xAI, 300 million shares for sale. The company is valued at $113 billion

MILAN – Elon Musk’s company xAI is about to launch a $300 million share sale that values ​​the group at $113 billion, in line with the valuation it made when it acquired X last March , the Financial Times has revealed. The move comes as Musk, the world’s richest person, refocuses on his corporate empire and the ongoing race to advance artificial intelligence. The share sale will allow xAI employees to offer their shares to new investors.

According to insiders, this secondary stock offering, also known as a tender offer, will likely be followed by a larger investment round. The AI ​​startup raised a $45 billion valuation in a $5 billion private funding round late last year. Last year, Musk gave investors who backed his Twitter acquisition a 25% stake in xAI.