xAI, Elon Musk's AI venture, is reportedly seeking up to $12 billion in funding to purchase Nvidia chips for building large data centers. According to the Wall Street Journal, the funding round, led by Valor Equity Partners, aims to leverage the private-credit market. This move follows xAI's recent $10 billion capital raise and underscores the company's commitment to expanding its AI infrastructure amid intense competition in the artificial intelligence sector. The substantial investment highlights the growing demand for high-powered computing resources required for advanced AI models.