SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Google Cloud and Liberty Global Forge Strategic AI Partnership to Transform European Telecom Services 
SoftBank and Intel Partner to Develop Next-Generation Memory Chips for AI Data Centers 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Jensen Huang Urges Taiwan Suppliers to Boost AI Chip Production Amid Surging Demand 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Instagram Outage Disrupts Thousands of U.S. Users 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Elon Musk’s SpaceX Acquires xAI in Historic Deal Uniting Space and Artificial Intelligence 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
SpaceX Updates Starlink Privacy Policy to Allow AI Training as xAI Merger Talks and IPO Loom 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Elon Musk, CEO of Tesla, has launched a poll asking if Tesla should invest $5 billion in his AI company, xAI, with early results favoring the proposal.
Musk Characterized the Poll as an Experiment
Elon Musk, CEO of Tesla, has started a poll on the social media site X to see if the electric vehicle manufacturer should put $5 billion into his artificial intelligence company, xAI. So far, the majority of respondents are in favor of the idea.
Musk characterized the poll as an experiment, saying, "Board approval & shareholder vote are needed, so this is just to test the waters." The poll followed Tesla's lowest profit margin in five years, which was caused by price reduction and increased spending on AI initiatives.
xAI's Role in Tesla's Future, as Discussed by Musk
On Tesla's earnings call, Musk mentioned that xAI will be "helpful in advancing full self-driving and in building up the new Tesla data center," and he also mentioned that there are chances to combine xAI's chatbot, Grok, with Tesla's tech.
Roughly 386,000 individuals took part in the poll, with 70% of them favoring the investment, just three hours after it was posted.
No one from Tesla or xAI was available to comment when Reuters sought out for comment.
Launched Last Year, xAI Aims to Rival ChatGPT
Last year, Musk—the wealthiest man in the world—launched xAI with the intention of creating a substitute for ChatGPT. The firm reached a post-money valuation of $24 billion after raising $6 billion in May's series B fundraising. Some of the backers include Sequoia Capital and Andreessen Horowitz.
Per Investing.com, even though the value of the social media company has fallen since Musk purchased it for $44 billion, he has stated in the past that he intends for investors in X—previously known as Twitter—to acquire 25% in xAI.
Musk also downplayed suspicions that he was shifting funding away from Tesla and toward his other businesses during the results call.
He reportedly instructed Nvidia to send thousands of AI chips meant for Tesla to xAI and X in June, according to CNBC. Musk claimed that Tesla's data center was at capacity and could not accommodate any more chips.
On X, Musk is a regular voter. Just days after polling Twitter followers on whether he should sell 10% of his Tesla ownership in 2021, he started selling shares.
