Elon Musk Denies Reports of xAI's $200 Billion Valuation Fundraising

According to BlockBeats, Elon Musk has dismissed reports claiming that his artificial intelligence startup, xAI, is raising $10 billion at a valuation of $200 billion, labeling them as 'fake news.' Musk clarified that xAI has not raised any funds. Earlier, CNBC reported that sources indicated xAI was seeking $10 billion from investors, reflecting a trend of soaring valuations for companies developing foundational AI models. This month, Anthropic raised $13 billion, reaching a valuation of $183 billion, while OpenAI's valuation hit $500 billion through secondary stock sales. The reported fundraising was said to follow Musk's recent efforts to secure $10 billion through debt and equity financing, which had previously valued xAI at approximately $150 billion.