Elon Musk Proposes $5 Billion Tesla Investment in xAI Through Social Media Poll

Elon Musk Proposes $5B Tesla Investment In xAI Via Informal Poll On Social Media

Elon Musk sparked interest by posting an informal poll on the social media platform X, asking if Tesla should allocate $5 billion to his new startup, xAI. Musk, who helms multiple ventures including Tesla, SpaceX, The Boring Company, Neuralink, and X Corp., shared the poll following Tesla's second-quarter earnings call, according to CNBC. "Should Tesla invest $5B into @xAI, assuming the valuation is set by several credible outside investors? (Board approval & shareholder vote are needed, so this is just to test the waters)," Musk posted Tuesday. The automaker reported earnings below analysts' forecasts for the fourth consecutive quarter and a drop in revenue in its automotive division, despite a surge in energy storage sales. Tesla's future vision centers around its development of robotaxis and humanoid robots. Following the earnings update, Tesla's shares dipped over 7% in after-hours trading. Musk's enterprises often collaborate financially, though typically not at billion-dollar levels. For instance, SpaceX has advertised its Starlink services on X, and The Boring Company is constructing tunnels at Tesla's Texas facility. During the earnings call, shareholders questioned Musk about the potential integration of xAI's software, Grok, into Tesla vehicles. In response, Musk, the world's richest person, said, "Tesla is learning quite a bit from xAI. It's been actually helpful in advancing Full Self-Driving and in building up the new Tesla data center. With regards to investing in xAI, I think we'd need to have a shareholder approval of such investment. But I'm certainly supportive of that if shareholders are." The $5-billion figure emerged only after Musk posted the poll. Details on how Grok enhances Tesla's technology were not disclosed. Founded in March 2023 and publicly unveiled by Musk in July, xAI focuses on developing large language models and AI software to rival products from tech giants like Google, Microsoft, OpenAI, and Meta. AI chatbots from these companies can generate story ideas, transcripts, meeting action items, code, or translations. XAI's initial product, Grok, is positioned as a politically incorrect and witty alternative to leading chatbots such as OpenAI's ChatGPT, Google's Bard, Microsoft's Bing, and Anthropic's Claude. Despite its promise, Grok has yet to match the utility of these established offerings. Previously, xAI secured $6 billion in a Series B funding round, achieving a post-money valuation of $24 billion as per a company blog post dated May 27. Backers include Andreessen Horowitz and Sequoia Capital.

Elon Musk launches poll. Question: Should Tesla invest $5 billion in xAI

"Board approval & shareholder vote are needed, so this is just to test the waters," Musk said of the poll which came on the heels of Tesla posting its lowest profit margin in five years on price cuts and increased spending on AI projects. During Tesla's earning conference call, Musk said xAI would be "helpful in advancing full self-driving and in building up the new Tesla data center," adding that there are opportunities to integrate xAI's chatbot, Grok, with Tesla's software. Nearly 3 hours after the poll was posted, roughly 386,000 people had participated with 70% voting in favour of the investment. Tesla did not immediately respond to a Reuters request for comment, while xAI could not be reached for comment. Musk, the world's richest person, launched xAI last year, hoping to build an alternative to ChatGPT. The startup raised $6 billion in a series B funding in May, attaining a post-money valuation of $24 billion. Backers include Andreessen Horowitz and Sequoia Capital. Musk has previously said that he plans for a quarter of xAI to be owned by investors in X, formerly known as Twitter, which he bought for $44 billion although the social media firm's value has plunged since then. On the earnings call, Musk also dismissed concerns that he may be diverting resources from Tesla to some of his other companies. In June, CNBC reported that he had ordered Nvidia to ship thousands of AI chips destined for Tesla to xAI and X. Musk said Tesla's data center was full and there was no place to put the chips. Musk is a frequent poller on X. In 2021, he asked Twitter users about whether he should sell 10% of his Tesla stake and commenced selling shares just days after the poll.

