$1.6 trillion! Musk is about to create another super unicorn.

On November 20th, according to a recent report by the Wall Street Journal, sources familiar with the matter revealed that Elon Musk's AI unicorn xAI is in talks for a new round of equity financing of $15 billion (approximately RMB 106.62 billion) at a valuation of $230 billion (approximately RMB 1.6 trillion). If the deal goes through, its valuation will be double the $113 billion (approximately RMB 803.21 billion) valuation disclosed when xAI acquired X in March of this year. According to the aforementioned sources, Musk's wealth management advisor, Jared Birchall, briefed investors on the terms of this round of financing on Tuesday evening.

It is currently unclear whether the expected valuation disclosed by Birchall to investors has been included in the new financing amount. Birchall and a spokesperson for xAI did not immediately respond to requests for comment.

CNBC reported on xAI's financing plans last week, and a user posted related messages on the X platform, to which Musk himself replied "untrue" in the comments section.

In July of this year, xAI raised $5 billion (approximately RMB 35.54 billion) each in equity and debt financing to build the Tenn data center in Memphis, Tennessee. According to a previous report by the Wall Street Journal, Musk's SpaceX invested $2 billion (approximately RMB 14.22 billion) in this round of financing.

Elon Musk, as CEO of Tesla, has publicly supported the idea of Tesla investing in xAI. At the recent shareholder meeting, Tesla shareholders reacted differently to the board's proposal for this investment, and the final decision has now been handed over to the board.

On the eve of the shareholder meeting, Tesla Chairman Robyn Denholm told the Wall Street Journal that she had doubts about the logic behind such an investment and stated that the board had not yet conducted any due diligence necessary to proceed with the investment.

According to the Wall Street Journal, Musk shifted his focus to xAI after concluding his duties with the U.S. federal government. The company has recently seen several senior management changes, including the departure of Linda Yaccarino, CEO of the X platform, and the appointment of former Morgan Stanley executive Anthony Armstrong as xAI's CFO.

Conclusion: xAI's investment continues to increase.

If this funding round is successfully completed, xAI will not only have $15 billion in funding, but its valuation will also double compared to the amount raised in March. Musk's series of capital moves will directly serve the core goal of enhancing Grok's capabilities and competing with rivals such as OpenAI. Currently, many AI startups, including xAI, are rapidly spending money on building and optimizing their model training infrastructure. To train higher-order multimodal large models, companies need to invest in tens of thousands of high-end GPUs, along with dedicated data centers and high-speed networks, and the costs are increasing exponentially.