Elon Musk's artificial intelligence company, xAI, is reportedly in talks to raise a staggering $10 billion in funding, which would value the company at a whopping $75 billion. According to a Bloomberg report, xAI is currently canvassing its existing investors, including prominent names such as Sequoia Capital, Andreessen Horowitz, and Valor Equity Partners, to secure the massive investment.

If successful, this funding round would bring xAI's total raised capital to $22.4 billion, as per Crunchbase data. Notably, the discussions are ongoing, and the terms of the fundraising round may still be subject to change. This significant influx of capital comes at a time when xAI is reportedly planning to make substantial investments in its AI technologies and infrastructure.

One such investment plan involves the potential purchase of over $5 billion worth of servers from Dell. This move is aimed at supporting the development of xAI's AI technologies, including its Grok models. The Grok AI powers a growing number of features on Elon Musk's X social network, including summaries of trending discussions.

In a recent live-streamed appearance at a Dubai technology conference, Elon Musk announced that the next major version of Grok, Grok 3, is set to be released in the next several weeks. This upcoming release is likely to further accelerate the adoption and development of xAI's AI technologies.

The potential $10 billion funding round and xAI's expansion plans have significant implications for the AI industry as a whole. With a valuation of $75 billion, xAI would solidify its position as a leading player in the AI space, enabling it to further accelerate innovation and development in the field. As the AI landscape continues to evolve, xAI's moves will undoubtedly have a ripple effect on the industry, shaping the future of artificial intelligence.

As the discussions surrounding the funding round continue, the tech community will be watching closely to see how this development unfolds. One thing is certain – xAI's ambitious plans and massive funding goals are set to have a lasting impact on the AI industry.