Musk launches poll asking if Tesla should invest $5bln in xAI, early votes in favour

SAN FRANCISCO - Tesla CEO Elon Musk has launched a poll asking users on social media platform X whether the electric carmaker should invest $5 billion in his artificial intelligence startup xAI - with early votes showing most in favour of the move. "Board approval & shareholder vote are needed, so this is just to test the waters," Musk said of the poll which came on the heels of Tesla posting its lowest profit margin in five years on price cuts and increased spending on AI projects. During Tesla's earning conference call, Musk said xAI would be "helpful in advancing full self-driving and in building up the new Tesla data center," adding that there are opportunities to integrate xAI's chatbot, Grok, with Tesla's software. Nearly 3 hours after the poll was posted, roughly 386,000 people had participated with 70% voting in favour of the investment. Tesla did not immediately respond to a Reuters request for comment, while xAI could not be reached for comment. Musk, the world's richest person, launched xAI last year, hoping to build an alternative to ChatGPT. The startup raised $6 billion in a series B funding in May, attaining a post-money valuation of $24 billion. Backers include Andreessen Horowitz and Sequoia Capital. Musk has previously said that he plans for a quarter of xAI to be owned by investors in X, formerly known as Twitter, which he bought for $44 billion although the social media firm's value has plunged since then. On the earnings call, Musk also dismissed concerns that he may be diverting resources from Tesla to some of his other companies. In June, CNBC reported that he had ordered Nvidia to ship thousands of AI chips destined for Tesla to xAI and X. Musk said Tesla's data center was full and there was no place to put the chips. Musk is a frequent poller on X. In 2021, he asked Twitter users about whether he should sell 10% of his Tesla stake and commenced selling shares just days after the poll. (Reporting by Hyunjoo Jin in San Fransisco and Shivani Tanna in Bengaluru; Additional reporting by Utkarsh Shetti in Bengaluru; Editing by Edwina Gibbs)

Elon Musk launches poll asking if Tesla should invest $5 billion in xAI

Elon Musk's social media poll asks if Tesla should invest $5 billion in xAI, his AI startup competing with OpenAI and Google. 70.2% of 322,000 users support it as of 0234 GMT. Tesla, reporting its lowest profit margin in 5 years, cut prices to boost demand. $10B AI expenditure includes Nvidia hardware. xAI raised $6 billion.Billionaire Elon Musk launched a poll on social media platform X on Tuesday asking users whether Tesla should invest $5 billion in his artificial intelligence startup xAI. Board approval and shareholder votes are needed, Musk said, adding that the poll is to "test the waters" for a deal. Tesla did not immediately respond to a Reuters request for comment, while xAI could not be reached. As of 0234 GMT, more than 322,000 users had participated in the poll, with 70.2% voting in favour of the investment. The poll is set to close in a day. Musk founded xAI last year as a challenger to Microsoft -backed OpenAI and Alphabet's Google, which are among those leading the fierce race for generative AI dominance. Earlier in the day, Tesla reported its lowest profit margin in more than five years as the U.S. electric vehicle maker cut prices to revive demand and increased spending on AI projects. Tesla said it expects its hardware-related profit to be accompanied by the acceleration of AI, software and fleet-based profits. Last month, Musk said Tesla will likely spend between $3 billion and $4 billion on its purchases of chipmaker Nvidia's hardware this year. Of the $10 billion in artificial intelligence-related capital expenditure this year, around half would be internal spend, he said. xAI, which was valued at $24 billion, had raised in May $6 billion in series B funding, backed by investors including Andreessen Horowitz and Sequoia Capital. (Reporting by Utkarsh Shetti and Shivani Tanna in Bengaluru; Editing by Sherry Jacob-Phillips)

Elon Musk launches X poll asking if Tesla should invest $5 billion in xAI, early votes in favour

