04:04 PM EDT, 05/09/2024 (MT Newswires) -- Elon Musk's AI startup X.AI is close to finalizing a funding round at about $18 billion valuation, Bloomberg reported Thursday, citing people familiar with the matter.

The size of the funding round has not been finalized yet, but it could be as soon as this week and could see participation from Sequoia Capital, the report said. However, these details could change as discussions are still in progress.

Attempts to reach out to Musk did not yield any immediate response for MT Newswires.

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