People familiar with the matter: Musk-backed AI company X.AI is about to complete financing this week with a valuation of $18 billion

BlockBeats news, May 9, Bloomberg reported, citing people familiar with the matter, that Musk's startup artificial intelligence company X.AI Corp. will receive financing this week at a valuation of approximately $18 billion. The size of the financing round has not yet been finalized, and people familiar with the matter requested anonymity because the information is not public. According to people familiar with the matter, discussions are still ongoing and details such as valuation and timing may still change. Representatives of X (formerly Twitter) did not immediately respond to requests for comment. According to a person familiar with the matter, the OpenAI competitor is marketing this round of financing through a pitch document that highlights potential selling points for investors, touts Musk's track record at Tesla and SpaceX, and points out that x.AI will be able to use high-quality data from X for training. Access to data is critical to building large language models, a technology that powers AI chatbots, and x.AI aims to compete with other well-funded companies such as OpenAI.