www.cnbc.com Open in urlscan Pro
23.215.19.87  Public Scan

Form analysis
0 forms found in the DOM

Text Content

Skip Navigation
BREAKING
Stocks making the biggest moves midday: Walmart, Lowe’s, Intuit, Kraft Heinz and
more

Elon Musk’s xAI raising up to $6 billion to purchase 100,000 Nvidia chips for
Memphis data center
ShareShare Article via FacebookShare Article via TwitterShare Article via
LinkedInShare Article via Email
Markets
 * Pre-Markets
 * U.S. Markets
 * Europe Markets
 * China Markets
 * Asia Markets
 * World Markets
 * Currencies
 * Cryptocurrency
 * Futures & Commodities
 * Bonds
 * Funds & ETFs

Business
 * Economy
 * Finance
 * Health & Science
 * Media
 * Real Estate
 * Energy
 * Climate
 * Transportation
 * Industrials
 * Retail
 * Wealth
 * Sports
 * Life
 * Small Business

Investing
 * Personal Finance
 * Fintech
 * Financial Advisors
 * Options Action
 * ETF Street
 * Buffett Archive
 * Earnings
 * Trader Talk

Tech
 * Cybersecurity
 * Enterprise
 * Internet
 * Media
 * Mobile
 * Social Media
 * CNBC Disruptor 50
 * Tech Guide

Politics
 * White House
 * Policy
 * Defense
 * Congress
 * Equity and Opportunity
 * Europe Politics
 * China Politics
 * Asia Politics
 * World Politics

Video
 * Latest Video
 * Full Episodes
 * Livestream
 * Top Video
 * Live Audio
 * Europe TV
 * Asia TV
 * CNBC Podcasts
 * CEO Interviews
 * Digital Originals

Watchlist
Investing Club
 * Trust Portfolio
 * Analysis
 * Trade Alerts
 * Meeting Videos
 * Homestretch
 * Jim’s Columns
 * Education
 * Subscribe
 * Sign In

PRO
 * Pro News
 * Livestream
 * Full Episodes
 * Stock Screener
 * Market Forecast
 * Options Investing
 * Chart Investing
 * Subscribe
 * Sign In

Livestream


Menu

 * Make It
 * select
   * ALL SELECT
   
   * Credit Cards
     
     
   
   * Loans
     
     
   
   * Banking
     
     
   
   * Mortgages
     
     
   
   * Insurance
     
     
   
   * Credit Monitoring
     
     
   
   * Personal Finance
     
     
   
   * Small Business
     
     
   
   * Taxes
     
     
   
   * Help for Low Credit Scores
     
     
   
   * Investing
     
     
   
