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Benzinga

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Mohd Haider

Elon Musk's xAI Secures $10 Billion In Debt And Equity Amid Soaring Burn Rate As AI Arms Race Intensifies

XAI X Morgan Stanley Nasdaq

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Elon Musk‘s xAI has successfully secured a massive $10 billion in fresh debt and equity. This move is a bid to expand AI infrastructure through data centers, amidst intensifying industry competition.

What Happened: Musk’s xAI has completed a $5 billion debt raise alongside a separate $5 billion strategic equity investment, reported Reuters.

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