Bloomberg Claims Musk’s Company xAI Secures $500 Million Investment, Musk Denies: Alleged False News from Bloomberg

Bloomberg: xAI has received a $500 million investment commitment, with a valuation of at least $15 billion.
Musk: This is fake news from Bloomberg.
Bloomberg: xAI has received a $500 million investment commitment, with a valuation of at least $15 billion.
Bloomberg
According to informed sources, xAI, Elon Musk’s AI company, has received a $500 million investment commitment from investors, aiming to achieve a financing goal of $1 billion.
The sources stated that the company is discussing a valuation of $15 billion to $20 billion, but the terms may still change in the coming weeks. Due to the inability to publicly discuss this investment, the sources refused to disclose their names.
Furthermore, it is possible that the investors of both X (formerly known as Twitter) and xAI overlap. Musk initially acquired X for $4.4 billion, and the people involved in the acquisition included Larry Ellison, the founder of Oracle, Sequoia Capital, a16z, Fidelity, and Binance.
Advertisement – Continue reading below

Elon Musk established xAI last year to compete against products like OpenAI.
(
Musk promotes his own AI, offering free access to “xAI” tools for Twitter subscribers
)
Musk: This is fake news from Bloomberg.
However, Elon Musk responded to both tweets, stating that this is fake news from Bloomberg and that the information is inaccurate.
Previously, it was reported that xAI did submit documents to the SEC in December last year to raise up to $1 billion through issuing new shares. At that time, $134.7 million worth of securities had already been sold, with an additional $865.3 million waiting to be sold, and the minimum investment amount was $2 million.
(
Musk sparks another AI war, startup X.AI plans to raise $1 billion in funding
)
Elon Musk
X
xAI
Twitter
Financing
Musk

Further reading
BIS Report | Fintech’s response to monetary policy: A new landscape of credit
Research | Infrastructure in the spotlight, funding roundup report for the cryptocurrency industry in 2023