Data Centers AI News & Updates

xAI Expands AI Infrastructure with Massive Memphis Property Acquisition

Elon Musk's AI company xAI has acquired a 1 million-square-foot property in Memphis to expand its AI data center operations, complementing its existing facility. The company plans to upgrade its primary Memphis facility to 1 million Nvidia GPUs this year, up from 100,000, while also expanding with another data center in Atlanta containing $700 million in hardware.

Microsoft Reduces Data Center Footprint Amid Industry Expansion

Microsoft has canceled leases totaling approximately two data centers' worth of capacity with multiple providers. This contraction stands in contrast to significant industry expansion, including the $500 billion Stargate project by OpenAI, Oracle, and SoftBank, and raises questions about Microsoft's expectations for future AI demand.

OpenAI in Talks for $40 Billion Funding at $340 Billion Valuation

OpenAI is reportedly negotiating a massive funding round of up to $40 billion that would value the company at $340 billion, with SoftBank potentially leading the investment with $15-25 billion. The capital would help fund OpenAI's money-losing operations, which reportedly lost $5 billion against $3.7 billion in revenue in 2024, and support its ambitious Stargate data center project.