Elon Musk's artificial intelligence company, xAI, has launched a $5 billion debt sale and a $300 million share sale.
The debt sale through Morgan Stanley is for general corporate purposes, with commitments due by June 17. The share sale allows employees to sell their shares to new investors, valuing xAI at $113 billion.
The acquisition of Musk's social media platform, X, played a significant role in xAI's valuation and future plans, according to Musk.
xAI had previously raised $5 billion in November, valuing it at $50 billion. The recent funding round aimed to expand its AI capabilities with additional Nvidia chips.