Elon Musk has stated that he does not support a merger between electric vehicle manufacturer Tesla and artificial intelligence startup xAI. In response to a question from a user on the social media platform X, posed to Tesla investors, “Should the two companies merge?”, Musk replied, “No.”
In a statement made the day before, Musk had said he wanted to put shareholders to a vote on whether Tesla could invest in xAI. However, neither company commented on the matter.
xAI acquired Musk’s social media platform X (formerly Twitter) in March for a $33 billion deal.
The company’s total value at that time was estimated at $80 billion.According to a news report in June, xAI is planning an investment round with a valuation of over $120 billion; some sources indicate that a valuation of $200 billion is also being considered. The Wall Street Journal recently reported that SpaceX has committed $2 billion as part of xAI’s $5 billion capital increase.
