Summary:
xAI could achieve a $40 billion valuation in upcoming funding rounds.
Current valuation of X is reported at just $9.4 billion.
Fidelity has cut X's worth by 79% since its acquisition by Musk.
If successful, xAI would be valued at over four times that of X.
Elon Musk's xAI Valuation Soars
Elon Musk's xAI is reportedly in discussions to secure new funding that could value the startup at a staggering $40 billion. This would place it at more than four times the current valuation of Musk's social media platform, X, which has been recently valued at $9.4 billion according to Fidelity filings.
Valuation Breakdown
- xAI aims to raise funds at a $40 billion valuation, significantly outpacing X.
- Fidelity has devalued its shares of X by almost 79% since 2022, reflecting a drastic drop from $44 billion to the current valuation.
Fidelity's Insights
According to Fidelity's latest reports, the Blue Chip Growth Fund has valued shares of X at $21.29 each, unchanged from previous estimates. This represents a 78.7% drop from its peak valuation two years ago.
Investment Context
Fidelity has a stake in both companies, estimating its investment in xAI at $44,152,362. If the funding round for xAI is successful, it could redefine the competitive landscape of AI startups, positioning xAI as a formidable player against OpenAI's ChatGPT.
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