Musk SpaceX to invest $2 billion in xAI, sources say

July 13 - The Wall Street Journal has just reported that Elon Musk's company SpaceX has agreed to invest $2 billion (Rs. 14,347 million) in another company, xAI, which is almost half of the latter's recent equity financing. More agreements between SpaceX and xAI are said to be in the offing. Bloomberg also reported that xAI is in talks for a new round of funding that could value the company at up to $200 billion (roughly 1.43 trillion yuan). The company is said to have recently closed a $10 billion funding round (50/50 debt/equity) and is now moving forward with plans to raise an additional $10 billion. If it achieves a valuation of $200 billion, the new entity formed by the merger of X and xAI will be one of the most valuable private companies in the world. However, Musk said in a post on X the same day that "xAI is not looking for financing at this time, we have plenty of capital". xAI representatives did not immediately respond to a request for comment.