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Elon Musk’s xAI closing in on $20 billion raise backed by Nvidia chips

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Elon Musk’s artificial intelligence startup, xAI, is nearing a massive $20 billion capital raise tied to Nvidia’s cutting-edge GPU technology, according to Bloomberg News. The report says the financing will combine both equity and debt, with Nvidia investing up to $2 billion as part of the equity tranche.

The funds are linked to Nvidia’s graphics processing units (GPUs), which xAI plans to deploy in its upcoming Colossus 2 data center. The financing structure reportedly includes around $7.5 billion in equity and as much as $12.5 billion in debt, channeled through a special purpose vehicle (SPV) designed to purchase Nvidia chips.

Neither Nvidia nor xAI has commented publicly on the deal. However, the move signals a deepening relationship between the world’s leading AI hardware maker and one of its most ambitious software challengers.

In September, Musk dismissed reports claiming xAI was raising $10 billion at a $200 billion valuation, though he confirmed the company would seek capital “in the coming months.” Founded in July 2023, xAI aims to build an alternative to OpenAI’s ChatGPT, focusing on developing artificial general intelligence systems with tighter integration to Musk’s broader tech ecosystem.

OpenAI to Give Content Owners Control Over Sora AI Videos, Plans Revenue Sharing Model

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OpenAI is rolling out new tools to give content owners greater control over how their intellectual property is used in Sora, its recently launched AI video-generation app, and plans to introduce a revenue-sharing system for creators who opt in.

In a blog post on Friday, CEO Sam Altman said OpenAI will soon provide “more granular control over the generation of characters” within Sora, enabling rights holders such as film and television studios to decide how their characters can appear—or to block them entirely.

The move comes amid intensifying scrutiny of AI-generated content and growing concern across Hollywood and the creative industries about copyright infringement and the unauthorized replication of proprietary characters and likenesses.

Sora, launched this week as a standalone app in the United States and Canada, allows users to generate and share AI-created videos up to 10 seconds long. Its social-media-style interface quickly gained traction, with users producing clips based on both original and copyrighted material.

Altman acknowledged that the app’s rapid popularity—and the sheer volume of video creation—has outpaced expectations, creating a need for clear rules and compensation mechanisms. “We’ll experiment with different approaches,” he wrote, adding that the revenue-sharing model would evolve through “trial and error” as OpenAI tests various systems within Sora before applying them to its broader suite of AI tools.

At least one major studio, Disney, has already opted out of allowing its characters to appear in Sora-generated videos, sources familiar with the matter told Reuters. Other studios are reportedly reviewing whether to participate under OpenAI’s forthcoming licensing framework.

The company’s initiative could mark a turning point in the relationship between AI firms and content owners, shifting from conflict to collaboration—if a viable monetization model can be found.

Backed by Microsoft, OpenAI’s expansion into multimodal AI via Sora places it in direct competition with Meta’s Vibes and Google’s text-to-video tools, as major tech firms race to define the future of synthetic media creation.

Still, the effort to give rights holders control over how their creations are used—and to share revenue from those uses—reflects a broader recognition that AI’s creative power must coexist with creator compensation and consent.

Investors Warn of “AI Hype Bubble” as Startup Valuations Soar to Record Levels

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A growing number of leading investors are warning that artificial intelligence (AI) startup valuations are overheating, with early-stage funding rounds reaching unsustainable levels amid a global rush to back the next OpenAI.

Speaking at the Milken Institute Asia Summit 2025 in Singapore, Bryan Yeo, chief investment officer of Singapore’s sovereign wealth fund GIC, cautioned that the early-stage AI market is showing signs of “hype-driven froth.”

“There’s a little bit of a hype bubble going on in the early-stage venture space,” Yeo said. “Any startup with an ‘AI’ label gets valued at massive multiples of its tiny revenue. That might be fair for some, but probably not for most.”

According to PitchBook, AI startups raised $73.1 billion globally in the first quarter of 2025, accounting for nearly 58% of all venture capital investment. The surge has been fueled by megadeals such as OpenAI’s $40 billion capital raise, as investors race to secure a stake in the sector’s perceived future winners.

Yeo warned that “market expectations could be way ahead of what the technology can deliver,” adding that the ongoing AI capital expenditure boom may be masking economic vulnerabilities beneath the surface.

Todd Sisitsky, president of private equity firm TPG, echoed Yeo’s concerns, describing the fear of missing out (FOMO) as a dangerous force driving irrational valuations. “Some AI firms are hitting $100 million in revenue within months,” he said, “while others—still in early stages—are valued between $400 million and $1.2 billion per employee. That’s breathtaking.”

The warnings reflect growing unease among veteran investors who have seen similar speculative waves—from dot-com mania in the 1990s to crypto exuberance in the 2020s—inflate asset prices far beyond their underlying value.

Still, opinions remain divided on whether the AI sector has already formed a full-blown bubble or is simply experiencing the natural excesses of a transformative technology boom.

What’s clear is that AI’s gravitational pull on global capital continues to intensify, reshaping investment priorities and heightening the risk that innovation and speculation will soon collide.