AI and society Archive

Jul 1, 2025

Elon Musk's AI company xAI has raised $10 billion in funding, split evenly between equity and debt, according to The Information. Morgan Stanley, which handled the debt financing, said the mix lowers capital costs and gives xAI broader access to funding. The bank did not disclose details about the investors involved. Back in December, xAI secured $6 billion from backers including Andreessen Horowitz, BlackRock, Lightspeed Venture Partners, and MGX to build AI data centers and further develop Grok, its competitor to ChatGPT. xAI later acquired Musk's platform X through a share swap, pushing the company's valuation to $113 billion.

Comment Source: The Information

Maximilian Schreiner

Jun 30, 2025

AI and society

US Senate moves to block state AI laws for five years if states take broadband funds

Maximilian Schreiner

Jun 27, 2025

AI and society

The Trump administration is preparing a series of executive orders aimed at accelerating the expansion of AI data centers in the United States, according to Reuters. The plan focuses on lowering barriers to power grid access and making federal land available for new facilities, addressing the rising electricity demand driven by AI applications. A formal action plan is expected to be unveiled on July 23. Faster permitting based on nationwide water rights framework is also under consideration. Critics warn that the U.S. power grid is already overburdened, with lengthy wait times for new energy projects. Earlier in his term, Trump declared an energy emergency and threw his support behind the Stargate Project with OpenAI, Oracle, and SoftBank. He is scheduled to speak at an AI event in Pennsylvania on July 15.

Comment Source: Reuters