Summary
In a flurry of headlines, the name Elon Musk once again takes center stage as he swiftly quashes speculation concerning a potential financial alliance between his AI startup, xAI, and Tesla. The intriguing whisperings of a lucrative revenue-sharing agreement, suggesting that Tesla might offer up to half of the windfall from its Full Self-Driving (FSD) technology in exchange for the use of xAI’s groundbreaking artificial intelligence models, were simply more mirage than reality, or so insists Musk himself. On social media platform X, Musk, ever the vocal leader, offered a decisive rebuttal: “The idea of revenue sharing is ‘not accurate.'” Instead, he accentuates the close-knit relationship between Tesla and xAI, highlighting that while discussions with xAI engineers have indeed bolstered advancements in achieving unsupervised FSD, there’s no necessity for Tesla to license anything from the startup. The buzz originated from a recent report by The Wall Street Journal, which painted a vivid picture of collaboration that could also lead to the development of tantalizing features such as a digital voice assistant akin to Apple’s Siri or innovative software for their humanoid robot, Optimus. However, amid the swirling fog of speculation, Musk’s words cast a bright light on the absence of any formal agreements, drawing attention to the already existing synergy between the two entities. In the backdrop, an evolving narrative unfolds: xAI, having embraced numerous Tesla talents, has emerged as a pivotal player, fueled by Musk’s strategic diversion of thousands of Nvidia AI chips to the startup. Like a magician wielding hidden powers, Musk even hinted at relocating AI and robotics endeavors to xAI if his compensation at Tesla didn’t meet his expectations. The scene is complex, with Tesla’s board steadfast and indifferent, while shareholders voice their concerns through lawsuits in Delaware, asserting that this resource shift weakens Tesla’s position and investor trust. Meanwhile, the thrill of Wall Street ebbs and flows as Tesla stock experiences its own tumultuous journey—an increase in values is interrupted by a sharp drop, reminding investors of the dynamic and often volatile nature of modern markets. As Musk gears up for a robotaxi event set for October 10th, the anticipation builds, although the exact spectacle he will unveil remains shrouded in mystery. The final act is still unwritten, but the electric energy surrounding Tesla continues to pulsate, captivating investors with its promise and intrigue, while they cautiously navigate the market, each decision fueled by a blend of hope and analytical foresight.
Original Source: www.investors.com
