xAI Raises $20 Billion in Funding, Driven by NVIDIA’s Major Investment

xAI, a company founded by Elon Musk, has exceeded its initial fundraising goals thanks to substantial investment from prominent players like NVIDIA. The funding round has been bolstered to reach a total of $20 billion, with NVIDIA contributing up to $2 billion in equity financing. The capital will be directed towards a special purpose vehicle (SPV) which will purchase NVIDIA processors for xAI’s Colossus 2 project.