“In March, Mr. Musk said he had sold X, which is a privately held company, to xAI, his artificial intelligence start-up, in an unusual arrangement that showed the financial maneuvering inside his business empire. The all-stock deal valued xAI at $80 billion and X at $33 billion, Mr. Musk said. Since then, xAI has been in talks to raise new financing that could value it at as much as $120 billion.”