Morgan Stanley says xAI raised $5B of equity in addition to $5B in debt; the startup raised $6B in December from a16z, BlackRock, Lightspeed, MGX, and others
Elon Musk's xAI raised $5 billion of equity in addition to $5 billion in debt, according to Morgan Stanley, which advised on the debt transactions.
Morgan Stanley is pleased to announce the successful completion of a $5 billion financing of Secured Notes and Term Loans for @xAI, a leading innovator in artificial intelligence technology. This transaction, which was oversubscribed and included prominent global debt investors, …
I have a crazy conspiracy theory > Be Elon, 2023 > Have 17% stake in Tesla but want 25%+ > Sell 3% Tesla stock to buy Twitter > Change name to X, own +50%, valued at $44B > Found XAI, own ~70%, valued at $20B > Raise money for XAI at $50B > Merge X and XAI, own 65-75%, valued