Elon Musk’s artificial intelligence startup, xAI, has raised $20 billion in its latest funding round, with AI hardware powerhouse Nvidia leading the investment.
Bloomberg reports that Elon Musk’s xAI has successfully raised $20 billion in its latest funding round. The financing, which includes both equity and debt, was led by Nvidia, the leading chipmaker in the AI sector. The funding round, initially reported to be half the amount, has grown in size as xAI seeks to accelerate its AI investments and development.
The funding will be split between $7.5 billion in equity and up to $12.5 billion in debt through a special purpose vehicle (SPV). The…
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