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Musk's xAI nears Oracle Cloud deal

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Translate from : Musks xAI nærmer sig Oracle Cloud-aftale
Elon Musk's AI company, xAI, is close to a monumental contract with Oracle. This $10 billion deal will transform xAI into one of Oracle's largest clients and a significant competitor in the AI landscape.
By Maria
15 may. 2024 04:14 pm
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Elon Musk's artificial intelligence company, xAI, is on the verge of signing a monumental contract with Oracle. According to Reuters, this deal involves renting cloud servers from Oracle, which will make xAI one of Oracle's biggest clients and a significant competitor in the AI landscape alongside giants like OpenAI and Google.

xAI's potential partnership with Oracle demonstrates its aggressive growth strategy, leveraging Oracle's solid cloud infrastructure to develop and train advanced AI models. This aligns with a trend of increased investment in AI capabilities, with giants such as Microsoft and Amazon also intensifying their AI infrastructure.

Oracle shares rose 4% and are now trading at $120.37 after the news emerged, indicating market approval of xAI's expansion plans. If the deal becomes final, it will not only benefit Oracle financially, but also position them favorably against cloud rivals like AWS and Azure in the AI hosting space.

The potential Oracle-xAI collaboration underscores the changing dynamics of the AI sector and highlights the central role that cloud infrastructure plays in shaping the future of AI development and market leadership.

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