AsianFin—Billionaire entrepreneur Elon Musk’s artificial intelligence startup X.AI Corp. is nearing a deal to raise $6 billion in a funding round that would value the company at $18 billion, according to a person familiar with the matter. Sequoia Capital will participate in the deal along with other investors, said the person. Bloomberg had previously reported that the company was in discussions to raise $3 billion to $4 billion in the deal as it aims to rival major AI players, such as OpenAI.