Elon Musk's artificial intelligence company, xAI, is raising up to $6 billion to buy 100,000 Nvidia chips. The money will be used to create a supercomputer in Memphis, US, which will be used for the development of Tesla's autonomous driving technology. The funding is expected to close early next week, coming from Middle Eastern sovereign wealth funds and other investors. xAI competes directly with companies such as OpenAI, creator of ChatGPT, Google with its Bard technology and Anthropic with its chatbot Claude.