On social media platform X, Tesla CEO Elon Musk conducted an informal survey to determine whether his publicly traded company should spend $5 billion in his most recent venture, xAI.
“Should Tesla invest $5B into @xAI, assuming the valuation is set by several credible outside investors?” was the specific question he posed. (This is merely a test; board approval and shareholder vote are required.)
Shortly after Tesla’s second-quarter results call ended on Tuesday night, the billionaire CEO—who also serves as the CEO of SpaceX, The Boring Co., Neuralink, X Corp., and now xAI—shared the poll.
For the fourth consecutive quarter, Tesla announced earnings that were below analyst projections and decreased revenue in its primary automotive sector.
But the business saw a sharp increase in energy storage sales and drew investors’ interest to its developing robotaxis and humanoid robots for the future. Following the company’s second-quarter report, Tesla’s shares fell more than 7% after hours.
Source (CNBC)
