XAI is tapping into the booming private-credit market to find the cash it needs to build massive data centers.

Elon Musk's artificial intelligence startup xAI is working with a financier to secure up to $12 billion more for its expansion plans, the Wall Street Journal reported on Tuesday, citing people familiar with the situation.

Elon Musk’s SpaceX is channeling $2 billion into xAI, marking its first significant investment in Musk’s AI startup. This deal represents nearly half of xAI’s recent $5 billion fundraising round. With xAI now valued at $113 billion after merging with X (formerly Twitter),