During an investor call, Elon Musk indicated a potential valuation adjustment for his AI startup xAI, suggesting that the company may be preparing for a significant capital raise. The recent merger of xAI with X, which values X at $33 billion and xAI at potentially $80 billion, is expected to enhance the startup's competitive position in the AI arena with the integration of resources. Musk aims to establish a 'proper value' for xAI and its growth ambitions, particularly with the introduction of its Grok chatbot.
"Let me give you some takeaways from the call itself. It was with a number of the companies, the investors in xAI going over a number of important things, that included the closing of the X transaction... Remember, xAI and X are now one company valuing X at $33 billion going in. xAI had a value of as much as $80 billion."
"What I've heard is the company is setting up for another capital raise of great significance... But on the call, Musk is quoted as having said, 'We're going to put a proper value on the company in reference to xAI,' and people took that to mean, and again this is speculation, that they will have a large raise."
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