Investing.com– Tesla Inc (NASDAQ:) CEO Elon Musk on Tuesday requested his followers on social media platform X whether or not the electrical car maker ought to make investments $5 billion in his synthetic intelligence startup xAI.
“Board approval & shareholder vote are wanted, so that is simply to check the waters,” Musk stated whereas posing the query by means of a ballot for his over 190.5 million followers on X.
Of the 286,472 respondents to the ballot, 70.5% voted sure whereas 29.5% voted no. The ballot is open till Wednesday night.
Musk based xAI in March 2023 with a mission to “perceive the universe.” The corporate had in Could 2024 reportedly raised $6 billion of funding by means of a slew of enterprise capital corporations.
Earlier this week, Musk stated the agency was coaching the “world’s strongest AI,” though he didn’t present particulars.
His ballot on X comes simply hours after Tesla clocked a disappointing second-quarter revenue, because the EV maker grapples with declining gross sales, elevated competitors and mounting prices from forays into AI and self-driving.
Tesla’s AI ambitions are being pegged as a lifeline for the corporate, which has now clocked 4 straight quarters of declining gross sales.
Musk’s administration of X, SpaceX and his beginning of xAI have drawn some criticism from Tesla shareholders that he’s not directing all of his consideration to the corporate.
However shareholders nonetheless voted in favor of an unprecedented $55 billion pay bundle for the Tesla CEO earlier this yr.