Musk's AI company xAI received an investment commitment of US$500 million, with a valuation of approximately US$15-20 billion

Musk's artificial intelligence company xAI has received US$500 million in investment commitments from investors, and it is reported that its financing target is US$1 billion. The company is discussing a valuation of $15 billion to $20 billion, people familiar with the matter said, although terms could still change in the coming weeks. Musk said in November last year that X's equity investors would hold 25% of xAI's shares. This means that these investors are invited to invest in xAI for at least 25% of the amount they invest in X. Musk and investors are expected to finalize terms in the coming weeks. (Bloomberg)