Elon Musk’s xAI Is in Advanced Talks to Raise $15 Billion, Lifting Valuation

Musk's xAI is reportedly in advanced discussions to raise $15 billion, aiming for a valuation of $230 billion, according to the Wall Street Journal. This potential funding round highlights the growing interest and investment in artificial intelligence technologies. The discussions come at a time when the AI sector is experiencing significant growth and scrutiny, with major players like Nvidia also under the spotlight for their earnings and impact on the market.

Elon Musk attended a dinner hosted by former President Donald Trump for Saudi Crown Prince Mohammed bin Salman, signaling a potential reconciliation between Trump and the Saudi leadership. This event reflects ongoing efforts to strengthen ties between the U.S. and Saudi Arabia, particularly in light of recent discussions surrounding significant investments and defense agreements. Musk's presence at the dinner highlights his influential role in the tech and business sectors, especially as he navigates relationships with global leaders.

Elon Musk and Jensen Huang are set to discuss artificial intelligence at the upcoming US-Saudi investment forum. This event highlights the growing interest and investment in AI technologies, particularly in the context of international collaboration between the United States and Saudi Arabia. The forum aims to foster partnerships and explore opportunities in the rapidly evolving tech landscape.

Elon Musk's artificial intelligence company, xAI, is reportedly in advanced discussions to raise $15 billion, aiming for a valuation of $230 billion, according to the Wall Street Journal. This funding round reflects the increasing interest and investment in AI technologies, highlighting Musk's ongoing influence in the tech sector. The potential investment could significantly bolster xAI's capabilities and market position as it competes in a rapidly evolving industry.

Elon Musk attended a black-tie dinner at the White House hosted for Saudi Crown Prince Mohammed bin Salman. This appearance is seen as a sign of improving relations between the Saudi leadership and former President Donald Trump, reflecting a potential shift in diplomatic ties. The event underscores the growing partnership between the U.S. and Saudi Arabia, particularly in the context of economic and defense collaborations.

Elon Musk has reignited his long-standing feud with Bill Gates after the Gates Foundation sold 65% of its Microsoft stake, resulting in an estimated gain of $8.8 billion. Musk took to X (formerly Twitter) to criticize Gates, particularly targeting his philanthropic efforts while holding a significant short position against Tesla. This public spat highlights the ongoing tensions between the two billionaires, reflecting Musk's disdain for Gates' financial strategies.

Nvidia's upcoming earnings report is poised to be a critical indicator for investors following a notable market pullback. The results are expected to provide essential signals regarding the company's performance and the broader technology sector's health, particularly in the context of the ongoing AI boom. Investors are closely monitoring these developments as they could significantly influence market sentiment on Wall Street.

Oil prices declined during the morning Asian session, reflecting a risk-off sentiment among investors. This downturn indicates growing concerns about market stability and potential oversupply issues, contributing to a negative outlook for oil trading.