Insiders: Musk's xAI seeks to raise $10 billion with a valuation of $200 billion.

Sources say that Elon Musk's artificial intelligence company xAI is raising $10 billion from investors, valuing the AI startup at $200 billion. This is the latest example of soaring valuations for companies developing foundational AI models. Earlier this month, Anthropic raised $13 billion at a valuation of $183 billion. The industry's largest company, OpenAI, conducted a secondary stock sale at a valuation of $500 billion. Reports indicate that just weeks before this funding round, Musk raised $10 billion in debt and equity at a valuation of around $150 billion. xAI raised $6 billion for its AI development in December of last year.