   * SELECT
   
   * All Credit Cards
   
   * Find the Credit Card for You
   
   * Best Credit Cards
   
   * Best Rewards Credit Cards
   
   * Best Travel Credit Cards
   
   * Best 0% APR Credit Cards
   
   * Best Balance Transfer Credit Cards
   
   * Best Cash Back Credit Cards
   
   * Best Credit Card Welcome Bonuses
   
   * Best Credit Cards to Build Credit
   
   * SELECT
   
   * All Loans
   
   * Find the Best Personal Loan for You
   
   * Best Personal Loans
   
   * Best Debt Consolidation Loans
   
   * Best Loans to Refinance Credit Card Debt
   
   * Best Loans with Fast Funding
   
   * Best Small Personal Loans
   
   * Best Large Personal Loans
   
   * Best Personal Loans to Apply Online
   
   * Best Student Loan Refinance
   
   * SELECT
   
   * All Banking
   
   * Find the Savings Account for You
   
   * Best High Yield Savings Accounts
   
   * Best Big Bank Savings Accounts
   
   * Best Big Bank Checking Accounts
   
   * Best No Fee Checking Accounts
   
   * No Overdraft Fee Checking Accounts
   
   * Best Checking Account Bonuses
   
   * Best Money Market Accounts
   
   * Best CDs
   
   * Best Credit Unions
   
   * SELECT
   
   * All Mortgages
   
   * Best Mortgages
   
   * Best Mortgages for Small Down Payment
   
   * Best Mortgages for No Down Payment
   
   * Best Mortgages with No Origination Fee
   
   * Best Mortgages for Average Credit Score
   
   * Adjustable Rate Mortgages
   
   * Affording a Mortgage
   
   * SELECT
   
   * All Insurance
   
   * Best Life Insurance
   
   * Best Homeowners Insurance
   
   * Best Renters Insurance
   
   * Best Car Insurance
   
   * Travel Insurance
   
   * SELECT
   
   * All Credit Monitoring
   
   * Best Credit Monitoring Services
   
   * Best Identity Theft Protection
   
   * How to Boost Your Credit Score
   
   * Credit Repair Services
   
   * SELECT
   
   * All Personal Finance
   
   * Best Budgeting Apps
   
   * Best Expense Tracker Apps
   
   * Best Money Transfer Apps
   
   * Best Resale Apps and Sites
   
   * Buy Now Pay Later (BNPL) Apps
   
   * Best Debt Relief
   
   * SELECT
   
   * All Small Business
   
   * Best Small Business Savings Accounts
   
   * Best Small Business Checking Accounts
   
   * Best Credit Cards for Small Business
   
   * Best Small Business Loans
   
   * Best Tax Software for Small Business
   
   * SELECT
   
   * All Taxes
   
   * Filing For Free
   
   * Best Tax Software
   
   * Best Tax Software for Small Businesses
   
   * Tax Refunds
   
   * Tax Brackets
   
   * Tax Tips
   
   * Tax By State
   
   * Tax Payment Plans
   
   * SELECT
   
   * All Help for Low Credit Scores
   
   * Best Credit Cards for Bad Credit
   
   * Best Personal Loans for Bad Credit
   
   * Best Debt Consolidation Loans for Bad Credit
   
   * Personal Loans if You Don’t Have Credit
   
   * Best Credit Cards for Building Credit
   
   * Personal Loans for 580 Credit Score or Lower
   
   * Personal Loans for 670 Credit Score or Lower
   
   * Best Mortgages for Bad Credit
   
   * Best Hardship Loans
   
   * How to Boost Your Credit Score
   
   * SELECT
   
   * All Investing
   
   * Best IRA Accounts
   
   * Best Roth IRA Accounts
   
   * Best Investing Apps
   
   * Best Free Stock Trading Platforms
   
   * Best Robo-Advisors
   
   * Index Funds
   
   * Mutual Funds
   
   * ETFs
   
   * Bonds

 * USA
 * INTL

 * Livestream

Search quotes, news & videos
 * Livestream

Watchlist

SIGN IN
Create free account
Elon Musk’s xAI raising up to $6 billion to purchase 100,000 Nvidia chips for
Memphis data center
ShareShare Article via FacebookShare Article via TwitterShare Article via
LinkedInShare Article via Email
Markets
Business
Investing
Tech
Politics
Video
Watchlist
Investing Club
PRO
Livestream


Menu


 * AI Age
 * AI Insights

AI Effect


ELON MUSK’S XAI RAISING UP TO $6 BILLION TO PURCHASE 100,000 NVIDIA CHIPS FOR
MEMPHIS DATA CENTER

Published Fri, Nov 15 20249:39 AM ESTUpdated Fri, Nov 15 202411:52 AM EST
Hayden Field@haydenfield
WATCH LIVE
ShareShare Article via FacebookShare Article via TwitterShare Article via
LinkedInShare Article via Email
Key Points
 * Elon Musk’s artificial intelligence company xAI is raising up to $6 billion
   at a $50 billion valuation, according to CNBC’s David Faber.
 * The funding, which should close early next week, is a combination of $5
   billion expected from sovereign funds in the Middle East and $1 billion from
   other investors, sources said.
 * The money will likely be used to acquire 100,000 Nvidia chips.

