xAI, Musk's AI company, is seeking a new round of financing, with a valuation of $40 billion

Elon Musk's artificial intelligence startup xAI is in talks to raise new funding at a valuation of about $40bn, according to people familiar with the matter. The negotiations are still in the early stages and the details are subject to change, the people said. The funding would represent a significant increase in xAI's valuation, putting it in the ranks of the most valuable US start-ups.