Elon Musk’s AI company xAI has surpassed a $100 billion valuation milestone, benefiting key stakeholders. The significant increase in value is expected to bring substantial returns for investors who have backed Musk’s ventures.
Elon Musk’s xAI Just Doubled Its Valuation to $50B—Here Are 4 Biggest Winners? Elon Musk’s artificial intelligence (A.I.) startup, xAI, has doubled its valuation to $50 billion in a recent funding round. This significant increase in value is expected to bring substantial returns for investors who have backed Musk’s ventures.
Fidelity Investments, which initially valued its stake in X at $19.66 million, saw a 72% decrease in value due to the social media company’s plunging worth. However, the mutual fund manager’s investments in xAI have moved in a more positive direction, with its stake rising by 70% from September to October.
Saudi Prince Alwaleed bin Talal, an early Twitter investor who pledged $1.9 billion towards Musk’s acquisition of the social media platform, has seen his investment company Kingdom Holding participate in xAI’s $5 billion fundraising earlier this year.
Andreessen Horowitz and Sequoia Capital have both participated in xAI’s funding rounds this year. The venture capital firms have injected around $11 billion into the startup, with a significant portion of that coming from their investments in A.I. companies like OpenAI and Safe Superintelligence.
The doubling of xAI’s valuation to $50 billion is expected to bring substantial returns for investors who have backed Musk’s ventures. Fidelity Investments, Prince Alwaleed bin Talal, Andreessen Horowitz, and Sequoia Capital are among the biggest winners in this recent development.
