01:27 PM EDT, 07/22/2025 (MT Newswires) -- Tesla (TSLA) Chief Executive Elon Musk is working with Valor Equity Partners to raise up to $12 billion for xAI, The Wall Street Journal reported Tuesday, citing people familiar with the situation.

Valor Equity is in discussions with lenders to raise the capital, according to the report.

The funds would be used for the acquisition of a large quantity of advanced Nvidia ( NVDA ) chips, which xAI would then lease for a new data center that would help train and power xAI's chatbot Grok, the report said.

Valor Equity and xAI did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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