Business & Economics
xAI Secures $20 B GPU-Backed Series E, Pioneering Asset-Based AI Financing
On 6–7 Jan 2026, Elon Musk’s xAI closed an upsized $20 billion Series E whose novelty is a $12.5 billion special-purpose vehicle that buys Nvidia GPUs and rents them back to xAI, shifting risk from the start-up’s balance sheet to the chips themselves.