(Reuters) – The American start-up specializing in artificial intelligence created by Elon Musk, xAI, has initiated discussions with international investors with a view to raising up to 6 billion dollars (5.53 billion euros) , the Financial Times reported on Friday, citing several sources familiar with the matter.
According to the daily, the fundraising could bring the valuation of xAI up to $20 billion.
The company is in talks with wealth managers in Hong Kong and is also targeting sovereign wealth funds in the Middle East, according to the Financial Times.
Elon Musk has also approached investors in Japan and South Korea, the newspaper adds.
Musk’s office did not immediately respond to a Reuters request for comment.
Last week, Elon Musk denied a report that xAI had secured $500 million in commitments from investors toward a billion-dollar funding target.
(Reporting Urvi Dugar, Niket Nishant and Akash Sriram in Bangalore; French version Augustin Turpin)
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