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Even before Elon Musk and President Donald Trump’s public falling out, selling debt for the tech mogul’s companies has always been tricky for Morgan Stanley. But xAI Corp. was supposed to be different.
Beyond the frenzy around artificial intelligence in markets of late, internal numbers, which the bank revealed to a select group of investors Thursday, show a company that anticipates generating more than $13 billion of annual earnings by 2029, according to a person with knowledge of the figures.
Yet the Musk-Trump feud, which has exploded into…
