Elon Musk’s xAI reportedly looks to raise $300M in tender offer

Billionaire Elon Musk’s AI startup, xAI, is reportedly launching a $300 million share sale that values the company at $113 billion.

According to The Financial Times, the secondary stock offering, which comes after xAI acquired Musk’s social media platform, X, for $33 billion, will allow staff to sell shares to new investors.

The tender offer will facilitate this transaction, reflecting xAI’s growing influence in the tech industry and its strategic financial maneuvers following recent acquisitions.

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