Sources: xAI is in advanced talks to raise $15B at a $230B valuation, up from the $113B it reported after merging with X in March 2025 (Wall Street Journal)

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.

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 xAI plans to establish a 500 megawatt data center in Saudi Arabia in collaboration with the state-backed AI venture Humain, utilizing chips from Nvidia Corp. This initiative is part of a broader strategy to enhance AI capabilities in the region.

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.

AI music platform Suno has successfully raised $250 million in funding, led by Menlo Ventures, bringing its valuation to $2.45 billion, a significant increase from approximately $500 million in 2024. The company also reported an annual revenue of $200 million, indicating strong financial growth and market presence.

Adobe has announced plans to acquire Semrush, a company listed on the NYSE that specializes in search engine optimization, for $1.9 billion in cash, paying $12 per share. This acquisition comes as the demand for AI-driven solutions in digital marketing continues to rise, with Semrush providing essential tools for businesses like Amazon and TikTok.

Crypto miners, particularly IREN, are transitioning to AI data centers as demand for artificial intelligence surges. IREN's stock, which fell to approximately $1 in 2022, has skyrocketed by 300% in 2025, resulting in a market capitalization exceeding $13 billion. This shift highlights the growing intersection between cryptocurrency mining and AI technology.