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00:02Elon Musk's AI startup XAI is expanding its latest fundraising round to $20 billion after
00:07adding new backing from NVIDIA, according to Reuters.
00:10NVIDIA is investing up to $2 billion in equity as part of a financing package that includes
00:14both equity and debt tied to NVIDIA's GPUs, XAI will deploy in its Colossus 2 data center.
00:21The round consists of roughly $7.5 billion in equity and as much as $12.5 billion in
00:25debt, structured through a special purpose vehicle created to purchase NVIDIA processors.
00:30Must watch XAI in July 2023 as an alternative to OpenAI's ChatGPT.
00:35For all things money, visit Benzinga.com.
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