Elon Musk announced a vote for Tesla shareholders to invest in his AI startup xAI, aiming to support its chatbot Grok. Musk has merged xAI with his social media platform X and is reportedly transferring $2 billion from SpaceX to xAI. The financial interplay between Musk’s companies poses risks, particularly as Tesla faces declining revenues amid growing competition. Despite these challenges, Tesla maintains a nearly $1 trillion valuation. Musk claims Grok is the "smartest AI in the world," reflecting his confidence in the venture.
Musk is orchestrating a massive shift in funds to support his AI startup xAI, especially its troubled chatbot Grok, by seeking Tesla shareholder approval.
Musk plans to siphon money from Tesla, SpaceX, and his social media platform X to support xAI, indicating a blending of financial resources among his companies.
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