Tesla CEO Elon Musk has launched a poll asking users on social media platform X whether the electric carmaker should invest $5 billion in his artificial intelligence startup xAI - with early votes showing most in favour of the move. "Board approval & shareholder vote are needed, so this is just to test the waters," Musk said of the poll which came on the heels of Tesla posting its lowest profit margin in five years on price cuts and increased spending on AI projects. During Tesla's earning conference call, Musk said xAI would be "helpful in advancing full self-driving and in building up the new Tesla data center," adding that there are opportunities to integrate xAI's chatbot, Grok, with Tesla's software. Nearly 3 hours after the poll was posted, roughly 386,000 people had participated with 70% voting in favour of the investment. (Unravel the complexities of our digital world on The Interface podcast, where business leaders and scientists share insights that shape tomorrow's innovation. The Interface is also available on YouTube, Apple Podcasts and Spotify.) Tesla did not immediately respond to a Reuters request for comment, while xAI could not be reached for comment. Musk, the world's richest person, launched xAI last year, hoping to build an alternative to ChatGPT. The startup raised $6 billion in a series B funding in May, attaining a post-money valuation of $24 billion. Backers include Andreessen Horowitz and Sequoia Capital. Musk has previously said that he plans for a quarter of xAI to be owned by investors in X, formerly known as Twitter, which he bought for $44 billion although the social media firm's value has plunged since then. On the earnings call, Musk also dismissed concerns that he may be diverting resources from Tesla to some of his other companies. In June, CNBC reported that he had ordered Nvidia to ship thousands of AI chips destined for Tesla to xAI and X. Musk said Tesla's data center was full and there was no place to put the chips. Musk is a frequent poller on X. In 2021, he asked Twitter users about whether he should sell 10% of his Tesla stake and commenced selling shares just days after the poll. Read Comments

Musk launches poll asking if Tesla should invest $5 billion in xAI, early votes in favour

"Board approval & shareholder vote are needed, so this is just to test the waters," Musk said of the poll which came on the heels of Tesla posting its lowest profit margin in five years on price cuts and increased spending on AI projects. During Tesla's earning conference call, Musk said xAI would be "helpful in advancing full self-driving and in building up the new Tesla data center," adding that there are opportunities to integrate xAI's chatbot, Grok, with Tesla's software. Nearly 3 hours after the poll was posted, roughly 386,000 people had participated with 70% voting in favour of the investment. Tesla did not immediately respond to a Reuters request for comment, while xAI could not be reached for comment. Musk, the world's richest person, launched xAI last year, hoping to build an alternative to ChatGPT. The startup raised $6 billion in a series B funding in May, attaining a post-money valuation of $24 billion. Backers include Andreessen Horowitz and Sequoia Capital. Musk has previously said that he plans for a quarter of xAI to be owned by investors in X, formerly known as Twitter, which he bought for $44 billion although the social media firm's value has plunged since then. On the earnings call, Musk also dismissed concerns that he may be diverting resources from Tesla to some of his other companies. In June, CNBC reported that he had ordered Nvidia to ship thousands of AI chips destined for Tesla to xAI and X. Musk said Tesla's data center was full and there was no place to put the chips. Musk is a frequent poller on X. In 2021, he asked Twitter users about whether he should sell 10% of his Tesla stake and commenced selling shares just days after the poll. (Reporting by Hyunjoo Jin in San Fransisco and Shivani Tanna in Bengaluru; Additional reporting by Utkarsh Shetti in Bengaluru; Editing by Edwina Gibbs)

