Elon Musk’s AI startup, xAI, has successfully raised $6 billion in a new funding round, pushing its valuation to over $40 billion, according to Bloomberg report citing official documents.
Funding Round Details
The latest funding round saw participation from 97 investors, with the minimum investment set at $77,593. Despite disclosed figures about the amount raised, details about the company’s revenues and the identities of investors remain confidential. xAI’s founder, Elon Musk, has not yet provided any comments.
According to Financial Times, xAI’s shares were already allocated to investors before the formal conclusion of the round in late November. Participation was limited to those who had supported the company in previous rounds, including major players like Sequoia Capital and Andreessen Horowitz.
xAI’s Future Prospects
Insider reports suggest that xAI plans another funding round in the first quarter of 2025, which could boost its valuation to $75 billion. This highlights the significant growth potential of the startup, which continues to attract attention from investors and market experts.
SpaceX Plans: Valuation Could Reach $350 Billion
Another of Elon Musk’s companies, SpaceX, is preparing for its own funding round, which could raise its valuation to $350 billion. If these projections are realized, SpaceX would become the most valuable startup in the world, surpassing ByteDance, the parent company of TikTok.
Musk and Politics: Impact on Business
The funding rounds are happening amid Elon Musk’s growing ties with U.S. President-elect Donald Trump. Musk has been appointed co-chair of the new Department of Government Efficiency, underscoring his increasing political influence. These connections may further contribute to the success of Musk’s ventures.
Musk’s Wealth and Tesla’s Success
As of December 6, Elon Musk’s net worth has reached $343.8 billion, reinforcing his position as the world’s richest individual. Tesla’s shares have also shown growth: on December 5, their value on the Nasdaq stock exchange rose by 3.23%, reaching $369.49.
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