**Elon Musk's xAI Aims for $113 Billion Valuation, Poised to Join Exclusive Hectocorn Club**

In an ambitious step, Elon Musk's artificial intelligence firm, xAI, is aiming for a remarkable $113 billion valuation, potentially making it the fourth-most-valuable startup worldwide. This valuation target positions xAI within an elite group of "hectocorns" – private companies valued at over $100 billion.

When venture capitalist Aileen Lee first coined the term "unicorn" in 2013 to describe startups valued at over $1 billion, it was meant to signify their rarity. Fast forward to today, and the landscape has dramatically changed: there are now over 1,200 unicorns globally, with 705 of them based in the United States alone.

According to data from CB Insights, only a few startups have managed to break the $100 billion threshold. If xAI achieves its goal, it will join the ranks of ByteDance, OpenAI, and SpaceX, another venture by Musk.

To move closer to this target, xAI is planning a small secondary offering worth $300 million. This offering will enable investors to purchase shares from employees, thus providing some of the company's earliest stakeholders with liquidity. Following this, a larger primary offering is anticipated to shore up the company's valuation even further.

This move represents a substantial increase from the $33 billion valuation of X (formerly Twitter), which Elon Musk acquired earlier this year in March. xAI's trajectory shows Musk's ongoing influence and ambition in the tech space, underlining his continuous drive to break new ground.

The world watches closely as xAI stands on the brink of joining a supremely exclusive club of startups, marking another milestone in Musk's storied career.