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Musk's xAI raising $6 billion at $18 billion valuation: Report

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Elon Musk's AI startup xAI is close to raising $6 billion at a pre-money valuation of $18 billion, TechCrunch reported. The deal would reportedly give investors around 25% stake in the 10-month-old company and is expected to be finalised in the next few weeks. Sequoia Capital and Future Ventures are among the investors participating in the round, the report said.