Elon Musk’s xAI is set to spend at least $18B to acquire roughly 300,000 more Nvidia (NVDA) chips for its Colossus 2 project in Memphis, The Wall Street Journal’s Alexander Saeedy reports. In July, the Tesla (TSLA) CEO said in July that Colossus 2 will have a total of 550,000 chips and has separately signaled it could eventually have a million processing units.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NVDA:
- Alibaba Stock (BABA): What’s Driving Wall Street’s Optimism Despite Rising Competition
- Goldman Sachs Bumps Nvidia Stock (NVDA) Price Target, But With a Warning
- How ‘The Magnificent 7’ Upgraded Storytelling to Influence Stock Sentiment
- ‘Run for the Hills,’ Says Investor About Nvidia Stock
- Mixed options sentiment in NVIDIA with shares down 0.9%