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.
U.S. shares ended Tuesday in negative territory as investors, cut off from official economic data due to the ongoing government shutdown, looked to al...
Elon Musk’s artificial intelligence startup xAI is targeting a $20 billion capital raise linked to Nvidia hardware, Bloomberg News has reported....
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U.S. shares ended Tuesday in negative territory as investors, cut off from official economic data due to the ongoing government shutdown, looked to alternative indicators and comments from Federal Reserve officials for guidance on economic weakness and monetary policy.
The newly elected mayor of Herdecke in northwestern Germany, Social Democrat Iris Stalzer, was seriously injured in a knife attack near her home by an unknown assailant or assailants.
Fifteen Turkish activists, who were detained by Israel aboard the Gaza-bound Global Sumud humanitarian aid flotilla, arrived at Istanbul Airport on Tuesday.
UFC fighter Conor McGregor has been issued an 18-month suspension for breaching the UFC’s anti-doping regulations after missing three scheduled drug tests in 2024, according to a statement released by Combat Sports Anti-Doping (CSAD) on Tuesday.
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A powerful 7.4-magnitude earthquake struck off Russia’s Kamchatka Peninsula on 13 September with no tsunami threat, coming just weeks after the region endured a devastating 8.8-magnitude quake — the strongest since 1952.
Authorities in California have identified the dismembered body discovered in a Tesla registered to singer D4vd as 15-year-old Celeste Rivas Hernandez, who had been missing from Lake Elsinore since April 2024.
U.S. shares ended Tuesday in negative territory as investors, cut off from official economic data due to the ongoing government shutdown, looked to alternative indicators and comments from Federal Reserve officials for guidance on economic weakness and monetary policy.
Türkiye’s benchmark stock index, the BIST 100, closed Tuesday at 10,814.11 points, up 0.74% from the previous session.
Euro zone finance ministers are set to meet on Thursday to explore ways to boost the development of euro-denominated stablecoins, amid concerns that the fast-growing market could remain dominated by the United States, a senior euro zone official said.
The currency swap agreement signed between the central banks of Türkiye and the United Arab Emirates (UAE) is set to strengthen Türkiye’s digital banking sector and attract fresh investment from the Gulf.
Shein is opening its first permanent physical stores in France, starting in Paris and expanding to five more cities. The fast-fashion giant aims to test brick-and-mortar retail in one of the world’s most influential fashion markets.
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