAI earlier this year. Informed sources indicate that the funding size may exceed $20 billion, but the total amount is not yet finalized, and terms may still change. This funding round will push the company’s valuation over $120 billion. Current fundraising negotiations are still in the early stages, with the company’s goal to complete the fundraising in the coming months. XAI Holdings, announced in March this year, is formed by the merger of X platform (formerly Twitter) and Musk’s artificial intelligence company xAI. One informed source stated that the new funds may be partially used to repay debts incurred when Musk privatized Twitter (later renamed X). This massive funding not only highlights investors’ enthusiasm for artificial intelligence companies but also confirms Musk’s status as a business giant and politically influential figure.