Copyright Benzinga
Elon Musk on Monday said that his companies are “trending towards convergence” in a post on X. The post suggests a potential integration among his various business ventures, including Tesla Inc. (NASDAQ:TLSA) and his AI startup xAI. xAI Investment Proposal The post comes as a non-binding proposal for Tesla to invest in xAI did not pass in the recent shareholder meeting in which Musk's $1 trillion pay package was approved. Morgan Stanley Says "They're Gonna Have To Revisit This" Musk was replying to a Morgan Stanley note shared by Tesla influencer Sawyer Merritt that was focused on the importance of xAI for Tesla. In its note, Morgan Stanley said, “They’re gonna have to revisit this. We don’t think investors understand just how important xAI is to Tesla and the broader Muskonomy." Tesla Working Closely With xAI Musk has been vocal about the collaboration between Tesla and xAI. In June, he mentioned that Tesla is working closely with xAI, which is developing the AI model Grok. Tesla Investment In xAI? The idea of convergence aligns with Musk’s previous statements about potential investments and collaborations. In July, Tesla acknowledged receiving multiple shareholder proposals regarding investment in xAI. Musk has expressed his support for Tesla investing in xAI, although he emphasized that the decision rests with shareholders. See Also: Tesla’s Cybertruck, Model 3 Program Manager Exits Amid Sluggish Sales: ‘Hardest Decisions Of My Life’ Anthony Scaramucci had earlier stated that a merger between Tesla and xAI “feels inevitable.” This comes amid Musk’s efforts to integrate AI into his companies. Read Next: Bernie Sanders Criticizes Robotics, AI Push Days After Calling Elon Musk’s Pay Package ‘Oligarchy:’ ‘They’re Investing To Replace You’ Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo courtesy: Shutterstock
