Elon Musk’s xAI secures $20 billion funding round with Nvidia’s $2 billion investment — What we know

Elon Musk-owned artificial intelligence (AI) company xAI has secured its $20 billion funding round, with around $2 billion from chipmaker Nvidia Corp, Bloomberg reported citing sources.

The deal comprising equity and debt, will be tied to the use of Nvidia’s graphics processing units in xAi’s data centre Colossus 2, located in Memphis, the sources added.