Elon Musk raises $6 billion for xAIs Memphis data center; will purchase 100,000 Nvidia chips to boost Teslas full self-driving capabilities

Date:
Thu, 28 Nov 2024 18:31:00 +0000

Description:
Elon Musk raises $6 billion to buy 100,000 Nvidia chips for xAIs Memphis data center

FULL STORY ======================================================================Elon Musk seeks $6 billion for xAIs Memphis data center Funding to purchase
100,000 Nvidia chips for AI projects Data center will power Teslas Full Self-Driving capabilities

Elon Musk knows that staying competitive in the AI space requires deep
pockets - back in February 2024, the worlds richest man said Tesla would
spend "over a billion dollars" on Nvidia's H100 and AMD's Instinct MI300 hardware, adding, The table stakes for being competitive in AI are at least several billion dollars per year at this point.

More recently, the controversial billionaire gave us a tour inside the
massive AI supercluster, dubbed Cortex , being used by X (formerly Twitter) and followed that up with news that Colossus, a new 100k H100 training
cluster for Musks artificial intelligence company xAI, is now up and running
.

According to CNBCs David Faber , Elon Musk has raised up to $6 billion (at a $50 billion valuation) to purchase 100,000 Nvidia chips for xAIs Memphis data center, which will - among other things - power Teslas full self-driving
(FSD) capabilities. Musk's government role

Sources familiar with Musks plans told Faber that the $6 billion funding
comes from $5 billion of sovereign funds in the Middle East and $1 billion from other investors who will have the option to increase their investment.

Following Donald Trumps election victory and the announcement that Elon Musk will lead the new Department of Government Efficiency within the president-elects administration, we can expect to see sizable government changes regarding AI regulation.

Musks future role, despite potential conflicts of interest, is to "dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure federal agencies."

However, no one believes for a second that this will be the limit of his involvement in wider policy decisions.

As CNBC reports , Trump plans to repeal President Joe Bidens executive order on AI, according to his campaign platform, stating that it 'hinders AI innovation and imposes radical left-wing ideas on the development of this technology,' and that 'in its place, Republicans support AI development
rooted in free speech and human flourishing.' You might also like Tesla will spend billions on Nvidia and AMD GPUs and CPUs Elon Musk shows us what $1 billion worth of AI GPUs looks like xAI cluster is now the most powerful AI training system in the world



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Link to news story: https://www.techradar.com/pro/elon-musk-raises-usd6-billion-for-xais-memphis-d ata-center-will-purchase-100-000-nvidia-chips-to-boost-teslas-full-self-drivin g-fsd-capabilities


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