Elon Musk's AI firm xAI has raised $10 billion at a $200 billion valuation, CNBC reported on Friday, citing sources.

xAI did not immediately respond to a Reuters request for comment.

Morgan Stanley had in late June said that xAI had completed a $5 billion debt raise alongside a separate $5 billion strategic equity investment, as the startup looked to expand its AI infrastructure through data centers amid intense competition.