ELON MUSK'S XAI RAISES $10 BILLION IN DEBT AND EQUITY AS IT STEPS UP CHALLENGE TO OPENAI

Summary from the TLDR newsletter

xAI has raised a combined $10 billion in debt and equity through secured notes, term loans, and a strategic equity investment. The funding will give the startup more firepower to build out infrastructure and develop its Grok AI chatbot. xAI has already installed 200,000 GPUs at its Colossus facility in Memphis, Tennessee. It plans to build a 1 million GPU facility outside of Memphis.