Elon Musk's AI startup xAI expects to earn over $13 billion annually by 2029, according to projections shared by its banker, Morgan Stanley, Bloomberg reported. Morgan Stanley is offering access to xAI’s financials to investors willing to commit at least $50 million as it seeks to raise $5 billion through a debt sale. The impact of Musk’s feud with Trump on the fundraising process remains unclear. xAI expects $1 billion in gross revenue by year-end and $14 billion by 2029 but posted a $341 million EBITDA loss in the first quarter. The startup plans $18 billion in future data center investments after spending $2.6 billion. xAI is also pursuing a $300 million share sale at a $113 billion valuation.
