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Elon Musk's xAI Nears $10 Billion Deal to Rent Oracle's Cloud Servers

May 14, 2024, 04:04 PM

Elon Musk's startup, xAI, is nearing a multiyear deal to spend $10 billion to rent Oracle's cloud servers, according to The Information. This significant investment aims to bolster xAI's capabilities as it competes with other AI companies like OpenAI. Oracle shares have responded positively to the news, reflecting investor confidence in the potential partnership.