Asia Tech Wire (Oct 30) -- Elon Musk's artificial intelligence startup xAI is in talks with investors for a round of funding at a valuation of around $40 billion, according to the Wall Street Journal, citing people familiar with the matter.

xAI hopes to raise billions of dollars in a new round of funding, with the cash raised factoring into the $40 billion valuation, the people said.

However, discussions on the financing are at an early stage, which means terms could change and negotiations could break down.

xAI raised $6 billion in a Series B funding round in May, giving it a post-money valuation of $24 billion.