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Elon Musk’s xAI is seeking a valuation of $113 billion in a share sale worth $300 million, the Financial Times reported on Monday, citing people close to the situation.
The deal would allow employees to sell shares to investors and a larger investment round is expected to follow the secondary stock offer, in which xAI will offer new equity to outside investors, the FT report said.
The artificial-intelligence startup acquired X, Musk’s social media business, in March.
The deal valued xAI at $80 billion and social media platform X – formerly known as…