Elon Musk asks if Tesla should invest $5 bln in xAI By Investing.com

Investing.com-- Tesla Inc (NASDAQ:TSLA) CEO Elon Musk on Tuesday asked his followers on social media platform X whether the electric vehicle maker should invest $5 billion in his artificial intelligence startup xAI. "Board approval & shareholder vote are needed, so this is just to test the waters," Musk said while posing the question through a poll for his over 190.5 million followers on X. Of the 286,472 respondents to the poll, 70.5% voted yes while 29.5% voted no. The poll is open until Wednesday evening. Musk founded xAI in March 2023 with a mission to "understand the universe." The company had in May 2024 reportedly raised $6 billion of funding through a slew of venture capital firms. Earlier this week, Musk said the firm was training the "world's most powerful AI," although he did not provide details. His poll on X comes just hours after Tesla clocked a disappointing second-quarter profit, as the EV maker grapples with declining sales, increased competition and mounting costs from forays into AI and self-driving. Tesla's AI ambitions are being pegged as a lifeline for the company, which has now clocked four straight quarters of declining sales. Musk's management of X, SpaceX and his starting of xAI have drawn some criticism from Tesla shareholders that he is not directing all of his attention to the company. But shareholders still voted in favor of an unprecedented $55 billion pay package for the Tesla CEO earlier this year.

Large majority want Tesla to invest in xAI, poll shows (TSLA)

More than two-thirds of respondents to Elon Musk's post on social network X want Tesla (NASDAQ:TSLA) to invest $5B in Musk's artificial intelligence company xAI. By 2 p.m. EST on Wednesday, more than 850,000 users had voted in the poll, with 68.1% saying that Tesla should put capital into xAI. The AI startup was founded in July 2023 to "understand reality" and the "true nature of the universe." Musk noted that the poll, which was introduced earlier this week, was done "just to test the waters" as Tesla's board of directors and shareholders need to approve such a move. Tesla shares were tumbled more than 11% on Wednesday as investors expressed concern over slowing vehicle sales. If Tesla does indeed inject $5B into xAI, it would likely be at a valuation higher than $24B, which the company was most recently valued at after it raised $6B in a Series B funding round in May. Investors in that round included venture capital firms such as Valor Equity Partners, Vy Capital, Andreessen Horowitz and Sequoia Capital. Other investors include Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, amongst others. Ark Investment Management, led by Cathie Wood, also owns a stake in xAI. The company, which is primarily focused on the development of advanced AI systems, will use the funds to bring its first products to market, develop advanced infrastructure, and accelerate the research and development of future technologies. Character.AI has talked to several AI companies, including xAI, about research partnerships.

Musk Polls X Users: Should Tesla Invest in AI?

Elon Musk is asking users of his social media platform if his car company should invest in his AI platform. The world's richest man launched the non-binding, informal poll on X -- formerly Twitter -- late Tuesday (July 23), hours after saying during an earnings presentation that Tesla would continue its artificial intelligence (AI) investments. "Should Tesla invest $5B into xAI, assuming the valuation is set by several credible outside investors?" he wrote. Musk said the spending would need the approval of Tesla's board and shareholders, "so this is just to test the waters." As of Wednesday (July 24) morning, the poll had more than 689,000 votes, 68% of which were in favor of the investment. "We're investing in many future projects, including AI training and inference and a great deal of infrastructure to support future products," Musk said during the earnings call. The company's autonomy offerings powered by AI software and hardware include driver assistance features called FSD (Supervised), its humanoid robot Optimus, and its planned autonomous driving and robotaxi service. During the call, Musk was asked whether Tesla would invest in xAi and integrate that company's Grok software into its cars. "Tesla is learning quite a bit from xAI. It's been actually helpful in advancing Full Self-Driving and in building up the new Tesla data center," Musk said. "With regards to investing in xAI, I think we'd need to have shareholder approval of such investment. But I'm certainly supportive of that if shareholders are." As PYMNTS reported, Tesla's total revenues climbed 2% year over year, with automotive revenues falling 7%, energy generation and storage revenue rising by 100%, and its services and other revenue increasing 21%. However, the earnings also showed Tesla's profits falling more than 40%, sending its stock down on Tuesday. Musk launched xAI a little over a year ago, after months of hinting that he wanted to develop an alternative to OpenAI's AI-powered chatbot, ChatGPT. He played a role in the creation of that company but stepped down from its board in 2018 and has since criticized OpenAI for departing from its original mission. xAI announced in May it had raised $6 billion in a Series B funding round, giving it a pre-money valuation of $18 billion. The company said it would use the funding to take its first products to market, construct advanced infrastructure and accelerate its research and development.

