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xAI Said to Raise US$20B for Nvidia Chip Deal
Elon Musk's artificial intelligence company xAI plans to raise US$20 billion through a Special Purpose Vehicle (SPV), The Information reported, citing sources, on Thursday. This vehicle will acquire semiconductor chips from Nvidia (NVDA.US) and then lease them to xAI.

Musk plans to integrate one million Nvidia AI chips into his new mega data center "Colossus 2" located in Memphis, prompting him to seek funding arrangements so that the company does not own most of the Nvidia chips directly at the beginning stage.
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