Elon Musk’s xAI venture raises fundraising target to $20 billion, with Nvidia contributing up to $2 billion for equity. The funds will be used to acquire Nvidia processors for xAI’s Colossus 2 data center in Memphis, powering its artificial intelligence initiatives. The expanded round includes both equity and debt structured through a special purpose vehicle.

Read more at Nasdaq.: Elon Musk’s XAI Expands Funding Round To $20 Bln With Major Backing From Nvidia : Report