In this article

 * TSLA+7.61 (+2.25%)

Follow your favorite stocksCREATE FREE ACCOUNT
Elon Musk listens as US President-elect Donald Trump speaks during a House
Republicans Conference meeting at the Hyatt Regency on Capitol Hill on November
13, 2024 in Washington, DC. 
Allison Robbert | Getty Images

Elon Musk’s artificial intelligence company xAI is raising up to $6 billion at a
$50 billion valuation, according to CNBC’s David Faber.

Sources told Faber that the funding, which should close early next week, is a
combination of $5 billion expected from sovereign funds in the Middle East and
$1 billion from other investors, some of whom may want to re-up their
investments.



The money will be used to acquire 100,000 Nvidia chips, per sources familiar
with the situation. Tesla’s Full Self Driving is expected to rely on the new
Memphis supercomputer.

Musk’s AI startup, which he announced in July 2023, seeks to “understand the
true nature of the universe,” according to its website. Last November, xAI
released a chatbot called Grok, which the company said was modeled after “The
Hitchhiker’s Guide to the Galaxy.” The chatbot debuted with two months of
training and had real-time knowledge of the internet, the company claimed at the
time.

With Grok, xAI aims to directly compete with companies including ChatGPT creator
OpenAI, which Musk helped start before a conflict with co-founder Sam Altman led
him to depart the project in 2018. It will also be vying with Google’s Bard
technology and Anthropic’s Claude chatbot.

Now that Donald Trump is president-elect, Musk is beginning to actively work
with the new administration on its approach to AI and tech more broadly, as part
of Trump’s inner circle in recent weeks.

Trump plans to repeal President Joe Biden’s executive order on AI, according to
his campaign platform, stating that it “hinders AI Innovation, and imposes
Radical Leftwing ideas on the development of this technology” and that “in its
place, Republicans support AI Development rooted in Free Speech and Human
Flourishing.”


DON’T MISS THESE INSIGHTS FROM CNBC PRO

 * Warren Buffett’s Berkshire Hathaway takes a stake in Domino’s Pizza
 * Wall Street is gearing up for an M&A boom under Trump. These companies could
   be targets
 * Inflation report shows market could have a ‘recipe for disaster’ heading into
   new year, says economist
 * Morningstar names cheap stocks in a sector that ‘deserves a place in
   everybody’s portfolio’
 * These 2 active ETFs have outperformed the S&P 500 this year, last year and
   over 5 years
   


Related

 1. Super Micro plunges 17% after company says no timetable for annual results,
    issues weak guidance
    
 2. Cerebras IPO has ‘too much hair’ as AI chipmaker tries to sell Wall Street
    on Nvidia alternative
    
 3. Oracle announces new AI-powered electronic health record
    
 4. AI startup CoreWeave closes $650 million secondary share sale, with Cisco
    joining as investor
    


MORE IN AI EFFECT

AI startup CoreWeave closes $650 million secondary share sale, with Cisco
joining as investor
Jordan Novet
watch now
watch now
VIDEO04:46
Brightwave CEO on AI in financial industry
OpenAI co-founder Greg Brockman returns after three months of leave
Hayden Field
Read More


 * 
 * 
 * 
 * 
 * 
 * 
 * 


 * Subscribe to CNBC PRO
 * Subscribe to Investing Club
 * Licensing & Reprints
 * CNBC Councils
 * Supply Chain Values
 * CNBC on Peacock
 * Join the CNBC Panel
 * Digital Products
 * News Releases
 * Closed Captioning
 * Corrections
 * About CNBC
 * Internships
 * Site Map
 * Ad Choices
 * Careers
 * Help
 * Contact

 * NEWS TIPS
   
   Got a confidential news tip? We want to hear from you.
   
