Elon

Billion

Elon Musk’s artificial intelligence firm, xAI, is on the verge of sealing a monumental contract with Oracle.
According to <a href="https://www.reuters.com/technology/elon-musks-xai-nears-10-bln-deal-rent-oracles-ai-servers-information-reports-2024-05-14/" target="_blank" rel="noopener noreferrer nofollow">Reuters</a>, this deal, estimated at $10 billion, revolves around leasing cloud servers from Oracle, making xAI one of Oracle’s largest clients and a significant contender in the AI landscape alongside giants like OpenAI and Google.
xAI’s potential partnership with Oracle showcases its aggressive growth strategy, tapping into Oracle’s robust cloud infrastructure to develop and train advanced AI models. This aligns with a trend of increased investment in AI capabilities, with giants like Microsoft and Amazon also ramping up their AI infrastructure.
Oracle’s shares <a href="https://www.google.com/search?q=Oracle%27s+shares&amp;oq=Oracle%27s+shares&amp;gs_lcrp=EgZjaHJvbWUyBggAEEUYOTIPCAEQABgNGIMBGLEDGIAEMgkIAhAAGA0YgAQyCQgDEAAYDRiABDIJCAQQABgNGIAEMgkIBRAAGA0YgAQyCQgGEAAYDRiABDIJCAcQABgNGIAEMgkICBAAGA0YgAQyCQgJEAAYDRiABNIBCDIyMDdqMGo3qAIAsAIA&amp;sourceid=chrome&amp;ie=UTF-8" target="_blank" rel="noopener noreferrer nofollow">surged</a> by 4%, currently trading at $120.37, following the news, indicating market approval of xAI’s expansion plans. If finalized, this deal not only benefits Oracle financially but also positions it favorably against cloud rivals such as AWS and Azure in the AI hosting space
The potential Oracle-xAI alliance underscores the evolving dynamics of the AI sector, highlighting the central role of cloud infrastructure in shaping the future of AI development and market leadership.
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 Also Read: <a href="https://www.cryptotimes.io/2024/04/26/musksxai-startup-approaches-6-billion-in-funding/" target="_blank" rel="noopener noreferrer nofollow">Musk’s xAI Startup Approaches $6 Billion in Funding</a>
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Elon Musk’s xAI Nearing $10B Oracle Cloud Server Lease Deal

The Crypto Times

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