Elon Musk's xAI is seeking to raise $10 billion, aiming to achieve a valuation of $75 billion. The startup, which raised $6 billion in December, is backed by notable investors Sequoia and Andreessen Horowitz. xAI is positioning itself to compete with established players like OpenAI, claiming to have developed an AI model superior to those of competitors such as DeepSeek and OpenAI. The company is also focused on enhancing its AI infrastructure. Meanwhile, financial firms are increasing their investments in AI, with 98% planning to boost spending in 2025, as AI continues to transform various sectors including banking and trading. Other AI startups, such as 'Safe Superintelligence', founded by former OpenAI chief scientist Ilya Sutskever, are also attracting significant investment, with reports suggesting a potential raise of over $1 billion at a valuation of $30 billion.