Elon Musk, the CEO of Tesla, posted a poll on Twitter asking whether Tesla should invest in xAI, an AI company he owns, with a $5 billion investment at stake. The business value aligns with external investor evaluations.
The poll results, with 958,086 participants, showed that 67.9% voted in favor of the investment. Despite this, the poll is unofficial, and Musk stated that board approval and shareholder consent are required before making any decisions. The poll was simply a preliminary inquiry.
Prior to this poll, during Tesla’s latest earnings call, Musk was asked whether the company plans to invest in xAI. He emphasized the potential benefits of xAI, particularly in advancing the development of autonomous driving systems such as FSD. However, any investment in this area requires shareholder approval.
There was a previous dispute between Tesla and xAI when Tesla’s GPUs, totaling 12,000 units, were provided to xAI for use, leading to a subsequent return of the received GPUs.
Source: CNBC
TLDR: Elon Musk conducted a poll on Twitter regarding Tesla’s potential investment in xAI, his own AI company, but emphasized that official approval from the board and shareholders is necessary before any decisions are made.
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