Elon Musk’s xAI Raises $5 Billion; Deal Oversubscribed, Says Morgan Stanley
Elon Musk’s artificial intelligence startup xAI has successfully raised $5 billion in its latest funding round, with Morgan Stanley, the lead banker on the transaction, describing the deal as “massively oversubscribed.” This fundraising marks a crucial step for xAI as it accelerates its plans to compete with global AI leaders like OpenAI, Google DeepMind, Anthropic,…