Online reports that Musk's AI startup xAI is negotiating a new round of financing, with a valuation that may rise to US$120 billion, a significant increase from US$80 billion in March. Investors discussed the financing amount of approximately US$20 billion. Previously, Musk had sold social platform X to xAI in an all-stock manner, deeply integrating the two businesses. xAI's chat robot Grok is trained based on X platform user data and contributes part of X's revenue. This round of financing follows OpenAI's announcement of a $300 billion valuation.