xAI Raises $20 Billion

Market update for January 7, 2026

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In today’s episode:

• storage stocks surge after Nvidia’s Jensen Huang highlights memory demand
• Discord confidentially files for a U.S. IPO as the tech IPO market heats up
• Elon Musk’s xAI raises a massive $20B with backing from Nvidia and Cisco
• Mobileye jumps on its $900M humanoid robotics acquisition
• Deckers slides after analysts downgrade Hoka’s growth outlook
• Web traffic data shows ChatGPT losing ground to Google’s Gemini