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NVIDIA May Invest in xAI—Elon Musk’s AI Company Could Hit $40 Billion

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NVIDIA is exploring a potential investment in xAI, the artificial intelligence company founded by Tesla CEO Elon Musk.

According to the New York Post, Musk’s investment in xAI is ongoing. However, NVIDIA has not confirmed these discussions. An anonymous NVIDIA analyst revealed that even if NVIDIA invests in xAI, it will continue supplying semiconductors to competitors, stating, “The deal could not proceed otherwise.”

Musk launched xAI in July 2023 and debuted with an AI chatbot called Grok. The chatbot operates on X (formerly Twitter), Musk’s social media platform. In August of this year, xAI expanded Grok’s capabilities to include image generation.

Currently, xAI seeks to raise billions in funding and is in discussions with potential investors. Reportedly, xAI is valued at $40 billion. This fundraising effort comes just five months after xAI’s last successful round, where it secured $6 billion. That round attracted high-profile investors, including Silicon Valley venture capital heavyweights Andreessen Horowitz and Sequoia Capital, Fidelity Management & Research, and Saudi Prince Alwaleed bin Talal.

xAI claims to be building the world’s largest supercomputer in Memphis, Tennessee and intends to train a new version of Grok. The company leverages data from X for this training. Musk recently announced plans to double the number of graphics processing units (GPUs) at the Memphis facility from 100,000 to 200,000. xAI relies on NVIDIA’s cutting-edge chips, which are at the forefront of AI technology.

NVIDIA CEO Jensen Huang recently praised the xAI Memphis data center, calling it the fastest supercomputer on Earth.

theguru
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