Musk’s xAI Closed $20 Billion Funding With Nvidia Backing

Elon Musk’s artificial intelligence startup xAI said it has completed a $20 billion funding round from investors including Nvidia Corp., Valor Equity Partners and the Qatar Investment Authority. The investment has been in the works for months, and Nvidia had planned to put in as much as $2 billion, Bloomberg previously reported. XAI, which did not specify individual investment amounts or break out debt or equity portions of the round, said investors also include Stepstone Group, Fidelity Management & Rese ...