Elon Musk fires off X poll on whether Tesla should invest $5B in xAI (NASDAQ:TSLA)

Tesla (NASDAQ:TSLA) CEO Elon Musk introduced a poll on his social media X account on Monday night. Musk asked if Tesla (TSLA) should invest $5B into @xAI, assuming the valuation is set by several credible outside investors. At 9:43 p.m, about 70.8% of the votes cast favored the xAI investment. Musk noted that board and shareholder approval would also be needed to make an investment of that magnitude. During the post-earnings conference call, Musk was asked about diverting a sizable shipment of AI processors that had been reserved for Tesla (TSLA) to X. On Wall Street, Morgan Stanley has weighed in on the Tesla (TSLA) earnings report. Analyst Adam Jonas said if investors exclude the restructuring charge and the ZEV surprise factor, the operating profit is above the consensus mark. He noted that the largely identical reiteration of language from the previous quarter's outlook, including targeting the notably lower year-over-year growth. He thinks that will keep the consensus estimates little changed.

Elon Musk Is Polling X And Asking If Tesla Should Invest $5B In Grok Parent xAI: 'This Is Just To Test The Waters' - Tesla (NASDAQ:TSLA)

Telsa Inc. TSLA and SpaceX CEO Elon Musk initiated a poll on X, formerly Twitter, asking if the EV giant should invest $5 billion in his AI company and Grok-parent, xAI. What Happened: On Tuesday, Musk posted the poll intending to "test the waters" before Tesla ivests into xAI. His question was: "Should Tesla invest $5B into xAI, assuming the valuation is set by several credible outside investors?" He also said that for this to come to fulfillment approval of the board and a shareholders' vote is needed. With 23 hours remaining for the poll to close, nearly 170,000 votes have been cast. At the time of writing, the majority, over 70%, are in favor of the proposed investment, while the remaining voters are against it. See Also: Nvidia's Potential $50 Trillion Valuation, Tesla And xAI's AI Expansion Plans, And Microsoft's Trillion-Dollar Tech: This Week In Artificial Intelligence Subscribe to the Benzinga Tech Trends newsletter to get all the latest tech developments delivered to your inbox. Why It Matters: This move by Musk is not entirely surprising. Last year in November, Musk expressed his intention to explore a potential partnership between Tesla and xAI, following suggestions from investors on X. In April this year, Musk highlighted that Tesla should be recognized as an AI or robotics company rather than just an auto company. Previously, it was reported that xAI has seen an influx of former Tesla employees, sparking controversy and accusations of Musk using Tesla as a talent pool for his other ventures. Meanwhile, on Tuesday, Tesla also reported second-quarter revenue of $25.5 billion, marking a 2% increase year-over-year. This figure surpassed the Street consensus estimate of $24.73 billion, according to data from Benzinga Pro. Price Action: Tesla shares experienced a significant decline in after-hours trading on Tuesday, plummeting by 7.8% to $227.23. During the regular trading session, the stock had already fallen 2.04%, closing at $246.38. Image via Shutterstock Check out more of Benzinga's Consumer Tech coverage by following this link. Read Next: Can Tesla Q2 Earnings Spark A Golden Cross? Here's What The Charts Indicate Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs

