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Bloomberg claims Musk's company xAI received a $500 million investment, Musk denies: This is fake news from Bloomberg.

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Bloomberg: xAI Secures $500 Million Investment Commitment, Valued at Least $15 Billion

Bloomberg cited sources saying that xAI, an AI company owned by Elon Musk, has received a $500 million investment commitment towards its $1 billion funding goal.

The sources mentioned that the company is discussing a valuation of $15 billion to $20 billion, although the terms may still change in the coming weeks. The source, who refused to disclose their identity due to the lack of authorization to discuss the investment, provided this information.

It is possible that the investors in xAI overlap with those in its predecessor companies, Twitter and xAI. Musk's acquisition of X, which involved $4.4 billion, included investors such as Larry Ellison, the founder of Oracle, Sequoia Capital, a16z, Fidelity, and Binance.

Elon Musk established xAI last year to compete with products like OpenAI.

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Musk: This is Fake News from Bloomberg

However, Elon Musk responded to both tweets, stating that this is fake news from Bloomberg and that the information is inaccurate.

Earlier reports confirmed that xAI did submit documents to the SEC in December, aiming to raise up to $1 billion through the issuance of new shares. At that time, $134.7 million of securities had already been sold, with $865.3 million remaining to be sold, and a minimum investment amount of $2 million.

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