Musk's flagship AI is negotiating financing at a valuation of $40 billion, hoping to raise billions of dollars

Musk's artificial intelligence startup xAI is in talks with investors about a round of financing that will value it at around $40 billion, according to people familiar with the matter. A few months ago, xAI's last valuation was $24 billion, when it raised $6 billion in the spring. One of the people familiar with the matter said xAI hopes to raise billions of dollars in a new round of financing. The cash raised will be counted in the $40 billion valuation. Musk said on Monday that xAI plans to increase the number of graphics processing units in its Memphis data center from 100,000 to 200,000. Nvidia CEO praised xAI's speed in building a data center in Memphis, calling it "the fastest supercomputer on the planet" in a recent podcast. (Jinshi)