On Thursday afternoon, Morgan Stanley had gathered a group of executives from xAI, Elon Musk’s artificial-intelligence company, to pitch Wall Street on why they should lend billions of dollars to a cash-burning, high-growth startup.

Shayne Coplan, the prediction market's CEO, said that the two "truth-seeking apps" would be stronger together.

Elon Musk's AI startup xAI expects to earn over $13 billion annually by 2029, according to projections shared by its banker, Morgan Stanley, Bloomberg reported. Morgan Stanley is offering access to xAI’s financials to investors willing to commit at least $50 million as it seeks to raise $5 billion through a debt sale.