Musk’s xAI close to $20B funding round, with Nvidia investing, Bloomberg says

xAI, the artificial intelligence startup backed by Tesla (TSLA) CEO Elon Musk, is raising more financing than previously planned, including an equity investment from Nvidia (NVDA), to bring its ongoing funding round to $20B, Bloomberg’s Carmen Arroyo and Ed Ludlow report, citing people familiar with the matter. The financing, which includes equity and debt, will be linked to the Nvidia GPUs that the AI startup intends to use in Colossus 2, the name of its biggest data center site, the authors note.