XAI raises $10 billion. What does it mean for Memphis?
Financial firm Morgan Stanley says xAI has secured $5 billion in debt financing and an additional $5 billion in equity. (Patrick Lantrip/The Daily Memphian file)
Elon Musk’s xAI has secured $10 billion to further fund its expansion and operations, according to financial firm Morgan Stanley.
Morgan Stanley posted on X Monday, June 30, that the artificial intelligence company had secured $5 billion in debt financing and an additional $5 billion in equity.
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Samuel Hardiman
Samuel Hardiman is an enterprise and investigative reporter who focuses on local government and politics. He began his journalism career at the Tulsa World in Tulsa, Oklahoma, where he covered business and, later, K-12 education. Hardiman came to Memphis in 2018 to join the Memphis Business Journal, covering government and economic development. He then served as the Memphis Commercial Appeal’s city hall reporter and later joined The Daily Memphian in 2023. His current work focuses on Elon Musk’s xAI, regional energy needs and how Memphis and Shelby County government spend taxpayer dollars.
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