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Investing.com -- Elon Musk's artificial intelligence firm, xAI, is seeking approximately $10 billion in a new funding round that could potentially value the company at around $75 billion, as reported by Bloomberg News, citing a person with knowledge of the matter.
Existing investors, namely Sequoia Capital, Andreessen Horowitz, and Valor Equity Partners, are reportedly in discussions to partake in the transaction. However, the terms of the round have not been finalized and could undergo changes.
xAI has been successful in raising billions of dollars at a swift pace. In December, the company announced it had raised $6 billion in a Series C funding round. This followed another funding round in May, where an additional $6 billion was raised. The company's last recorded valuation was approximately $51 billion, as per data gathered by PitchBook.
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