02:25 PM EDT, 10/29/2024 (MT Newswires) -- Elon Musk's xAI is negotiating a new funding round with investors to raise several billion dollars that will value it at $40 billion, the Wall Street Journal reported Tuesday, citing people familiar with the matter.

The startup raised $6 billion in May at a valuation of $24 billion, according to the report.

The funding talks are at a preliminary stage and may be subject to change with no guarantee that a deal will be reached, the report added.

xAI did not immediately respond to MT Newswires' request for comment.

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