Elon Musk’s artificial intelligence startup xAI is targeting a $20 billion capital raise linked to Nvidia hardware, Bloomberg News has reported.
XAI’s latest funding round will include up to $2 billion in equity investment from Nvidia, with the remainder comprising about $7.5 billion in equity and as much as $12.5 billion in debt, according to Bloomberg News on Tuesday, citing unnamed sources.
The deal is structured through a special purpose vehicle that will be used to purchase Nvidia’s graphics processing units (GPUs), which xAI intends to deploy in its Colossus 2 data centre.
Nvidia declined to comment on the report. XAI did not immediately respond to Reuters’ request for comment.
The capital raise marks a significant expansion from earlier speculation that xAI was seeking $10 billion in funding.
In September, Musk denied a CNBC report suggesting the company had already reached that figure, though he confirmed future capital raising was likely.
Nvidia, a key supplier of AI hardware, has seen soaring demand for its chips amid a global race for AI infrastructure. Its market capitalisation surpassed $1 trillion in 2023, driven largely by interest in generative AI systems.
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The Trump administration has announced its support for repealing the Caesar Act sanctions on Syria and called on U.S. lawmakers to include the move in the National Defense Authorization Act (NDAA) currently being debated in Congress.
U.S. President Donald Trump said on Friday he would lift all fentanyl-related tariffs on Chinese goods if Beijing takes concrete steps to restrict exports of the drug and the precursor chemicals used to produce it.
At least two civilians were killed and 17 others injured after Russian forces shelled several settlements in Ukraine’s southern Kherson region, the regional prosecutor’s office said on Friday.
Spain’s Foreign Minister José Manuel Albares has publicly recognised the “pain and injustice” inflicted by his country on Mexico’s indigenous peoples during the colonial era, in remarks seen as a rare gesture of historical reconciliation between the two nations.
Reliable sources have confirmed to AnewZ that the United States has asked Azerbaijan to join a Stabilisation Force in Gaza, as part of a proposed international mission to secure the territory.
Reports from CNN say the Pentagon has approved the provision of long range Tomahawk missiles to Ukraine after assessing its impact on U.S. stockpiles, while leaving the ultimate decision to President Trump.
Tanzanian police fired tear gas and live rounds on Thursday to disperse protesters in Dar es Salaam and other cities, a day after a disputed election marked by violence and claims of political repression, witnesses said.
Police in Dar es Salaam fired gunshots and tear gas on Thursday to break up renewed protests following a disputed general election, a Reuters witness said.
Russia launched a barrage of drones and missiles at Ukraine's energy infrastructure and other targets, forcing nationwide power restrictions and killing seven people, including a seven-year-old girl, Ukrainian officials said on Thursday.
Chinese electric carmaker BYD is making major strides in Europe, with sales surging nearly fivefold in September from a year earlier to just under 25,000 new registrations.
U.S. stocks were mixed late Wednesday as traders digested comments from Federal Reserve Chair Jerome Powell, who signaled that another interest rate cut in December is far from guaranteed. The Dow Jones Industrial Average and S&P 500 edged slightly lower, while the Nasdaq climbed on continued gains
U.S. chipmaker Nvidia has made history by becoming the first company in the world to reach a market value of 5 trillion dollars, driven by soaring demand for artificial intelligence technologies.
Nokia announced on Tuesday that chipmaker Nvidia will acquire a $1 billion stake in the company.
Türkiye’s main stock index, BIST 100, closed on Friday at 10,941.79 points, recording a 3.14% increase.
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