Elon Musk’s artificial intelligence startup xAI said it has completed a $20 billion funding round from investors including Nvidia Corp., Valor Equity Partners and the Qatar Investment Authority.
The investmenthas been in the works for months, and Nvidia had planned to put in as much as $2 billion, Bloomberg previously reported. XAI, which did not specify individual investment amounts or break out debt or equity portions of the round, said investors also include Stepstone Group, Fidelity Management & Research Co., MGX and Baron Capital Group. Cisco Systems Inc.’s investment group was the other strategic investor, the ...
