Musk’s xAI to Build 500 Megawatt Data Center in Saudi Arabia

Bloomberg's Caroline Hyde and Ed Ludlow discuss investor expectations ahead of Nvidia's earnings report. Nvidia CEO Jensen Huang and Tesla CEO Elon Musk are set to speak at the US-Saudi Investment Forum. Additionally, Brookfield Asset Management aims to secure $10 billion in commitments for a global AI infrastructure program in partnership with Nvidia and Kuwait's wealth fund.

Saudi Arabia has entered into a partnership with Elon Musk's artificial intelligence company, xAI, to establish a data center in the kingdom. This collaboration aims to enhance Saudi Arabia's technological infrastructure and support its ambitions in the AI sector. The deal signifies a growing interest in AI technologies within the region, aligning with the country's broader economic diversification goals.

AI video startup Luma AI has successfully raised $900 million in a Series C funding round led by Humain, bringing its valuation to approximately $4 billion. The company, founded by Indian-American CEO Amit Jain, is also partnering with Humain to develop a 2GW AI cluster in Saudi Arabia, marking a significant investment in the region's AI infrastructure.

Elon Musk announced that his artificial intelligence startup, xAI, plans to develop a 500 megawatt data center in Saudi Arabia in collaboration with the state-backed AI startup Humain. The data center will utilize Nvidia chips, marking a significant investment in the region's AI infrastructure.

Elon Musk's AI company xAI is reportedly in advanced discussions to raise $15 billion in funding, which would elevate its valuation to $230 billion, according to the Wall Street Journal. This funding round reflects the company's rapid growth and ambition in the artificial intelligence sector.

Elon Musk has reignited his feud with Bill Gates over a reported $500 million short position on Tesla that Gates has held for eight years. Musk has urged Gates to close this position to avoid a potential loss of $1.5 billion.

Elon Musk's artificial intelligence company, xAI, is seeking to raise $15 billion, pushing its valuation to $230 billion. This funding round reflects the company's rapid growth and ambition in the AI sector.

Vedanta Ltd. is set to increase its investments in Saudi Arabia as the Indian conglomerate aims to capitalize on the kingdom's aspirations to establish itself as a hub for metals and mining amid its extensive economic transformation.