SpaceX has committed $2 billion to xAI as part of a $5 billion equity round, deepening the ties between tech billionaire Elon Musk's ventures as his artificial intelligence startup races to compete with rival OpenAI,

The startup is leaning on Musk’s business empire to play catch-up in the AI race.

XAI Holdings, Elon Musk’s artificial intelligence and social media company, is in the early stages of a funding round that could value the business at $200 billion, according to a report in the Financial Times.