(Reuters) -Elon Musk’s artificial-intelligence company, xAI, is in advanced talks to raise $15 billion in new equity at a $230 billion valuation, the Wall Street Journal reported on Tuesday.
The terms of the new fundraising were disclosed to investors by Musk’s wealth manager, Jared Birchall, on Tuesday night, the report said.
It could not be determined whether the expected new valuation Birchall shared with investors was pre- or post-money, the report added.
XAI, in what seemed like an automated reply, said “Legacy Media Lies” in response to a Reuters request for comment.
Reuters could not immediately verify the report. Jared Birchall could not be immediately reached.
The new valuation would more than double xAI’s $113 billion figure disclosed after merging with Musk’s social-media platform X in March.
Musk last week called a CNBC report “false” after it reported that xAI was raising $15 billion in a series E funding round that valued the AI startup at $200 billion.
(Reporting by Rajveer Singh Pardesi in Bengaluru; Editing by Nivedita Bhattacharjee and Eileen Soreng)
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