   Get In Touch

 * CNBC NEWSLETTERS
   
   Sign up for free newsletters and get more CNBC delivered to your inbox
   
   Sign Up Now
   
   Get this delivered to your inbox, and more info about our products and
   services.

 * ADVERTISE WITH US
   
   Please Contact Us

 * Privacy Policy
 * Cookie Preferences
 * CA Notice
 * Terms of Service

© 2024 CNBC LLC. All Rights Reserved. A Division of NBCUniversal

Data is a real-time snapshot *Data is delayed at least 15 minutes. Global
Business and Financial News, Stock Quotes, and Market Data and Analysis.

Market Data Terms of Use and Disclaimers

Data also provided by






Due to the breadth of the advertising ecosystem, a variety of vendors may be
used for different campaigns. While NBCUniversal lists all of our potential
partners, a smaller selection may be used on any given website. We and our 804
partners collect information from your device, such as device identifiers, IP
address, and your browser type to personalize and deliver content, marketing and
advertising—across devices and platforms; for analytics and measurement, so we
can improve our services and develop new ones; to match and combine offline data
with your online activity; and for social features. We share this information
with selected partners with your consent. By clicking “I Accept”, you consent to
our use of these Cookies. Click Manage Choices to learn more about these. We
will also use other Cookies that are essential for our site and Services,
including for security and fraud prevention. To learn more about some of our
partners select IAB and Google Vendors. You can adjust your preferences at any
time via the “Cookie Preferences” link in the footer of relevant NBCUniversal
websites or in-app settings. Visit our Cookie Notice and Privacy Policy to learn
more.


WE AND OUR PARTNERS PROCESS DATA TO PROVIDE:

Store and/or access information on a device. Personalised advertising and
content, advertising and content measurement, audience research and services
development. IAB and Google Vendors

I Accept Reject All Manage Choices



PRIVACY SETTINGS




 * YOUR PRIVACY


 * STRICTLY NECESSARY COOKIES


 * SAVE AND COMMUNICATE PRIVACY CHOICES 317 PARTNERS CAN USE THIS PURPOSE


 * ENSURE SECURITY, PREVENT AND DETECT FRAUD, AND FIX ERRORS 499 PARTNERS CAN
   USE THIS PURPOSE


 * DELIVER AND PRESENT ADVERTISING AND CONTENT 499 PARTNERS CAN USE THIS PURPOSE


 * STORE AND/OR ACCESS INFORMATION ON A DEVICE 658 PARTNERS CAN USE THIS PURPOSE


 * PERSONALISED ADVERTISING AND CONTENT, ADVERTISING AND CONTENT MEASUREMENT,
   AUDIENCE RESEARCH AND SERVICES DEVELOPMENT 771 PARTNERS CAN USE THIS PURPOSE

YOUR PRIVACY

We and our partners collect information from your device, such as device
identifiers, IP address, and your browser type to personalize and deliver
content, marketing and advertising—across devices and platforms; for analytics
and measurement, so we can improve our services and develop new ones; to match
and combine offline data with your online activity; and for social features. We
share this information with selected partners with your consent. By clicking
“Allow All”, you consent to our use of these Cookies. Click on the Cookie
categories or the “View Illustrations” below to learn more about these. We will
also use other Cookies that are essential for our site and Services, including
for security and fraud prevention. To learn more about some of our partners, see
the IAB and Google Vendors under each purpose below. Visit our Cookie Notice and
Privacy Policy to learn more.

IAB and Google Vendors‎

STRICTLY NECESSARY COOKIES

Always Active

These Cookies are required for Service functionality, including security and
fraud prevention, and to enable any purchasing capabilities. You can set your
browser to block these Cookies, but some parts of the site may not function
properly.

Cookies Used‎

SAVE AND COMMUNICATE PRIVACY CHOICES 317 PARTNERS CAN USE THIS PURPOSE

Always Active

The choices you make regarding the purposes and entities listed in this notice
are saved and made available to those entities in the form of digital signals
(such as a string of characters). This is necessary in order to enable both this
service and those entities to respect such choices.

