Elon Musk's Tesla and xAI companies are slated to invest $10 billion on AI capacity this year, but that pales in comparison to what their rivals are spending.
Between Tesla and xAI, Elon Musk ’s artificial intelligence aspirations have cost some $10 billion dollars in bringing training and inference compute capabilities online this year, according to a Thursday post on X by Tesla investor Sawyer Merritt.
Recommended Videos By the end of this year, Elon Musk's companies will have brought online roughly $10 billion worth of training compute capacity in 2024 alone. xAI, on the other hand, began assembling its Memphis supercomputer in July at its Gigafactory of Compute, located in an old Electrolux production facility in Memphis, Tennessee. Musk claims that the Memphis is “the most powerful AI training cluster in the world,” as it runs on 100,000 Nvidia’s H100 GPUs, through Musk has promised to double that capacity in short order.
By that measure, Musk’s AI efforts are already falling behind deep-pocketed rivals like Microsoft, OpenAI, and Google. In July, for example, analysts estimated that OpenAI would spend around $7 billion on AI compute, while losing around $5 billion on other operating costs. However, the company announced in early October that its latest round of investment funding totaled $6.6 billion at a $157 billion post-money valuation.
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