$NVDA - MUSK SEEKS $12B MORE FOR XAI TO STAY IN AI RACE Elon Musk is seeking up to $12 billion more for xAI, just weeks after raising $10 billion, to buy Nvidia chips for its next large data center. Valor Equity Partners is leading the funding, using a debt structure backed by chips leased to xAI. xAI is burning cash rapidly, with $13 billion projected for 2025, and remains unprofitable while building its own AI infrastructure, unlike rivals partnered with cloud giants.