Musk consults X users. It’s about $5 billion

The survey will help you decide

Tesla CEO Elon Musk posted a survey on the X platform asking users whether his company should allocate $5 billion to develop Musk’s xAI artificial intelligence startup.

At the time of writing this news, more than 100 people took part in the vote. 450 thousand users of the service. 70% of voters supported the billionaire’s idea.

The board and shareholders’ approval is essential for such a decision. Therefore, the survey is just a test.

– Musk did not hide the formality.

Should Tesla invest $5B into @xAIassuming the valuation is set by several credible outside investors?

(Board approval & shareholder vote are needed, so this is just to test the waters)

— Elon Musk (@elonmusk) Jul 24, 2024

According to him, however, Tesla’s support of xAI is not just an invention of the owner of both companies. Musk, at a meeting of Tesla’s board, did not hide that “xAI would be very helpful in the development of Tesla’s autonomous driving technology and the construction of a new data center”. Musk added that it would also be worth integrating the chatbot “Grok” created by xAI with Tesla’s software.

Musk created xAI last year as a response to the growing popularity of ChatGPT. A few months ago, it raised almost $6 billion in a round of financing from private investors, and the company’s value was then estimated at 24 billion.

Musk has done a survey like this before.

This isn’t the first time the billionaire has asked X users for their opinion. In 2021, when considering selling 10% of the shares of the portal, then known as Twitter, Musk also created a survey. The majority of votes were in favor of selling. Musk made just such a transaction the day after the survey.

See: Musk’s next groundbreaking project is about to become a fact