Elon Musk confirms Tesla will let shareholders decide on xAI investment: Details here

Elon Musk confirmed that Tesla is planning to conduct a survey on whether he would invest his shareholders in Xai. The billionaire’s comments come shortly after a Wall Street Journal report claims that SpaceX claims that it is ready to invest $ 2 billion in Xai.

Musk, who wrote on X, argued that the final decision to invest in Xai was not with him, but with the shareholders. Last year, Musk conducted a survey while Tesla would invest 5 billion dollars in Xai and testing only water.

Musk, “It’s up to me. If it’s up to me, Tesla would have invested in Xai a long time ago. We will get a shareholder vote on this issue, Mus Musk wrote in response to a mission.

What is xai?

Xai is an artificial intelligence laboratory founded by Elon Musk in the beginning of 2023 in response to the increasing popularity of Chatgpt. Since then, the company has recently presented Grok AI Chatbot, which has recently been updated on Gok 4 models. Chatbot compete directly like Chatgpt, Gemini and Claude.

Earlier this year, Musk combined Xai and X with an agreement that valued AI initiative to $ 80 billion and social media companies for $ 33 billion.

According to a Bloomberg report, Musk is looking for an investment in the combined organization with a value of 200 billion dollars. Tesla’s desire to invest in Xai seems to be a part of the planned plan of its institutional empire more closely.

At the beginning of this month, Musk announced that Tesla would use Grook Ai in his cars. The home manufacturer announced in April that Xai was one of its customers last year and spent 198.3 million dollars for commercial consultancy and support agreements with Tesla. Bloomberg reported that most of this amount (191 million dollars) was spent to buy Tesla’s useful energy storage batteries known as Megapack.