Elon Musk’s XAI Holdings is in talks with investors to raise roughly $20 billion in funding for his newly combined artificial intelligence startup and social media business, according to people familiar with the matter.

Elon Musk's xAI Holdings is in discussions with investors to raise about $20 billion, Bloomberg News reported Friday. The funding would value the company at over $120 billion, according to the report.

Elon Musk’s XAI Holdings is speaking with investors to raise around $20B for the just-combined AI startup and social-media company, Bloomberg reported Saturday, citing people familiar with the matter.