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Billionaire Elon Musk launched a poll on social media platform X, asking users if Tesla should invest $5 billion in his AI startup, xAI. Musk noted that board approval and shareholder votes are needed, but the poll is a way to “test the waters” for the deal.

Tesla did not respond to Reuters for comment, and xAI could not be reached.
Musk founded xAI last year to compete with Microsoft-backed OpenAI and Google’s Alphabet in the race for generative AI dominance. Earlier, Tesla reported its lowest profit margin in over five years due to price cuts and increased AI spending. Tesla anticipates that AI, software, and fleet-based profits will accompany its hardware-related profits.

Last month, Musk stated that Tesla would likely spend between $3 billion and $4 billion on Nvidia’s hardware this year. He also mentioned that of the $10 billion in AI-related capital expenditure this year, about half would be internal spending.

xAI, valued at $24 billion, raised $6 billion in Series B funding in May, backed by investors like Andreessen Horowitz and Sequoia Capital.