Musk’s xAI to raise up to $12 billion in debt for AI expansion: Report

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Elon Musk‘s artificial intelligence startup xAI is working with a financier to secure up to $12 billion more for its expansion plans, the Wall Street Journal reported on Tuesday, citing people familiar with the situation.

Valor Equity Partners, an investment firm whose founder, Antonio Gracias, has close ties to Musk, is in talks with lenders to raise the capital, according to the report.

The money would be used to buy a massive supply of advanced Nvidia chips that would be leased to xAI for a new huge data center meant to help train and power its AI…



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Musk’s xAI to raise up to $12 billion in debt for AI expansion: Report



Elon Musk‘s artificial intelligence startup xAI is working with a financier to secure up to $12 billion more for its expansion plans, the Wall Street Journal reported on Tuesday, citing people familiar with the situation.

Valor Equity Partners, an investment firm whose founder, Antonio Gracias, has close ties to Musk, is in talks with lenders to raise the capital, according to the report.

The money would be used to buy a massive supply of advanced Nvidia chips that would be leased to xAI for a new huge data center meant to help train and power its AI…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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