Elon Musk’s artificial intelligence startup, xAI, has raised $20 billion in a major funding round led by chipmaking giant Nvidia, solidifying the company’s position as one of the fastest-growing players in the AI sector. The deal combines $7.5 billion in equity and up to $12.5 billion in debt through a special purpose vehicle (SPV) that will allow xAI to acquire and rent Nvidia processors for five years.
Elon Musk’s artificial intelligence company, xAI, has lost another senior leader as Chief Financial Officer Mike Liberatore exited after only a few months on the job. Liberatore, a former Airbnb executive, joined xAI in April but left in July, according to The Wall Street Journal. His short tenure included helping lead fundraising efforts and advancing plans for a major data center expansion in the Memphis area.
Elon Musk has announced that Tesla shareholders will vote on whether to fund his AI startup xAI, even as the company faces backlash over antisemitic content generated by its chatbot, Grok. The move has drawn comparisons to previous controversial business decisions made by Musk, raising questions about corporate governance and priorities.
