Elon Musk's AI company xAI is seeking to raise $3 billion to $4 billion, with a valuation of $18 billion

An internal document sent to investors shows that Elon Musk's artificial intelligence startup xAI is seeking to raise $3 billion to $4 billion, which will bring the company's valuation to $18 billion. People familiar with the matter revealed that emails about potential financing are circulating in the Silicon Valley venture capital community, including a roughly 20-page pitch document. The person also said that people close to Musk have had conversations on the internal network to gauge interest in participating in the deal, and the terms and amount of the round of financing have not been finalized and may still change. (Bloomberg)