Musk's xAI Seeks $12 Billion to Build Second Data Center

On July 23, according to Techinasia, Elon Musk's AI startup xAI is seeking $12.00B in funding to build its second data center, Colossus 2. The company has already built its first data center, Colossus, in Memphis, Tennessee, with 200,000 GPUs, and is in talks with private equity firms such as Valor Equity Partners, which has invested in SpaceX and Tesla, to raise funds. Although xAI is valued at $75.00B and has previously raised at least $20.00B, the company is still not profitable and is expected to consume approximately $13.00B in cash by 2025. [Techflow]