Elon Musk’s xAI To Raise Nearly USD 20 Billion, Nvidia To Invest in Chip-Backed Funding Round
Elon Musk’s xAI is reportedly seeking up to USD 20 billion in new funding, expanding its financing round with investors including Nvidia, which may take a USD 2 billion stake. The funding, structured as a special purpose vehicle, which will buy Nvidia processors and lease them to xAI for its Colossus 2 AI project.
Elon Musk's xAI reportedly plans to raise up to USD 20 billion in new funding. As per a report of Bloomberg, the artificial intelligence (AI) startup xAI is increasing its financing round beyond earlier targets, reaching out to investors like Nvidia Corp. to raise the round to USD 20 billion. Nvidia is expected to take an equity stake of up to USD 2 billion in xAI. The funding consists of equity and debt arranged through a special purpose vehicle, which will purchase Nvidia processors and lease them to xAI for its Colossus 2 project. Jony Ive Reveals His Team Having 20 Design Ideas for Upcoming OpenAI Devices, Criticises Products He Designed in Past.
Nvidia To Invest in Elon Musk’s xAl as Part of USD 20 Billion Funding
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