Musk's AI Startup xAI Seeks to Raise $6 Billion at $20 Billion Valuation
• xAI, Elon Musk's AI startup, is in talks to raise up to $6B at a $20B valuation according to the Financial Times • The fundraising is targeting high net worth individuals and investors around the world • Musk hopes to raise as much as $6B in fresh equity capital for xAI • The talks are ongoing and Musk is still testing investor appetite for large sums • The news comes a day after the FTC opened an inquiry into investments in AI startups like xAI, Anthropic, and OpenAI