The money behind Elon Musk’s trillion-dollar empire is increasingly flowing in one direction: toward artificial intelligence.
The billionaire on Sunday said he plans to hold a vote by Tesla Inc. shareholders on whether the EV maker should invest in xAI, the cash-burning artificial intelligence startup he founded two years ago.
Musk said he didn’t support a merger of the companies but wanted Tesla investors to get exposure to the growth at xAI, which was valued at $113 billion after being folded into his social media platform, X, in an all-stock deal in March. Bloomberg’s Craig Trudell reports. (Source: Bloomberg)
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Elon Musk Turns to Tesla Shareholders to Fuel His AI Ambitions
