Billionaire investor Elon Musk has asked for the opinion of the public on a potential AI investment that his electric car company intends to make.
Elon Musk Vote Poll Gets 68% in Favor
In the early hours of Wednesday, Musk put out a poll on X asking his followers if Tesla should plunge $5 billion into xAI, the Artificial Intelligence arm of the social media company.
He based his question on the assumption that the valuation is set by several credible outside investors. Elon Musk made it clear that the vote was just to “test the water.” This is because the Tesla Board approval and shareholders vote are crucial.
With about 8 hours left for the voting process to end, a total of 797,244 X users have casted their votes. Precisely 68.3% voters are in support of the investment in xAI while the other 31.7% voted against it. The comments below this question underscored the result gotten from the vote. Several users strongly believe that the Tesla investment is a step in the right direction.
Should Tesla invest $5B into @xAI, assuming 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) July 24, 2024
One X user pointed to the fact that it would be a win for Tesla shareholders. The final decision on this $5 billion investment in xAI is left for the shareholders and the board to decide.
xAI Secures $6B From Sequoia And a16z
This question from Elon Musk comes only a few months after he raised $6 billion in a funding round for the AI venture. Sequoia Capital and Andreessen Horowitz were some of the investors in the funding round. Others were Saudi entrepreneur Prince Alwaleed Bin Talal and Fidelity Management & Research Company.
At the time, xAI’s valuation surged to $18 billion.
Meanwhile, it is likely that Musk posted this poll from Tennessee, as he landed in the US South state on July 21. The 2024 Bitcoin Conference is only one day away and it is speculated that Musk will attend.
He, however, claimed to be in Tennessee for other reasons linked with Grok AI but this does not rule out the possibility of his attendance at the event.
Disclaimer: The information provided in this article is for informational purposes only. It does not constitute investment, financial, trading, or any other sort of advice. You should not treat any of BGEcrypto’s content as such. BGEcrypto does not recommend that any cryptocurrency should be bought, sold, or held by you. Do your due diligence and consult your financial advisor before making any investment decisions.
