Nvidia to invest in Elon Musk’s xAI as part of $20 billion fundraising: Report
Elon Musk-backed artificial intelligence (AI) company xAI is working on a major fundraising push that could bring in about $20 million– including an equity investment from Nvidia, reports Bloomberg citing people familiar with the matter. Musk launched xAI in 2023 with the goal of building more transparent AI systems that are aligned with human interests. xAI has announced its own AI chatbot Grok which is currently integrated into X.
As per the report, Nvidia’s financing may include both equity and debt. It will likely be tied to the Nvidia graphics processing units that xAI plans to use in Colossus 2 – largest data centre site located in Memphis.
