--Internal numbers shared by Morgan Stanley show xAI expects more than $13 billion in annual earnings by 2029, Bloomberg reports, citing a person familiar with the matter.
--The bank showed limited figures about xAI to investors willing to commit at least $50 million for a $5 billion debt sale of the startup, according to people familiar with the matter, the report said.
--XAI expects $1 billion in gross revenue by the end of this year and $14 billion by 2029, one of the people said, according to the report.
--A representative for Morgan Stanley declined to comment and xAI didn't respond to a request for comment, the report said.
Full article at https://www.bloomberg.com/news/articles/2025-06-06/morgan-stanley-opens-xai-books-with-musk-in-trump-crosshairs
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
June 06, 2025 12:05 ET (16:05 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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