Wall Street banks are preparing to sell $3 billion of senior secured debt tied to Elon Musk's buyout of X (formerly Twitter), with a sweetener of a claim on X's stake in Musk's AI venture, xAI Corp.

Elon Musk’s comments added to the questions surrounding its future. By Theodore Schleifer and Mike Ives Treasury Secretary Scott Bessent gave Mr. Musk’s representatives at the so-called ...