Why are Nvidia and Uber backing this $500 million artificial intelligence (AI) stock?

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Why are Nvidia and Uber backing this $500 million artificial intelligence (AI) stock?

_{//stocks-investing.news-articles.net/content/202 .. 00-million-artificial-intelligence-ai-stock.html}
^{Published in Stocks and Investing on Monday, December 9th 2024 at 23:01 GMT by MSN}

This company has developed an autonomous robot designed to provide last-mile delivery services. The post Why are Nvidia and Uber backing this $500 million artificial intelligence (AI) stock? appeared first on The Motley Fool Australia.

The article discusses the significant investments made by tech giants Nvidia and Uber in xAI, a company focused on building artificial intelligence to accelerate human scientific discovery. xAI, led by Elon Musk, recently raised $6 billion in a funding round, valuing the company at $24 billion. This investment underscores the growing interest in AI's potential to revolutionize various industries. Nvidia, known for its advancements in AI hardware, and Uber, which sees AI as crucial for its future in autonomous driving technology, are backing xAI due to its promising technology and the broader implications of AI in solving complex problems. The article highlights how xAI's mission aligns with the strategic interests of these investors, aiming to leverage AI for not just commercial gains but also for advancing human knowledge.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/lifestyle/other/why-are-nvidia-and-uber-backing-this-500-million-artificial-intelligence-ai-stock/ar-AA1vyVRi ]

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