Khaberni -Elon Musk announced that Tesla, the electric car company, will give its shareholders the option to invest in the emerging artificial intelligence company "XAI," which he also owns, according to a post on the X platform.
In response to a social media user who suggested that Tesla should acquire a stake in "XAI," which had recently acquired "X Corp.," owner of the X platform, Musk replied, "It’s not up to me... a vote by the shareholders will be held on this matter."
The richest man in the world added, "If it were up to me, Tesla would have invested in XAI long ago."
According to The Wall Street Journal, another company controlled by Musk, "SpaceX," will also invest two billion dollars in "XAI" as part of a capital increase totaling five billion dollars that needs to be raised.
In response to a user on the X platform who cited The Wall Street Journal, Musk said this would be "great" but it depends on "the approval of the board of directors and shareholders."
Since launching "XAI," which developed the generative AI assistant "Grook," Musk has discussed potential collaborations between his startup and both "SpaceX" and "Tesla."
The Financial Times revealed that the businessman seeks a valuation between 170 and 200 billion dollars for "XAI" in a new funding round.
"XAI," founded in July 2023, hopes to catch up with its main competitors in generative AI such as "ChatGPT" and "Gemini."
Musk's company has heavily invested in a massive data center in Memphis, Tennessee, which the billionaire says will become "the most powerful AI training system in the world."
Bloomberg reported that "XAI" is spending over a billion dollars a month on building enhanced models, as its expenses far exceed its revenues.
The chatbot "Grook" caused widespread controversy after its update on July 7, when it praised Adolf Hitler and suggested that people with Jewish family names are more prone to spreading hate online.
On Saturday, "XAI" apologized for Grook's offensive posts, announcing that it had corrected the instructions that led, according to the company, to these errors.
