EV Daily | Tesla Shareholders to Vote on Investment Tied to xAI and Twitter Collaboration

【Tesla】

Tesla shareholders will vote on a proposed investment into Elon Musk's private company, xAI. Musk aims to boost collaboration between Tesla, xAI, and Twitter through this investment. He has previously used Tesla resources to benefit xAI and Twitter, such as NVIDIA GPUs, and xAI has recruited talent from Tesla. The vote will happen at the next shareholder meeting, delayed until November. Musk could potentially increase his ownership by exchanging Tesla shares for xAI in an all-stock deal, though this would require favorable valuations.

【Others】

SpaceX announced a $2 billion investment into xAI, another private company owned by Musk. Musk, who privately controls xAI, can make decisions without shareholder approval, unlike with Tesla. xAI recently bought Twitter from Musk at a high valuation, considered a bailout. Musk has been using public funds strategically to support his private ventures over time. A Tesla shareholder campaign is expected, reminiscent of Musk's previous controversial pay package approval campaign.