Elon Musk, Tesla's CEO, has launched a poll on social media asking if Tesla should invest one dollar five billion in his AI startup xAI, with early results showing 70% support. This follows Tesla's lowest profit margin in five years. Musk assures the public this poll is only preliminary, requiring board and shareholder approval.
Elon Musk, CEO of Tesla and the world's richest person, has launched a poll on the social media platform X, asking if Tesla should invest one dollar five billion in his artificial intelligence startup xAI.
This comes shortly after Tesla reported its lowest profit margin in five years due to price cuts and increased AI spending.
The poll, which is not binding and requires board approval and shareholder vote, shows early results with 70% in favor.
Nearly 386,000 users participated within three hours.
Musk founded xAI last year to rival ChatGPT, with the company raising six billion dollars in funding, now valued at 24 billion dollars.
Major backers include Andreessen Horowitz and Sequoia Capital.
Despite concerns about diverting Tesla's resources, Musk emphasized the potential benefits of integrating xAI into Tesla's technology.