Dell Technologies Inc. is in advanced stages of securing a deal worth more than $5 billion to provide Elon Musk’s xAI with servers optimized for artificial intelligence work.

Key Takeaways Dell shares climbed Friday following a report the PC maker is nearing a $5 billion AI server deal with Elon Musk's xAI.The companies could soon finalize a deal for servers powered by Nvidia GB200 chips,

Grok 3 is the latest product of Colossus and xAI seems to ramp up expansion of the project. The AI startup was said to prepare a deal to buy more than $5 billion in AI servers from Dell Technologies.

Dell Technologies is reportedly nearing a $5 billion deal to provide xAI with servers optimized for artificial intelligence work.

Dell Technologies is nearing a deal worth more than $5 billion to provide Elon Musk's xAI with servers optimized for artificial intelligence work, Bloomberg News reported on Friday, citing people familiar with the matter.

Elon Musk's AI company, xAI, is said to be in talks to raise $10 billion in a round that would value xAI at $75 billion.

Shares of Dell (DELL) are rising as it reportedly nears a $5 billion deal with Elon Musk's company xAI for servers supporting artificial intelligence (AI) work, including Nvidia's (NVDA) GB200 chips.

The company will sell servers containing Nvidia Corp GB200 semiconductors to Mr Musk’s AI startup for delivery this year. Read more at straitstimes.com.

Read more Elon Musk’s xAI is one step closer to becoming a reality after Dell Technologies Inc. secured a deal worth more than $5 billion, according to Bloomberg. Dell is expected to provide Musk’s AI startup company with servers to optimize “artificial intelligence work.