Elon Musk Wants To Use Billions From Tesla To Bail Out xAI
xAI needs help, and Musk’s Tesla shareholders are the exact people he wants to fix it
Elon Musk loves pressing his luck when it comes to what he can get his Tesla shareholders to do. Just a few weeks after he got them to approve a $56 billion pay package, he’s apparently asking them to indirectly bail out the investors of his social media company, X (Twitter, baby).
Technically, the rescue involves xAI and X, which is still dealing with the fallout of Musk’s ill-advised $44 billion takeover of the company nearly two years ago. Issues compounded when Musk announced X would own 25 percent of the artificial intelligence company. In an effort to intertwine xAI and Tesla at Tesla’s second-quarter earnings call on July 23, Musk said the automaker was “learning quite a bit” from xAI (the sixth company Musk owns), according to Bloomberg…
