Elon Musk seeks public opinion on $5 billion xAI investment for Tesla
Share link:In this post: Tesla CEO Elon Musk posted a poll on social network X asking if his company should invest $5 billion in xAI. xAI is an artificial intelligence startup working on large language models with Grok as its first product. Tesla reported weaker profits for the second quarter, while xAI is valued at $24 billion after the last funding.Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on
Tesla and SpaceX CEO Elon Musk has asked followers whether his carmaker company should invest $5 billion in the artificial intelligence startup xAI. Musk launched the poll on social media platform X (previously Twitter), which he acquired two years ago.
Also read: Tesla revamps AI and robotics team after extensive layoffs
Early voters have polled in favor of the spending, but the tech mogul said, “Board approval and shareholders vote are needed, so this is just to test the waters.” It is important to remember that the poll for the investment idea came after Tesla reported its lowest profits in five years. The profit margins decreased after reductions in prices and higher spending on AI projects.
Elon Musk says Grok would help enhance Tesla’s Full Self-Driving system
During Tesla’s quarterly earnings call on Tuesday evening, Musk said, Tesla is learning a great deal from xAI. Shareholders asked Musk if there is a possibility of Tesla investing in xAI and integrating its software, called Grok, into Tesla cars. He said, xAI would be “actually helpful in advancing Full Self-Driving and in building up the new Tesla data center.”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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