TechFlow news, on July 23, according to Techinasia, Elon Musk's AI startup xAI is seeking $12 billion in funding to build its second data center, Colossus 2. The company has already built its first data center, Colossus, in Memphis, Tennessee, equipped with 200,000 GPUs, and is now engaging with private equity firms such as Valor Equity Partners, an investor in SpaceX and Tesla, for fundraising. Despite xAI's valuation reaching $75 billion and having raised at least $20 billion previously, the company remains unprofitable and is expected to burn through approximately $13 billion in cash by 2025.
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