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- Elon’s xAI said to near $20B funding deal tied to NVIDIA GPUs for Colossus 2, with NVIDIA investing $2B
Elon’s xAI said to near $20B funding deal tied to NVIDIA GPUs for Colossus 2, with NVIDIA investing $2B
Bay Area Times
October 08, 2025
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Top stories today:
- Elon’s xAI said to near $20B funding deal tied to NVIDIA GPUs
- NYSE owner to invest up to $2B in Polymarket, valuing it at $9B
- Oracle -3% following profit margin report
- Gold tops $4K for first time, fueled by U.S. shutdown
- Elon’s Optimus robot target for 2025 said to be scrapped
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Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):
1. Elon’s xAI said to near $20B funding deal tied to NVIDIA GPUs for Colossus 2, with NVIDIA investing $2B
The funding is reportedly split between ~$7.5B in equity and $12.5B in debt via a special-purpose vehicle.
$200B valuation was previously reported, but Elon denied it in the past.
Valor Capital is leading the equity round.
Apollo Global Management and Diameter Capital Partners are reportedly participating in the debt raise.
2. NYSE owner Intercontinental Exchange to invest up to $2B in Polymarket, valuing it at $9B
ICE said it would pay for the deal in cash and would become a distributor of Polymarket’s event-driven data.
“[I]t’s a monumental step forward for DeFi,” said Polymarket CEO Shayne Coplan.
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