Elon Musk's xAI is set to outpace X's valuation by over four times, aiming for a $40 billion mark as Fidelity cuts X's worth by 79% to $9.4 billion.

The new fundraising effort would substantially increase startup’s valuation from spring.

Elon Musk’s artificial intelligence firm, xAI, has met with investors about a funding round that could value the company at around $40 billion, The Wall Street Journal reported, as xAI tries to keep up with increasingly higher valuations at rival companies such as OpenAI.

By 2040, there will be at least 10 billion humanoid robots priced between $20,000 and $25,000, Elon Musk said at the 8th Future Investment Initiative conference, which began on Tuesday in Saudi Arabia's capital,