Official announcements from xAI or Nvidia, and coverage by reputable financial news outlets

xAI Raises $6B for Nvidia Chips in Memphis

Nov 15, 2024, 02:45 PM

Elon Musk's xAI is raising up to $6 billion to purchase 100,000 Nvidia chips for its Memphis data center, according to CNBC. The funding, which includes $5 billion from Middle Eastern sovereign funds, will support the company's growth in artificial intelligence technology. xAI is now valued at $50 billion, making it the sixth most valuable startup globally.