Saudi Arabia's PIF sovereign wealth fund is expected to play a large role in the deal, according to the FT report. PIF holds an indirect interest in xAI through its stake in Kingdom Holdings Company,

According to the Financial Times, xAI plans to spend $18 billion on expanding its compute infrastructure. The company trains its models using a supercomputer called Colossus that is located in Memphis. Earlier this year, Musk stated that xAI plans to increase the number of graphics cards in the system from 200,000 to 1 million.

Elon Musks AI startup xAI is reportedly exploring a new funding round that could value the company between $170 billion and $200 billion, according to the Financial Times. Sources familiar with the matter say Saudi