PYMNTS.com November 3, 2024
Nvidia is in discussions to invest in Elon Musk’s artificial intelligence (AI) startup, according to published reports.
Musk’s AI firm xAI is hoping to raise several billion dollars, valuing the company at around $40 billion, the New York Post reported Friday (Nov. 1).
A separate report by The Information says Musk had been in discussions with tech companies and venture firms such as Sequoia Capital, Andreessen Horowitz and Vy Capital.
Musk is expecting in January to hold a major funding round that could value xAI at as high as $75 billion, two sources told the Post.
And an analyst for Nvidia, speaking with the newspaper on the condition of anonymity, said that xAI’s rivals would still buy chips from Nvidia...
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