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Tesla to Invest $5 Billion for 10~15% Stake in xAI to Boost AI Capabilities
Jul 24, 2024, 02:46 AM
Tesla is planning to invest $5 billion in xAI, a move that is expected to significantly enhance its capabilities in artificial intelligence. This investment, discussed during Tesla's Q2 earnings call by CEO Elon Musk, aims to position Tesla as a leader in the AI sector. The decision has sparked discussions among investors, with some favoring the investment over stock buybacks. The $5 billion stake in xAI, representing 10~15% of the company, is anticipated to provide substantial synergies and potentially surpass the achievements of OpenAI.
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