Golden Finance reports that Elon Musk has provided 25% of xAI shares to investors who supported his $44 billion acquisition of Twitter (now known as X). xAI was founded last year to compete with the likes of OpenAI and Anthropic. xAI is set to close a new $5 billion funding round as early as Wednesday, people familiar with the matter said, doubling its valuation to $50 billion in just six months. When the funding round closes this week, xAI will have raised a total of about $11 billion to fund the massive spending required to build AI models and one of the world's largest supercomputer clusters. That means some of Musk's backers, who lost billions when he acquired Twitter, stand to profit handsomely from their stake in xAI as the startup's value soars. Investors who will serve as investors in Musk's two companies include Fidelity, Oracle co-founder Larry Ellison, Saudi Prince Alwaleed bin Talal, Twitter founder Jack Dorsey, and Silicon Valley venture capital institutions Sequoia Capital and Andreessen Horowitz (a16z) . (FT)