(Reuters) -Elon Musk’s artificial intelligence company xAI has partnered with Palantir Technologies and investment firm TWG Global, the companies said on Tuesday, as they look to tap growing AI demand in the financial services industry.

The data analytics firm and TWG, led by Guggenheim Partners founder Mark Walter and entertainment financier Thomas Tull, had in March announced a joint venture aimed at AI deployment in financial services and insurance sectors.

TWG will lead the implementation efforts by working with company executives to design and deploy AI-powered solutions, the companies said.

The collaboration will integrate xAI’s models, which include its Grok family of large language models and its Colossus supercomputer, into business operations. The companies expect “many more partners” after the inclusion of xAI.

Enterprise clients are investing in AI technologies to enhance services and introduce new features in their products, resulting in new partnerships for capturing market share.

In March, Nvidia and xAI joined a consortium backed by Microsoft, investment fund MGX and BlackRock to expand AI infrastructure in the U.S.

(Reporting by Jaspreet Singh in Bengaluru)