Elon Musk’s xAI eyes $20B capital raise tied to Nvidia GPU purchases

Elon Musk’s artificial intelligence company, xAI, is in advanced talks to raise as much as $20 billion through a mix of debt and equity to secure Nvidia’s latest GPUs. About $2 billion of the investment could come directly from Nvidia. The capital will help xAI scale its training clusters and expand its data center footprint, positioning it to compete with OpenAI and Anthropic in the generative AI infrastructure race.