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AI News from ET - Musk's xAI nears $20 billion capital raise tied to Nvidia chips, Bloomberg News reports

Vishwadeep Khatri
in AI News & Two Lenses

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Elon Musk's AI startup xAI is reportedly raising $20 billion, including a $2 billion equity investment from Nvidia. This financing, split between equity and debt, is intended to acquire Nvidia graphics processing units for xAI's data center. The funding round aims to support xAI's development as an alternative to ChatGPT.

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