Tesla is planning to hold a shareholder vote on whether the company should invest in its AI business, xAI. Elon Musk’s artificial intelligence startup. Musk, who has been heavily involved in the startup, expressed his eagerness to see Tesla back xAI, saying on social media, “If it was up to me, Tesla would have invested in xAI long ago.” The vote will determine if Tesla, a publicly traded company, will commit to supporting xAI, which is vying to compete with industry giants like OpenAI and Google.
xAI, which has already attracted substantial investment, including $6 billion from firms like Sequoia Capital, is growing rapidly. Recently, SpaceX was reported to invest $2 billion into the startup.
Tesla shareholders have raised concerns about Musk’s various ventures, including his political involvement. Some of the investors have urged Musk to dedicate more time to his CEO role at Tesla.
After Trump’s appointment as the head of DOGE, Tesla’s stock has fallen more than 16%.
The annual shareholder meeting is scheduled for November 6, 2025, the upcoming vote on xAI could prove pivotal in determining the company’s future direction.
The decision to invest in xAI reflects Tesla’s ongoing involvement in the rapidly evolving AI sector, but it may also stir debate over Musk’s ability to juggle his various business interests.
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Ankur Mishra is a journalist who covers an extensive range of news, from business, stock markets, IPOs to geopolitics, world affairs, international crises, and general news. With over a decade of experience in the business domain, Ankur has been associated with some of the reputed media brands. Through a sharp eye on global marketplaces along with deep insights and analysis of business strategies, Ankur brings simplicity to the complex economic matrix to decode market trends and empower people.
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