PANews reported on November 15 that according to CNBC, Musk's xAI is raising up to $6 billion in capital, and the new post-financing valuation is expected to exceed $50 billion. xAI is mainly financed by Middle Eastern sovereign funds. xAI will use the newly raised funds to purchase 100,000 H100 chips to enhance the Memphis cloud cluster.
CNBC: xAI is raising up to $6 billion in capital, with a valuation expected to exceed $50 billion
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