IAB and Google Vendors‎ | View Illustrations 

ENSURE SECURITY, PREVENT AND DETECT FRAUD, AND FIX ERRORS 499 PARTNERS CAN USE
THIS PURPOSE

Always Active

Your data can be used to monitor for and prevent unusual and possibly fraudulent
activity (for example, regarding advertising, ad clicks by bots), and ensure
systems and processes work properly and securely. It can also be used to correct
any problems you, the publisher or the advertiser may encounter in the delivery
of content and ads and in your interaction with them.

IAB and Google Vendors‎ | View Illustrations 

DELIVER AND PRESENT ADVERTISING AND CONTENT 499 PARTNERS CAN USE THIS PURPOSE

Always Active

Certain information (like an IP address or device capabilities) is used to
ensure the technical compatibility of the content or advertising, and to
facilitate the transmission of the content or ad to your device.

IAB and Google Vendors‎ | View Illustrations 

STORE AND/OR ACCESS INFORMATION ON A DEVICE 658 PARTNERS CAN USE THIS PURPOSE

Store and/or access information on a device


Cookies, device or similar online identifiers (e.g. login-based identifiers,
randomly assigned identifiers, network based identifiers) together with other
information (e.g. browser type and information, language, screen size, supported
technologies etc.) can be stored or read on your device to recognise it each
time it connects to an app or to a website, for one or several of the purposes
presented here.

IAB and Google Vendors‎ | View Illustrations 
Cookies Used‎

PERSONALISED ADVERTISING AND CONTENT, ADVERTISING AND CONTENT MEASUREMENT,
AUDIENCE RESEARCH AND SERVICES DEVELOPMENT 771 PARTNERS CAN USE THIS PURPOSE

Personalised advertising and content, advertising and content measurement,
audience research and services development


 * USE LIMITED DATA TO SELECT ADVERTISING 601 PARTNERS CAN USE THIS PURPOSE
   
   Switch Label
   
   Advertising presented to you on this service can be based on limited data,
   such as the website or app you are using, your non-precise location, your
   device type or which content you are (or have been) interacting with (for
   example, to limit the number of times an ad is presented to you).
   
   View Illustrations 

 * CREATE PROFILES FOR PERSONALISED ADVERTISING 484 PARTNERS CAN USE THIS
   PURPOSE
   
   Switch Label
   
   Information about your activity on this service (such as forms you submit,
   content you look at) can be stored and combined with other information about
   you (for example, information from your previous activity on this service and
   other websites or apps) or similar users. This is then used to build or
   improve a profile about you (that might include possible interests and
   personal aspects). Your profile can be used (also later) to present
   advertising that appears more relevant based on your possible interests by
   this and other entities.
   
   View Illustrations 

 * USE PROFILES TO SELECT PERSONALISED ADVERTISING 477 PARTNERS CAN USE THIS
   PURPOSE
   
   Switch Label
   
   Advertising presented to you on this service can be based on your advertising
   profiles, which can reflect your activity on this service or other websites
   or apps (like the forms you submit, content you look at), possible interests
   and personal aspects.
   
   View Illustrations 

 * CREATE PROFILES TO PERSONALISE CONTENT 212 PARTNERS CAN USE THIS PURPOSE
   
   Switch Label
   
   Information about your activity on this service (for instance, forms you
   submit, non-advertising content you look at) can be stored and combined with
   other information about you (such as your previous activity on this service
   or other websites or apps) or similar users. This is then used to build or
   improve a profile about you (which might for example include possible
   interests and personal aspects). Your profile can be used (also later) to
   present content that appears more relevant based on your possible interests,
   such as by adapting the order in which content is shown to you, so that it is
   even easier for you to find content that matches your interests.
   
