Elon Musk’s XAI Holdings is in talks with investors to raise roughly $20 billion in funding for his newly combined artificial intelligence startup and social media business, according to people familiar with the matter.

Elon Musk’s xAI Holdings is in talks with investors to raise roughly $20 billion in funding for his newly combined artificial intelligence startup and social media business, Bloomberg News reported on Friday,

Elon Musk's xAI Holdings is in discussions with investors to raise about $20 billion, Bloomberg News reported Friday. The funding would value the company at over $120 billion, according to the report.

Washington Democrats in the Legislature are mulling a tax aimed primarily at Tesla amid national protests against the DOGE-leading billionaire.

Tesla (NASDAQ: TSLA) stock hit a new record high shortly after President Donald Trump's election win last November because investors thought a friendlier regulatory environment could help the company bring its autonomous robotaxi and humanoid robot to market more quickly.

He's dialing down his DOGE role but Tesla needs a new hit EV and none is on the horizon. And the company’s booming battery business will suffer from Trump’s tariffs.