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, “Should the two companies merge?”, Musk replied, “No.”
In a statement made the day before, Musk had said that he wanted to put shareholders to a vote on whether Tesla should 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 the time was estimated at $80 billion. According to news in June, xAI is planning an investment round with a valuation exceeding $120 billion; some sources suggest 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.
