Elon Musk’s xAI aims high with a $5 billion loan and $113 billion valuation, highlighting the startup’s rapid rise in the competitive AI market.

Elon Musk’s xAI is launching a $300mn share sale that values the group at $113bn, as the world’s richest man returns to his business empire and the race to develop artificial intelligence.

Elon Musk‘s artificial intelligence startup xAI is pursuing a $300 million share sale that would value the combined entity at $113 billion. The secondary offering allows existing staff to sell shares to new investors while validating the price tag established during xAI’s March acquisition of social media platform X.