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xAI wants to be on the leading edge of artificial intelligence. And they are injecting more cash into computing capacity to do it.
What’s happening:
- Elon Musk’s artificial intelligence company xAI has just purchased a one million square foot property in Memphis, Tennessee for the purpose of building a new data centre
Why it matters:
- xAI has been aggressively scaling up and expanding their operations, including recently raising an additional $6B USD in new venture capital funding
Going deeper:
- xAI has been expanding their computing capacity rapidly, just recently pouring nearly a billion dollars into Nvidia (NASDAQ: NVDA) GPUs for a new data centre located in Atlanta, Georgia
- xAI also recently made waves with the newest version of their large language model Grok, which outperformed many of the world’s most popular artificial intelligence models across both logic and reasoning including OpenAI’s ChatGPT
The intrigue:
- The demand for both data centre capacity and access to GPUs has continued to be relentless, which just recently led to CoreWeave filing to become publicly traded on a major stock exchange in the United States through an IPO
