News

Musk raises $5 billion for xAI amid political shift

Elon Musk seeks $5 billion for xAI Corp. after shifting focus from politics to ramping up AI investments.

Published

9 months ago

June 3, 2025

Ahron Young

Elon Musk seeks $5 billion for xAI Corp. after shifting focus from politics to ramping up AI investments.

In Short:
Elon Musk is raising $5 billion in debt for his AI startup, xAI Corp, to expand infrastructure, particularly a major data centre in Memphis. This funding move follows his exit from political involvement and comes with strong investor interest, evidenced by already surpassing $3.5 billion in demand.

Elon Musk is raising $5 billion in debt for his artificial intelligence startup, xAI Corp. This move comes after he announced his departure from political involvement.

Morgan Stanley is managing the debt sale, which features a double-digit interest rate. The funds will support Musk’s expansion of AI infrastructure, particularly a significant data centre in Memphis.

Musk’s shift away from politics follows his role as an adviser to President Donald Trump during the 2024 election, where he was a prominent backer.

Debt demand

The debt offering includes a floating-rate term loan, a fixed-rate term loan, and senior secured notes, with expected commitments by June 17. Early pricing suggests a floating-rate loan at 7 percentage points over the benchmark and around a 12% yield on the senior notes. Demand for the debt has already surpassed $3.5 billion.

Musk’s political presence received criticism, coinciding with a 20% decline in Tesla’s stock since the new administration took office. Additionally, he has raised $650 million for Neuralink and is selling $300 million in xAI stock.

Musk has merged xAI with his platform X into XAI Holdings and is significantly investing in the Memphis data centre dubbed Colossus. According to past reports, he has been in discussions to secure around $20 billion in funding, reflecting strong investor interest in artificial intelligence.

News

Man shot dead after breaching security at Mar a Lago

Man in 20s dies after breaching Mar-a-Lago, armed; Secret Service opened fire, citing no immediate danger inside.

Published

3 hours ago

February 23, 2026

Harvey Vargas

Man in 20s dies after breaching Mar-a-Lago, armed; Secret Service opened fire, citing no immediate danger inside.

A man in his early 20s has been shot and killed after breaching the secure perimeter at President Trump’s Mar a Lago residence in Florida, according to the Secret Service. Officials say the president and first lady Melania Trump were in Washington DC at the time of the incident.

Authorities report the man was armed with a shotgun and a petrol canister when he approached the north gate. He was confronted by a sheriff’s deputy and two Secret Service agents who ordered him to drop the items before the situation rapidly escalated.

After putting down the petrol can, the man allegedly pointed the shotgun at officers, who then opened fire. Law enforcement says there was no immediate danger to anyone inside the property.

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News

Iran signals nuclear concessions as U.S. talks intensify

Iran may concede on its nuclear program for US recognition and sanctions relief, considering uranium exports and oil sector investments.

Published

3 hours ago

February 23, 2026

Harvey Vargas

Iran may concede on its nuclear program for US recognition and sanctions relief, considering uranium exports and oil sector investments.

Iran is signalling it’s prepared to make concessions on its nuclear programme in exchange for U.S. recognition and sanctions relief, as fresh talks between Iran and the United States reveal deep divisions but renewed diplomatic momentum.

Tehran is reportedly considering sending its highly enriched uranium abroad and even forming a regional enrichment consortium to keep negotiations alive and avoid military escalation. Officials say an interim agreement could still be within reach despite the sticking points.

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News

UK police seek former aides’ insights on Prince Andrew

UK police contact ex-protection officers of Prince Andrew amid misconduct investigation linked to Jeffrey Epstein allegations

Published

2 days ago

February 21, 2026

Ahron Young

UK police contact ex-protection officers of Prince Andrew amid misconduct investigation linked to Jeffrey Epstein allegations

In Short:
– Police seek former protection officers of Prince Andrew for info on alleged Epstein-related offences.
– Authorities consider removing Mountbatten-Windsor from royal succession after investigation conclusions.

British police are reaching out to former protection officers of Prince Andrew Mountbatten-Windsor following his recent arrest related to allegations of misconduct in a public office.

The police have urged anyone with information about potential sex offences connected to Jeffrey Epstein to come forward.Authorities are considering legislative measures to remove Mountbatten-Windsor from the royal succession line once the investigation concludes. Any changes would require consultation with other realms where King Charles is head of state.

The recent allegations stem from claims that Mountbatten-Windsor shared confidential government documents with Epstein during his time as a trade envoy. The London Metropolitan Police is now identifying former officers who may assist in the ongoing investigation and has encouraged them to share any pertinent information.

Mountbatten-Windsor has denied wrongdoing in the Epstein matter.

In 2022, he settled a civil lawsuit filed in the U.S. by Virginia Giuffre, who accused him of sexual abuse. Reports indicated he paid her approximately £12 million, a claim he denies.

Police Investigation

London authorities are reassessing previous decisions not to pursue criminal investigations related to Epstein’s activities.

Recent document releases from the U.S. government have prompted police to explore allegations of human trafficking involving Epstein at UK airports.

Police have been actively searching Mountbatten-Windsor’s residences as part of their investigation. His arrest marks an unprecedented event in modern royal history, raising significant public interest and concern in various countries.