Elon Musk’s xAI raising up to $6 billion to purchase 100,000 Nvidia chips for Memphis data center

Elon Musk’s artificial intelligence company xAI is raising up to $6 billion at a $50 billion valuation, according to CNBC’s David Faber. The funding, which should close early next week, is a combination of $5 billion expected from sovereign funds in the Middle East and $1 billion from other investors, sources said.

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