Tesla might invest $10B in xAI, shareholders get to vote
Tesla might soon put up to $10 billion into xAI, Elon Musk's artificial intelligence startup.
Shareholders get to vote on this move at Tesla's annual meeting on November 6, 2024.
While Musk says there won't be a merger, he's all for letting shareholders have their say.
Grok chatbot is already helping Tesla
xAI—owner of X (formerly Twitter)—has already raised $5 billion debt raise and a separate $5 billion strategic equity investment this year and is working closely with Tesla by bringing its Grok chatbot into cars and using X to boost AI training.
If the investment goes through, it could mean smarter self-driving tech and next-level in-car features for Tesla owners.
Tesla shares have dropped 22% this year
Tesla shares have dropped 22% this year as the company faces market headwinds.
Tesla emphasizes that it is not just about cars—it's a tech company betting big on AI and autonomy.
The final call on investing in xAI will come down to what shareholders decide this November.
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