Elon Musk’s artificial-intelligence company, xAI, is in advanced talks to raise $15 billion in new equity at a $230 billion valuation, according to people familiar with the plans. The new valuation would represent a significant increase from the $113 billion it disclosed after merging with Musk’s social-media site,

The breakup between the two men first ignited after Musk, a former special government employee who spearheaded the Department of Government Efficiency (DOGE), argued that the GOP’s budget megabill, which passed over the summer, would add trillions to the national debt and undermine his work at the nongovernmental agency.