Elon Musk is looking for funding to develop Grok. Nvidia is stepping in.
Elon Musk's American startup xAI has launched another investment round aimed at raising $20 billion to continue its projects.
According to Bloomberg, the company was initially planned to receive USD 10 billion, but investor interest was so high that it was decided to take advantage of the opportunity and double the stake.
It's already known that Nvidia will be among the new shareholders, investing a total of $2 billion. Part of the money will go to a special-purpose vehicle that will purchase graphics processors for use in Elon Musk's largest data center, Colossus 2, in Memphis.
Nvidia, the world's largest chip manufacturer, is investing more and more boldly in artificial intelligence solutions, making it an increasingly important player in this sector of new technologies.
The second part will be allocated to the purchase of xAI's debt, which will enable it to have easier access to new loans necessary for development.
Of the USD 20 billion that will be raised from investors, approximately USD 7.5 billion will come from their acquisition of securities under a new share issue.
Two large American investment funds, Apollo Global Management and Diameter Capital Partners, have expressed their readiness here .
Debt financing will be provided by banks, as well as Apollo Global Management and Valor Capital. The fundraising round will last until the end of the year.
Journalist, graduate of political science at the Faculty of Law and Administration of the Jagiellonian University. Associated with the media for over 40 years. After graduating in 1982, he worked on the editorial staff of "Gazeta Krakowska" and "Kurier Polski." A member of the editorial team of "Przegląd Techniczny." He has published articles in "Student," "Przekrój," and "Życie Literackie." Since the economic and political transformation, he has been associated with Reuters as a correspondent in Krakow for over 20 years. For the next three years, he conducted practical classes with students at the Institute of Journalism, Media, and Social Communication of the Jagiellonian University. Since December 2021, he has joined the PTWP Group and works for the WNP.PL portal. His main professional interests include economics and politics at the global level and the participation of Polish business in this field, particularly companies listed on the Warsaw Stock Exchange. Winner of the "Ostra Pióra" award, granted for "spreading economic education" by the BCC, as well as the Golden Pear - a journalistic award of the Małopolska Branch of the Association of Journalists of the Republic of Poland.
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