Belimo H1 Sales Surge as AI Data Center Cooling Drives More Than Half of Growth 
Australia ASIC Tightens Auditor Oversight After KPMG Leak Scandal 
Judge Approves Anthropic’s $1.5 Billion AI Copyright Settlement With Authors 
SpaceX Q2 Earnings on Aug. 4 Set Stage for Historic Insider Share Unlock 
Samsung Cuts U.S. Consumer Electronics Jobs as Headquarters Moves to Texas 
IBM Q2 Earnings Miss Estimates as Software Growth Offsets Infrastructure Weakness 
US, China to Hold AI Talks Ahead of Xi’s September Visit 
Lockheed Martin Unveils Lower-Cost Patriot ACE Interceptor to Meet Rising Air Defense Demand 
Cathay Pacific Sees H1 Profit Surge on Strong Travel Demand 
Scandinavian Tobacco Group Sells BREAK and Moro Brands to Japan Tobacco for €176 Million 
Macquarie Names Greg Ward as CEO, Signaling Stability and Strategic Continuity 
Nationwide Data Center Protests Highlight Growing Backlash Against AI Expansion 
Super Micro Computer Stock Jumps 20% After Record AI Orders and Margin Surge 
Alaska Air Q3 Outlook Misses Estimates as Higher Fuel Costs Weigh on Profit Forecast 
OpenAI Australia Data Center Switches Cooling Strategy After Recycled Water Plan Fails 
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.
