
Nvidia (NVDA) once again grabbed the headlines when its CEO, Jensen Huang, confirmed funding in Elon Musk’s xAI. The company agreed to invest up to $2 billion in xAI’s latest $20 billion raise. As CFO, Colette Kress has emphasized that Nvidia’s capital deployment strategy prioritizes accelerating industry AI adoption, even above buybacks.
CEO Jensen Huang says he’s “super excited” about xAI and only regrets “that I didn’t give [it] more money.” Musk personally invited Nvidia to invest, and Huang is “delighted” by the opportunity.