Elon Musk’s AI startup X AI is looking to raise up to $4 billion in a deal that would value the company at $18 billion

Elon Musk’s AI startup X AI is looking to raise up to $4 billion in a deal that would value the company at $18 billion, per Bloomberg.

Emails regarding potential financing, including a roughly 20-page pitch deck, are circulating among Silicon Valley's venture investing community, according to a source who received one. Individuals close to Musk have initiated discussions within their networks to assess interest in participating in the deal, the source said, requesting anonymity to discuss private information.

The terms and dollar values of the funding round are still in flux and may change, the source added. The Wall Street Journal previously reported some details of the deal.

The pitch deck emphasizes potential selling points for investors, highlighting Musk's successful track record at Tesla Inc. and Space Exploration Technologies Corp. It also notes that xAI will have the ability to train on high-quality data from Musk's social network X. Access to data is crucial for developing large language models, the technology that powers AI chatbots, an area where xAI aims to compete with other well-funded businesses such as OpenAI.