Overview

• Bloomberg reports that xAI is arranging about $20 billion in financing split between roughly $7.5 billion in equity and up to $12.5 billion in debt through an SPV that would buy Nvidia GPUs and lease them to xAI for five years.
• Nvidia is reported to consider up to $2 billion in equity participation, with the package linked to xAI’s Memphis data center effort known as Colossus and a follow‑on system referred to as Colossus 2.
• Debt participants are said to include Apollo Global Management and Diameter Capital Partners, with Valor Capital leading the equity tranche and Apollo also taking part on the equity side.
• Bloomberg also reports that xAI previously raised about $10 billion this year and faces heavy cash burn near $1 billion per month, while Elon Musk stated in September that xAI was not raising capital.
• Separately, The Decoder reports that OpenAI signed around $1 trillion in infrastructure agreements with Nvidia, AMD and Oracle to target more than 20 GW of compute, drawing skepticism from analyst Gil Luria and set against CEO Sam Altman’s comment that profitability is not a near‑term priority.