New York: Elon Musk’s xAI is preparing to raise more money from investors in a deal that could value the artificial-intelligence (AI) company between US$170bil and US$200bil, the Financial Times (FT) reports, citing people close to the discussions.
Saudi Arabia’s PIF sovereign wealth fund is expected to play a large role in the deal, according to the FT report last Friday. PIF holds an indirect interest in xAI through its stake in Kingdom Holdings Co, which has an US$800mil investment in the firm.
