Billionaire Elon Musk recently raised funds for his two high-profile tech companies, xAI and Neuralink.
On Monday, it was reported that Morgan Stanley is planning a $5 billion debt financing plan for Elon Musk's artificial intelligence company xAI.
Insiders disclosed that Musk plans to sell $300 million worth of equity in xAI, including Class B term loans, fixed-rate term loans and senior secured notes. The proceeds will be used for general business needs and are committed to being disbursed before June 17th.
Musk recently merged xAI with his social media platform X into one company, named XAI Holdings.
There are rumors that Musk might use the funds raised to cover the construction costs of the Colossus data center in Memphis. This data center currently operates 200,000 graphics processing units (GPUs) for training AI models.
In an interview with CNBC on May 20th, Musk said that he plans to add another one million Gpus at a nearby data center.
Meanwhile, Neuralink, a company owned by Musk that researches brain-computer interface (BCI) technology, has also raised $650 million in its latest round of Series E financing, bringing the company's valuation to approximately $9 billion. It is reported that this round of financing has attracted well-known investors including ARK Invest, Sequoia Capital, Founders Fund and Thrive Capital.
Neuralink raised $280 million in its Series D financing round in 2023 and received another $43 million later that year.
Neuralink's product Telepathy has been implanted in five severely paralyzed patients and achieved good results. The company claims that now all patients can control external devices through its product. Neuralink is conducting four clinical trials in three countries. Its vision recovery product Blindsight and speech recovery system have been awarded the "Breakthrough Device" title by the US Food and Drug Administration (FDA).
Neuralink claims that this fund will help the company bring its technology to more people, help those with unmet medical needs regain their independence, and break through the limits of brain-computer interfaces.
Before making any trading decisions, it is important to equip yourself with sufficient fundamental knowledge, have a comprehensive understanding of market trends, be aware of risks and hidden costs, carefully consider investment targets, level of experience, risk appetite, and seek professional advice if necessary.
Furthermore, the content of this article is solely the author's personal opinion and does not necessarily constitute investment advice. The content of this article is for reference purposes only, and readers should not use this article as a basis for any investment decisions.
Investors should not rely on this information as a substitute for independent judgment or make decisions solely based on this information. It does not constitute any trading activity and does not guarantee any profits in trading.
If you have any inquiries regarding the data, information, or content related to Mitrade in this article, please contact us via email: insights@mitrade.com. The Mitrade team will carefully review the content to continue improving the quality of the article.
