Elon Musk’s Xai Holdings is in talks to raise a fresh $20 billion funding, potentially valuing the AI and social media combo to over $120 billion. If successful, the deal constitutes the second-largest startup funding round to date, after Openai’s $40 billion salary increase only last month.
This funding could help reduce X’s substantial debt burden, with each Bloomberg source. This costs hundreds of millions of dollars in service fees, with repeated annual payments of more than $1.3 billion per Bloomberg source.
A salary increase of this magnitude shows the ongoing appeal of AI investors and reflects the surprising emergence of President Trump’s Mask as a political power player within the White House.
Musks will draw from some of the same supporters who have consistently funded ventures, from Tesla to SpaceX, including Valor Equity Partner Antonio Gracias and Gigafund Luke Nose. Gracias assumes the role of masks as a li in government efficiency.
Xai did not respond to comments immediately.