NVIDIA TO FINANCE MUSK'S XAI CHIPS AS PART OF $20 BILLION DEAL

Summary from the TLDR newsletter

xAI has raised its ongoing funding round to $20 billion, more than initially planned. The financing includes equity and debt in a special purpose vehicle that will buy Nvidia processors and rent them to xAI for use in its Colossus 2 project. Nvidia is investing as much as $2 billion in the equity portion of the transaction. The funding effort may continue to grow.