ELON Musk’s artificial intelligence firm xAI is reportedly raising more financing than initially planned.
The ongoing funding round is set to reach 20 billion dollars according to Bloomberg News.
An equity investment from chipmaker Nvidia is part of the expanded financing.
The financing includes both equity and debt components.
It will be tied to Nvidia graphics processing units that xAI plans to use.
These chips are intended for deployment in xAI’s Colossus 2 supercomputer.
Bloomberg cited people with knowledge of the matter in its Tuesday report.
Reuters could not immediately verify the accuracy of this report. – Reuters