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Preparing for SpaceX IPO, X and xAI Reportedly Plan to Repay USD17.5B Debt
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Elon Musk's social media platform X and artificial intelligence company xAI are planning to repay a combined debt of approximately USD17.5 billion, Bloomberg reported, citing people with the knowledge of the matter. Morgan Stanley, responsible for the debt financing, informed lenders that both companies will settle all outstanding loans, though the source of the repayment funds has not yet been disclosed, sources divulged. X, formerly known as Twitter, assumed about USD12.5 billion in debt when acquired by Musk, while xAI raised USD5 billion through bond issuance and loan financing in June last year. The two companies later merged under xAI Holdings. In January this year, xAI had completed an equity financing round of USD20 billion. AASTOCKS Financial News Website: www.aastocks.com |
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