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Elon Musk's xAI Launches $300M Share Sale Amid Delays

6/3/2025

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Summary

Story summary

xAI, Elon Musk's AI startup, is initiating a $300 million share sale, valuing the company at $113 billion.
This sale enables employees to sell shares to new investors ahead of a larger funding round.
xAI previously acquired Musk's social media platform, X, for $33 billion.
Musk is shifting focus back to his companies after a short political engagement.
The company has experienced delays in upgrading its AI model, Grok.

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Story summary

xAI, Elon Musk's AI startup, is initiating a $300 million share sale, valuing the company at $113 billion.
This sale enables employees to sell shares to new investors ahead of a larger funding round.
xAI previously acquired Musk's social media platform, X, for $33 billion.
Musk is shifting focus back to his companies after a short political engagement.
The company has experienced delays in upgrading its AI model, Grok.