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🔥Elon Musk is spending $40 million to buy 100,000 chips! Here’s why:🔥
Elon Musk can’t stop. This time, Musk is buying 100,000 chips for his new artificial intelligence project xAI. Musk announced that xAI, which he founded last summer, has raised $6 billion in funding. So where will this huge budget go? Let’s explore this exciting news in detail.
Elon Musk is buying 100,000 Nvidia-branded chips for his artificial intelligence company xAI
The $6 billion in funding will be used to bring xAI’s first products to market, create advanced infrastructure, and accelerate the research and development of future technologies. So far, xAI has launched a chatbot called Grok as a competitor to OpenAI’s ChatGPT. Currently, Grok is only available to X Premium subscribers.
The round attracted investments from giants including Andreessen Horowitz, Sequoia Capital, and Saudi Arabian Prince Alwaleed bin Talal. Last year, xAI announced that it was seeking up to $1 billion in equity investment. However, a few months ago, the Financial Times reported that xAI was seeking $6 billion, and Musk denied the report at the time. Now we see that the $6 billion has actually been raised.
Developing artificial intelligence is not cheap. Nvidia's upcoming Blackwell B200 AI graphics card will cost between $30,000 and $40,000. As reported last week, xAI will need 100,000 of Nvidia's existing H100 chips to power an upgraded version of its Grok AI chatbot. Musk told investors that they plan to launch the new data center in the fall of 2025.
The competition for AI chips, talent, and technology has never been so fierce. Tech giants such as Google, Apple, Amazon, Microsoft, and Meta have invested billions of dollars in artificial intelligence projects. Microsoft has a multi-billion-dollar partnership with OpenAI. OpenAI CEO Sam Altman is seeking hundreds of billions of dollars to reshape the global chip industry. On the other hand, Musk is suing OpenAI, claiming that it has deviated from its mission to benefit mankind.
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