Elon Musk’s Twitter backers gain windfall from xAI deal - Investors hit by losses following Musk's takeover reap rewards from shares in AI start-up - Musk has given investors that backed his $44bn Twitter acquisition 25% of shares in xAI

xAI is set to close a new $5bn fundraising round doubling valuation to $50bn in 6 months. Those to benefit include Fidelity, Larry Ellison, Saudi Prince Alwaleed bin Talal, Jack Dorsey, Sequoia Capital, Andreessen Horowitz.

#Musk #Xai

ft.com/content/5c9ca1f6-b6fe-4…

Elon Musk’s Twitter backers gain windfall from xAI deal

Investors hit by losses following billionaire’s takeover of social media platform reap rewards from shares in his AI start-up

^{George Hammond (Financial Times)}