Morgan Stanley (MS) is arranging a $5 billion debt package for Elon Musk's artificial intelligence firm xAI, Bloomberg reported Monday, citing a source familiar with the matter.
The debt package includes a term loan B, a fixed-rate term loan, and senior secured notes, Bloomberg said, adding lenders' commitments are due on June 17.
Proceeds would be used for general corporate purposes, the report said.
Separately, Financial Times reported that xAI is launching a $300 million stock offering that values the company at around $113 billion.
Morgan Stanley and xAI didn't immediately respond to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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