Official press releases from Nvidia or xAI, major financial news outlets

Nvidia in Talks to Invest in Elon Musk's AI Startup xAI, Valuation Could Reach $75 Billion

Nov 2, 2024, 09:24 PM

Nvidia is reportedly in talks with Elon Musk's artificial intelligence startup, xAI, to invest in the company. According to sources, xAI is seeking to raise several billion dollars and has been in discussions with various investors, including sovereign wealth funds and MGX. The Wall Street Journal and NY Post reported that the potential investment by Nvidia could significantly boost xAI's valuation, potentially reaching $75 billion. xAI, known for powering the Grok chatbot on Musk's X social network, represents a growing interest in AI technologies among major tech companies, including Tesla.