Elon Musk’s xAI Wants To Raise $1 Billion From IPO

According to information filed with the SEC, billionaire Elon Musk's xAI raised $134.7 million in its equity fundraising campaign from the total $1 billion it offered in its IPO.

Elon Musk’s Xai Wants To Raise $1 Billion From Ipo_65b9716ad2c1a.webp

xAI Corp, the artificial intelligence startup founded by Tesla CEO and social network X boss Elon Musk, is planning to raise $1 billion through an initial public offering (IPO), according to records submitted to the US Securities and Exchange Commission (SEC).

The company is known to have raised $134.7 million from an IPO campaign with a total value of $1 billion. The minimum investment amount for an outside investor is set at 2 million USD.

The filing also states that Elon Musk, who took over Twitter and changed its name to X, is also the CEO and director of xAI. Jared Birchall, who has served as CEO of companies such as Goldman Sachs, Merrill Lynch and Morgan Stanley, will manage Elon Musk’s family office.

In April 2023, when Elon Musk merged Twitter into X Corp. And registering xAI as an artificial intelligence startup, he also founded xAI in July 2023. In November, xAI introduced Grok, an AI chatbot that competes directly with OpenAI’s ChatGPT, for users who subscribe to the X Premium+ package for $16/month.

elon musks xai wants to raise 1 billion from ipo 65b9716ad95e1

According to Insider, “The opportunity to build a billion-dollar AI business has never seemed easier than it does for entrepreneurs aspiring to become the next Sam Altman.”

Elon Musk has become a familiar face in the cryptocurrency industry. And his every move can often affect the price of coins in the market. Tesla, which he owns, was also one of the first companies to announce a major investment in Bitcoin and has not made any BTC purchases or sales in the last 5 quarters.

Related: Bitcoin Price Analysis: BTC Bulls Aim Upside Break To $50K

Elon Musk also frequently mentions Dogecoin (DOGE) on his personal social media channels and has launched the ability to accept payments in DOGE on his platforms.

Like many times before, DOGE’s price rose sharply following the news of xAI raising capital from an IPO, adding to the overall market rally. The memecoin has increased more than 5% within 24 hours and is currently trading at around $0.096 at the time of writing.

elon musks xai wants to raise 1 billion from ipo 65b9716addef0

4h chart of the DOGE/USDT pair on Binance at 04:00 AM on December 6, 2023 (UTC)

(100 votes)

5.0/5

(100 votes)

Latest

Bnb Sets New All Time High After Surging 21% In A Week

News | Altcoin | Editor Choice

BNB Sets New All-Time High After Surging 21% in a Week

After surging 21% in just a week, BNB has soared to a new all-time high, capturing the spotlight as the cryptocurrency market rallies.

Crypto Whales Intensify Activity In Uptober As Market Cap Surpasses $4 Trillion

News | Altcoin | Editor Choice

Crypto Whales Intensify Activity in Uptober as Market Cap Surpasses $4 Trillion

The global cryptocurrency market kicked off “Uptober” with renewed enthusiasm as total capitalization surpassed $4 trillion, while whale activity surged — hinting at strategic moves across Bitcoin, Ethereum, and key altcoins amid growing market volatility.

Bitcoin Hits A New Ath As Profit Margins Continue To Shrink

News | Bitcoin | Editor Choice

Bitcoin Hits a New ATH as Profit Margins Continue to Shrink

Although Bitcoin (BTC) continues to set new price records after every halving, historical data shows that the world’s largest cryptocurrency is experiencing diminishing returns with each new cycle.

Cz Says He Was Threatened To Pay $4.4 Billion

News | Editor Choice | Policy & Regulations

CZ Says He Was Threatened to Pay $4.4 Billion

CZ, the founder of Binance, has shaken the crypto world by claiming he was threatened to pay $4.4 billion to avoid false accusations that his exchange financed terrorism.

Binance Hits Record Altcoin Trading Volume As Altseason Heats Up

News | Altcoin | Editor Choice

Binance Hits Record Altcoin Trading Volume as “Altseason” Heats Up

Binance has set a historic record as altcoins captured 82.3% of total trading volume, signaling a new “altseason” fueled by surging institutional inflows and investor demand for non-Bitcoin tokens.

Screenshot 2025 09 10 100533