Elon Musk's artificial intelligence startup xAI is in talks to raise $4.3 billion through an equity investment on top of its $5 billion debt funding plans, Bloomberg News reported on Tuesday, citing information shared with investors.

Elon Musk’s artificial intelligence firm xAI is reportedly in talks to raise $4.3 billion in a new equity investment round — as the startup expectes to burn through about $13 billion this year. The company behind snarky AI chatbot Grok has told investors that it needs the money in part because it has used up most of the $14 billion it had previously raised,

Elon Musk's xAI faces a staggering $1 billion monthly cash burn, driven by massive AI training costs and talent acquisition, as it races to compete with industry giants despite rapid Grok development.