   View Illustrations 

 * USE PROFILES TO SELECT PERSONALISED CONTENT 186 PARTNERS CAN USE THIS PURPOSE
   
   Switch Label
   
   Content presented to you on this service can be based on your content
   personalisation profiles, which can reflect your activity on this or other
   services (for instance, the forms you submit, content you look at), possible
   interests and personal aspects. This can for example be used to adapt the
   order in which content is shown to you, so that it is even easier for you to
   find (non-advertising) content that matches your interests.
   
   View Illustrations 

 * MEASURE ADVERTISING PERFORMANCE 693 PARTNERS CAN USE THIS PURPOSE
   
   Switch Label
   
   Information regarding which advertising is presented to you and how you
   interact with it can be used to determine how well an advert has worked for
   you or other users and whether the goals of the advertising were reached. For
   instance, whether you saw an ad, whether you clicked on it, whether it led
   you to buy a product or visit a website, etc. This is very helpful to
   understand the relevance of advertising campaigns.
   
   View Illustrations 

 * MEASURE CONTENT PERFORMANCE 343 PARTNERS CAN USE THIS PURPOSE
   
   Switch Label
   
   Information regarding which content is presented to you and how you interact
   with it can be used to determine whether the (non-advertising) content e.g.
   reached its intended audience and matched your interests. For instance,
   whether you read an article, watch a video, listen to a podcast or look at a
   product description, how long you spent on this service and the web pages you
   visit etc. This is very helpful to understand the relevance of
   (non-advertising) content that is shown to you.
   
   View Illustrations 

 * UNDERSTAND AUDIENCES THROUGH STATISTICS OR COMBINATIONS OF DATA FROM
   DIFFERENT SOURCES 435 PARTNERS CAN USE THIS PURPOSE
   
   Switch Label
   
   Reports can be generated based on the combination of data sets (like user
   profiles, statistics, market research, analytics data) regarding your
   interactions and those of other users with advertising or (non-advertising)
   content to identify common characteristics (for instance, to determine which
   target audiences are more receptive to an ad campaign or to certain
   contents).
   
   View Illustrations 

 * DEVELOP AND IMPROVE SERVICES 522 PARTNERS CAN USE THIS PURPOSE
   
   Switch Label
   
   Information about your activity on this service, such as your interaction
   with ads or content, can be very helpful to improve products and services and
   to build new products and services based on user interactions, the type of
   audience, etc. This specific purpose does not include the development or
   improvement of user profiles and identifiers.
   
   View Illustrations 

 * USE LIMITED DATA TO SELECT CONTENT 125 PARTNERS CAN USE THIS PURPOSE
   
   Switch Label
   
   Content presented to you on this service can be based on limited data, such
   as the website or app you are using, your non-precise location, your device
   type, or which content you are (or have been) interacting with (for example,
   to limit the number of times a video or an article is presented to you).
   
   View Illustrations 

 * TARGETED ADVERTISING COOKIES
   
   Switch Label
   
   These Cookies are used to collect data about your browsing habits, use of the
   Services, your preferences, and your interaction with advertisements across
   platforms and devices for the purpose of delivering targeted advertising
   content, both on our Services and on third party sites. Third-party sites and
   services also use Targeting Cookies to deliver content, including
   advertisements relevant to your interests on the Services. If you reject
   these Cookies, you will see less relevant advertising.

 * CONTENT SELECTION COOKIES
   
   Switch Label
   
   This group is so Content Selection IAB group can have an id

 * SOCIAL MEDIA COOKIES
   
   Switch Label
   
   These Cookies are set by social media platforms on the Services to enable you
   to share content with your friends and networks. Social media platforms have
   the ability to track your online activity outside of the Services. This may
   impact the content and messages you see on other websites you visit.

IAB and Google Vendors‎
Cookies Used‎
Back Button


COOKIE LIST

Filter Button
Consent Leg.Interest
checkbox label label
checkbox label label
checkbox label label

Clear
checkbox label label
Apply Cancel
Save Settings
Reject All Allow All