Morgan Stanley Projects Significant Revenue Growth for xAI by 2029

According to PANews, Morgan Stanley has projected that Elon Musk's artificial intelligence startup, xAI, is expected to achieve a total revenue of $1 billion by the end of this year. The financial institution anticipates that xAI's revenue could surpass $13 billion by 2029. Additionally, Morgan Stanley forecasts that xAI's EBITDA might grow to $2.7 billion by 2027 and could reach $13.1 billion by 2029.The company is reportedly planning to invest $18 billion in expanding its data centers. Furthermore, xAI is seeking a new round of funding with a valuation of $113 billion.