Tesla to Hold Shareholder Vote on Potential xAI Investment

According to BlockBeats, Tesla is planning a shareholder vote to decide on a potential investment in xAI, following SpaceX's intention to invest $2 billion in the company. Elon Musk, responding to a post on X, clarified that any decision to support xAI is not solely his to make. Last year, Musk had publicly asked X users whether Tesla should invest $5 billion in xAI, describing it as a tentative inquiry. He emphasized that the decision would require approval from Tesla's board and supporters. In April, Tesla disclosed that xAI was a client in the previous year, resulting in $188.3 million in expenses through commercial, consulting, and support agreements. The majority of this transaction, amounting to $191 million, involved xAI purchasing Tesla's utility-scale energy storage batteries, Megapack.