Musk launches vote: Should Tesla invest $5 billion in xAI?

On July 24, Tesla CEO Elon Musk launched a poll on his personal social media platform "X" to ask the public for their views on whether Tesla should invest US$5 billion in xAI company . Currently, voting results show that up to 72.5% of participants believe Tesla should make this investment, while only 27.5% are opposed.

According to CNMO, xAI is currently developing an innovative chatbot called Grok.

1. xAI’s Grok project is ambitious and plans to use up to 100,000 GPUs to train and drive its next-generation products, aiming to create more intelligent and responsive chatbots.
2. To achieve this goal, Musk revealed an ambitious plan for xAI - to connect these GPUs in series to build an unprecedented supercomputer, which he vividly called a "computing power super factory."
3. He personally promised to personally supervise the progress of the project and ensure that it is successfully put into operation before the autumn of 2025.
4. In addition, Musk also revealed the possibility of cooperating with Oracle to develop this supercomputer, further enhancing the feasibility and expectations of the project.

   

   On the other hand, Tesla’s latest financial report also attracted the attention of the industry.
5. Total Revenue: In the second quarter of 2024, Tesla achieved total revenue of $25.5 billion.
6. Earnings per share (non-GAAP accounting): $0.52, slightly below the $0.61 to $0.62 range analysts had forecast.
7. Revenue growth: Overall revenue still exceeded the range of analysts' expectations ($24.3 billion to $25.13 billion).
8. Analyst forecasts: Analysts still expect Tesla’s earnings to decline to a certain extent this quarter, while revenue growth will remain solid.

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