SpaceX Edges Toward Landmark IPO as Elon Musk Confirms Plans 
Australia Enforces World-First Social Media Age Limit as Global Regulation Looms 
Nomura Expands Alternative Assets Strategy With Focus on Private Debt Acquisitions 
Blackstone Leads $400 Million Funding Round in Cyera at $9 Billion Valuation 
California Jury Awards $40 Million in Johnson & Johnson Talc Cancer Lawsuit 
Treasury Wine Estates Shares Plunge on Earnings Warning Amid U.S. and China Weakness 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
iRobot Files for Chapter 11 Bankruptcy Amid Rising Competition and Tariff Pressures 
Intel’s Testing of China-Linked Chipmaking Tools Raises U.S. National Security Concerns 
Mizuho Raises Broadcom Price Target to $450 on Surging AI Chip Demand 
CMOC to Acquire Equinox Gold’s Brazilian Mines in $1 Billion Deal to Expand Precious Metals Portfolio 
EU Signals Major Shift on 2035 Combustion Engine Ban Amid Auto Industry Pressure 
MetaX IPO Soars as China’s AI Chip Stocks Ignite Investor Frenzy 
SUPERFORTUNE Launches AI-Powered Mobile App, Expanding Beyond Web3 Into $392 Billion Metaphysics Market 
Elon Musk’s AI startup xAI is reportedly exploring a new funding round that could value the company between $170 billion and $200 billion, according to the Financial Times. Sources familiar with the matter say Saudi Arabia’s Public Investment Fund (PIF) is likely to be a major participant, given its indirect exposure to xAI through Kingdom Holding Company, which invested $800 million in the firm.
While discussions are still at an early stage and terms may shift, Musk responded to the report on X (formerly Twitter), stating, “xAI is not seeking funding right now. We have plenty of capital.”
In June, Morgan Stanley revealed that xAI had secured $5 billion in debt financing and an additional $5 billion in strategic equity investment. These funds are earmarked for expanding AI infrastructure, including large-scale data centers, as the AI arms race intensifies.
xAI, founded in July 2023 as a rival to OpenAI's ChatGPT, acquired Musk’s social media platform X in March, bringing xAI’s valuation to $80 billion and X to $33 billion at the time. The company forecasts rapid growth, aiming for $1 billion in gross revenue by year-end and projecting over $13 billion in annual earnings by 2029, Bloomberg reported.
xAI’s ambitious roadmap includes $18 billion in future investments for building data centers, signaling its intent to become a major force in generative AI. OpenAI, by comparison, is seeking to raise up to $40 billion at a $300 billion valuation.
As competition in artificial intelligence heats up, Musk’s xAI is positioning itself as a major global contender—backed by sovereign wealth, aggressive infrastructure spending, and integration with social media.
