According to new, anonymously-sourced reports from The Information and TechCrunch, Musk's AI company xAI is currently raising $6 billion on a $18 billion pre-money valuation, and the deal is expected to close in a matter of weeks.

Jared Birchall, who heads Musk's family office, was telling prospective investors that xAI was raising $3 billion at a $15 billion pre-money valuation. Sequoia Capital and Future Ventures, the venture fund co-founded by Musk’s longtime friend Steve Jurvetson,

Sequoia’s support for xAI comes as no surprise, the Silicon Valley investment firm is a long-time collaborator and backer of Musk, including The Boring Company and SpaceX. Roelof Botha, Sequoia’s current boss, was hired by fellow South African, Musk at PayPal in 2000.