Jocelyn Fernandes( with inputs from Bloomberg) Updated 3 Jun 2025, 11:31 AM IST Elon Musk, CEO of Tesla, SpaceX and other companies, wears a DOGE hat in the White House Oval office on May 30. He exited the Donald Trump administration and promised to refocus on his many companies. (Photographer: Francis Chung / Politico / Bloomberg) Days after announcing his departure from the Donald Trump administration and as chief of the Department of Government Efficiency (DOGE), billionaire Elon Musk has refocused his efforts towards raising funds for his companies, according to a Bloomberg report. Elon Musk is selling $5 billion in debt for his artificial intelligence company xAI Corp, with Morgan Stanley as the banker, for a double-digit interest rate, the report said citing sources. The move likely comes as the AI startup looks to fund its expansive infrastructure with a massive date centre in Memphis, Tennessee. The report added that a spokesperson for xAI declined to comment, while the Morgan Stanley representative did not immediately respond to queries.