Elon Musk's xAI Secures $20 Billion Boost with Nvidia Investment

Elon Musk's AI venture, xAI, is amassing more funding than initially intended, reaching $20 billion with Nvidia's involvement. The financing includes both equity and debt, tied to Nvidia GPUs for use in xAI's Colossus 2 project, as per a Bloomberg report.

In a strategic financial move, Elon Musk's artificial intelligence venture, xAI, has significantly increased its funding aspirations, now reaching $20 billion, according to Bloomberg News. The increased funding includes a mix of equity and debt, bolstered by investments from Nvidia.

This capital infusion is directly linked to xAI's utilization of Nvidia's state-of-the-art graphics processing units (GPUs) in their ambitious Colossus 2 project. The collaboration between xAI and Nvidia signifies a substantial alignment of technological resources and financial backing.

However, this information remains to be independently verified by other sources, as Reuters has yet to corroborate the details of the Bloomberg report.

(With inputs from agencies.)