2025-07-23
13 分钟Elon Musk is turning to new funding sources to keep pace in the artificial intelligence race.
Plus, private credit firms are seeking in-house lawyers as their deals get more complex.
A few years ago,
private credit mainly referred to middle market direct lending and now it encompasses everything from asset-based lending all the way to collateralized loan obligations and BDCs.
And Discord over the Jeffrey Epstein investigation brings the House of Representatives to a standstill.
It's Tuesday, July 22nd.
I'm Alex Osula for The Wall Street Journal.
This is the PM edition of What's News,
the top headlines and business stories that move the world today.
In an exclusive, we're reporting that XAI, Elon Musk's artificial intelligence startup,
is looking to secure up to $12 billion to fuel its ambitious expansion plans.
That's according to people familiar with the situation.
The money would be used to buy a massive supply of advanced Nvidia chips that would be leased to XAI for a new jumbo-sized data center meant to help train and power the AI chatbot Grok.
Valor Equity Partners, an investment firm whose founder Antonio Gracias has close ties to Musk,
is in talks with lenders to raise the capital.
Musk needs all the financial firepower he can get to stay competitive in a wild and costly AI battle with well-funded rivals like Google,
Microsoft, and Meta.
Grok hasn't gained nearly as much traction as OpenAI's ChatGPT.
The funding push comes just weeks after the company raised $10 billion through sales of stock and debt.
With XAI's balance sheet already stretched, Musk is getting creative to keep the money flowing.