AI
Musk’s xAI raises $5 billion each in fresh debt and equity, Morgan Stanley says
Elon Musk‘s xAI has completed a $5 billion debt raise alongside a separate $5 billion strategic equity investment, Morgan Stanley said on Monday, as the startup looks to expand its AI infrastructure through data centres amid intensifying competition in the industry.
The $5 billion raised in debt consists of financing of secured notes and term loans, Morgan Stanley in a statement posted on social media platform X. The deal was oversubscribed and included prominent global debt investors, it added.
Reuters earlier reported that xAI was on track to close…
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