Elon Musk's xAI company raised $5 billion in equity in addition to $5 billion in debt financing, Morgan Stanley said, according to The Information. Morgan Stanley is advising on the debt deal, but did not disclose specific names of debt or equity investors.
In December, xAI raised $6 billion from investors including Andreessen Horowitz, BlackRock, Lightspeed Venture Partners and MGX to build an AI data center and improve its ChatGPT-like product, Grok. It subsequently acquired Musk's social media company X in an all-stock deal, valuing the combined company at $113 billion.
The debt financing includes $3 billion bonds yielding 12.5 per cent, a $1 billion fixed-rate term loan with an interest rate of 12.5 per cent and a $1 billion term loan with an interest rate of 7.25 percentage points above the base rate at a discount of 96 cents per dollar, according to a person familiar with the matter.
Musk's xAI raises $10 billion in debt and equity funding
2025-07-01 00:59:58
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