Valuations of AI Firms Skyrocket as Trumps Double Their Net Worth

Elon Musk’s artificial intelligence firm xAI is expected to raise $10 billion in a funding round that would give the company a $200 billion valuation, CNBC reported.

The funding round would push xAI's worth more than competitor Anthropic’s $183 billion, but still below that of OpenAI. (Photo: xAI X)

That would make xAI worth more than competitor Anthropic’s $183 billion but still below OpenAI, which is planning a secondary share sale that could value it at $500 billion, Forbes reported.

Private equity firm Veritas Capital, whose portfolio companies depend heavily on government spending, remains confident in its growth despite budget cuts from the Trump administration’s Department of Government Efficiency.

CEO Ramzi Musallam said Veritas, which closed its ninth flagship fund at $14.4 billion earlier this month, is focused on “must-have” technology that reduces waste.

Meanwhile, no US president — or extended family — has leveraged the office for profit as successfully as the Trumps.

With crypto serving as the main driver, the family, including President Trump’s son-in-law Jared Kushner, is now worth an estimated $10 billion, nearly doubling their net worth since last year’s election.