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An artificial intelligence startup named xAI, owned by Elon Musk, is seeking to raise $9.3 billion through debt and equity financing. However, according to the transaction terms shared with investors, even if this massive amount of funds is in place, the company plans to consume more than half of it within the next three months.
This astonishing pace of fundraising and expenditure clearly reveals the unprecedented demand for capital in the current AI industry, as well as the relatively modest revenue situation of companies like xAI.
According to insiders, based on the company's leveraged cash flow, xAI, which is responsible for developing the AI chatbot Grok, is expected to consume approximately $13 billion during the 2025 period, meaning monthly expenditures will exceed $100 million. These insiders also noted that xAI's frequent fundraising activities seem to barely keep up with its burn rate.
