Musk says he does not support a merger between Tesla and xAI but backs investment

Musk says he does not support a merger between Tesla and xAI but backs investment


Elon musk and the xAI logo.

Vincent Feuray | Afp | Getty Images

Elon Musk on Monday said he does not support a merger between xAI and Tesla, as questions swirl over the future relationship of the electric automaker and artificial intelligence company.

X account @BullStreetBets_ posted an open question to Tesla investors on the social media site asking if they support a merger between Tesla and xAI. Musk responded with “No.”

The statement comes as the tech billionaire contemplates the future relationship between his multiple businesses.

Overnight, Musk suggested that Tesla will hold a shareholder vote at an unspecified time on whether the automaker should invest in xAI, the billionaire’s company that develops the controversial Grok AI chatbot.

Last year, Musk asked his followers in an poll on social media platform X whether Tesla should invest $5 billion into xAI. The majority voted “yes” at the time.

Musk has looked to bring his various businesses closer together. In March, Musk merged xAI and X together in a deal that valued the artificial intelligence company at $80 billion and the social media company at $33 billion.

Musk also said last week that xAI’s chatbot Grok will be available in Tesla vehicles. The chatbot has come under criticism recently, after praising Adolf Hitler and posting a barrage of antisemitic comments.

CNBC’s Samantha Subin contributed to this report.



Source

Figure AI sued by whistleblower who warned that startup’s robots could ‘fracture a human skull’
Technology

Figure AI sued by whistleblower who warned that startup’s robots could ‘fracture a human skull’

Startup Figure AI is developing general-purpose humanoid robots. Figure AI Figure AI, an Nvidia-backed developer of humanoid robots, was sued by the startup’s former head of product safety who alleged that he was wrongfully terminated after warning top executives that the company’s robots “were powerful enough to fracture a human skull.” Robert Gruendel, a principal […]

Read More
Here are real AI stocks to invest in and speculative ones to avoid
Technology

Here are real AI stocks to invest in and speculative ones to avoid

Concerns about stock valuations in companies tied to artificial intelligence knocked the market around this week. Whether these worries will recede, as they did Friday, or flare up again will certainly be something to watch in the days and weeks ahead. We understand the concerns about valuations in the speculative aspects of the AI trade, […]

Read More
The Street’s bad call on Palo Alto – plus, two portfolio stocks reach new highs
Technology

The Street’s bad call on Palo Alto – plus, two portfolio stocks reach new highs

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: The S & P 500 bounced back Friday, recovering from the prior session’s sharp losses. The broad-based index, which was still tracking for a nearly […]

Read More