Fundraising terms were outlined to investors on Tuesday evening by Musk’s asset manager, Jared Birchall, the report said. It was not clear whether the valuation figure Birchall shared was pre- or post-money, the newspaper added.
Reuters could not immediately verify the report. Jared Birchall could not immediately be reached. XAI, in what appeared to be an automated response, said “Legacy Media Lies” in response to a Reuters request for comment.
The new valuation would more than double xAI’s $113 billion mark, which was announced when it merged with Musk’s social media platform X in March.
Musk last week dismissed as “false” a CNBC report claiming xAI raised $15 billion in a Series E round, valuing the company at $200 billion. The startup has quickly scaled its data center footprint to train more advanced models as it tries to close the gap with OpenAI’s ChatGPT and Anthropic’s Claude. xAI, which launched in July 2023 as a rival to OpenAI, is also investing heavily in infrastructure, including real estate in Memphis, Tennessee, for its planned Colossus supercomputer.
Musk has previously floated the idea of using Tesla to support xAI, and Tesla shareholders approved an investment in the startup earlier this month, although a large number abstained. Investor interest in AI companies remains strong despite mounting warnings of an AI bubble fueled by rising valuations and aggressive spending plans.
Published on November 19, 2025
#Musks #xAI #advanced #talks #raise #billion #equity #billion #valuation #report