Nvidia to invest in Musk’s xAI as funding round hits USD20 billion: Bloomberg
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The news: Elon Musk's AI startup xAI has secured an equity investment from chipmaker Nvidia, Bloomberg reported, citing people with knowledge of the matter.
The numbers: The investment will help bring xAI's ongoing funding round to USD20 billion ($30.4 billion). That is double the figure reported by Bloomberg last month.
The context: Nvidia's financing, which includes equity and debt, will be tied to Nvidia's graphics processing units that xAI plans to use in its largest data centre site, Colossus 2, located in Memphis.
Nvidia is expected to invest USD2 billion in the equity portion of the deal.
A representative for Nvidia declined to comment. A spokesperson for xAI didn't respond to a request for comment.
The source: Bloomberg
