Elon Musk’s AI startup xAI is in advanced discussions to secure $15 billion in new equity funding at a valuation of $230 billion, the Wall Street Journal reported Tuesday.

According to the report, Musk’s wealth manager, Jared Birchall, outlined the fundraising terms to investors Tuesday night. It remains unclear whether the $230 billion figure represents a pre- or post-money valuation, the Journal added.