AI
Tesla gets multiple shareholder proposals related to investment in xAI
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Tesla said on Friday it had received a number of shareholder proposals regarding the company’s plan to invest in CEO Elon Musk’s artificial intelligence startup xAI.
Musk ruled out a merger between Tesla and xAI earlier in July, but said he planned to hold a shareholder vote on investment in the startup by the automaker.
The proposals come amid significant funding activity for xAI this year. The startup completed a $5 billion debt raise alongside a separate $5 billion strategic equity investment, Morgan Stanley said last month.
Musk has pursued an…
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