Equity: $2.46 billion (as implied by the current WOLF stock price; current $123 million valuation for 5% ownership of Newco) 2030 Senior Notes (9.875% interest): $1.263 billion ...

Apart from selling debt, xAI has also been in talks to raise about $20 billion in equity, which would value the company at more than $120 billion, with some investors placing valuations as high as ...