Musk's xAI Seeks $300M in Tender Offer, Valuing Firm at $113B
Summary
Elon Musk's AI startup, xAI, is reportedly launching a $300 million tender offer that values the company at $113 billion, allowing staff to sell shares while raising funds for future growth amidst challenges with Musk's other ventures.
Key Points
- Elon Musk's AI startup xAI is reportedly launching a $300 million share sale that values the company at $113 billion
- The tender offer will allow xAI staff to sell shares to new investors and is expected to precede a larger investment round
- The move comes as Musk aims to shift his attention back to his companies after his time in Washington, with Tesla shares hitting a six-month low and X experiencing outages