Musk's artificial intelligence company, xAI, plans to sell $300 million in equity.

The artificial intelligence (AI) company xAI, owned by billionaire Elon Musk, is launching a $300 million share sale, valuing the company at $113 billion according to media reports. This share sale will allow employees to sell shares to investors and is expected to involve a larger round of financing. In the new round of financing, xAI will issue new shares to external investors.

This share sale comes during Musk's departure from the U.S. government and his announcement of refocusing on his personal business footprint. According to Xinhua News Agency, Musk had previously served as a "special government employee" in President Trump's administration, during which he repeatedly signaled a willingness to reduce government workload and refocus on business operations.

During Tesla's April earnings call, Musk stated on his personal social platform that he would refocus on X, xAI, and Tesla, "We are launching key technologies." Previously, Tesla's stock price had fallen to a six-month low at the beginning of March this year, and X Company (formerly Twitter) had experienced multiple outages, with various functions failing to function properly.



      Musk founded xAI in July 2023, focusing on developing general artificial intelligence (AGI) technologies that compete with companies like OpenAI and Google. Since the founding of xAI, the company has launched the large language model "Grok," which is now available for subscription users. Meanwhile, xAI launched the supercomputing cluster "Colossus" project in September 2024, one of the largest AI data center projects in the United States.



       In March of this year, Musk merged xAI and X Company (formerly Twitter), valuing the new company at $113 billion, with xAI valued at $80 billion and X valued at $33 billion. Musk stated that after the merger of xAI and X, the two companies will be able to share models, computing power, distribution channels, and talent resources. AI developers can better leverage data from social media platforms to train models and tap into their audience.