PANews June 3, according to the Financial Times, xAI, founded by Elon Musk, is conducting a $300 million share resale transaction, raising the company's valuation to $113 billion. The transaction allows employees to sell their holdings to new investors and may trigger a subsequent larger round of financing. Previously, xAI completed financing with a valuation of $45 billion at the end of 2023 and acquired the social platform X (formerly Twitter) in March this year. Musk said he will focus on developing xAI, X and Tesla's key technology deployment.