xAI to complete new round of financing at a valuation of $24 billion

According to sources cited by Bloomberg, Elon Musk's artificial intelligence company xAI will complete a round of financing in June, with a valuation of over $24 billion after financing. The company originally planned to raise $6 billion this month. It is said that xAI's goal is to raise as much as $6.5 billion and is expected to achieve this goal in the coming weeks.

Previously, xAI announced plans to open source its ChatGPT competitor Grok, which is supported in part by data from Musk's social media platform X (formerly Twitter).