Elon Musk might have Tesla invest $5 billion in his AI startup xAI

Elon Musk says his ChatGPT rival Grok will be open-source as OpenAI feud continues Musk said the poll is only meant "to test the waters," as the company's board would have to approve the investment and shareholders would have to vote on the decision. Tesla did not immediately respond to a request for comment. xAI raised $6 billion in a Series B funding round in May that included Andreessen Horowitz, Sequoia Capital, and Saudi Arabian investor Prince Alwaleed bin Talal. The funding round pushed the company's valuation to $24 billion -- higher than the previously expected $18 billion. The startup has developed its own chatbot, Grok, which is seen as a competitor to OpenAI's ChatGPT. The AI startup was announced last July, and counts AI talent from DeepMind, OpenAI, Google Research, Microsoft Research, and others companies that have done research on large language models (LLMs) and machine learning. In March, Musk made the startup's AI chatbot assistant, Grok-1, open-source. Last month, Musk announced xAI had chosen Memphis, Tennessee for his "gigafactory of compute," or the startup's unbuilt supercomputer. Musk had reportedly pitched investors in May on xAI's plans to build a supercomputer to power Grok. In an internal presentation reported by The Information, Musk said he wanted the supercomputer to be up and running by next fall. Meanwhile, Musk had also reportedly asked Nvidia to prioritize its shipment of AI chips to X and xAI over Tesla.

Elon Musk wants your input on how to fund xAI

Conway Gittens: I'm Conway Gittens reporting from the New York Stock Exchange. Here's what we're watching on TheStreet today. Tech stocks led an earnings-induced nosedive across Wall Street on Wednesday. The Nasdaq plunged 654 points in its biggest one-day loss since 2022. Google parent Alphabet was the main culprit after mixed quarterly results. But tech wasn't the only earnings disappointment. Visa missed quarterly sales forecasts as high credit card fees dampened consumer demand. Watch More Videos: In other news: Elon Musk, one of the world's richest people on the planet, is seeking investment advice from you for his latest project. In a poll posted on - where else but X - Musk asked "Should Tesla invest $5 billion into xAI, assuming the valuation is set by several credible outside investors?" His idea of taking money away from Tesla to focus on his new artificial intelligence company came off as tone deaf. Musk's main revenue generator, Tesla, is admittedly facing slower sales growth this year and its latest earnings report hit with a thud. While total second-quarter sales beat forecasts, automotive revenue dropped 7 percent from a year ago. The decline would've been worse without recent price cuts, discounts, and incentives. Meanwhile, profits plunged more than 40 percent from a year ago, marking the fourth straight quarter of disappointing earnings. Investors responded by erasing more than one-tenth of Tesla's market value in a single day - that's a loss of $100 billion dollars in stock market wealth.. Musk is known for juggling several things at once as CEO of Tesla, SpaceX, Starklink, the Boring Company, X and now xAI - and his companies often make money off one another. That'll do it for your Daily Briefing. From the New York Stock Exchange, I"m Conway Gittens with TheStreet. Related: Analysts race to reset Tesla stock price targets after earnings

Subsidize B200 GPU Purchases: Elon Musk Commissions An Online Poll On Whether Tesla Should Invest $5 Billion in xAI

This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy. Even after being chastised by his board, Elon Musk continues to adhere to his penchant of deferring to online polls for monumental decision-making. While this habit does bestow a patina of populous appeal to important decisions, the superficiality of using online polls as the yardstick for defining corporate strategy is usually frowned upon in corporate governance 101, and rightly so. Just moments ago, Elon Musk commissioned a new online poll on X, asking users whether Tesla should invest $5 billion in his AI-focused venture, xAI. With 23 hours left, the poll has already garnered nearly 70,000 votes, with the vast majority skewed toward a "yes" vote. Bear in mind that xAI recently raised $6 billion in a new funding round that valued Elon Musk's AI-focused enterprise at $18 billion. While the chatbot Grok is xAI's only product at the moment, the startup intends to significantly expand its AI-related product portfolio by ramping up its investments in GPU clusters. Meanwhile, as we reported earlier this week, xAI has officially commenced training its Grok 3 Large Language Model (LLM) on "the most powerful AI cluster in the world," featuring around 100,000 liquid-cooled units of NVIDIA's H100 GPUs. For the benefit of those who might not be aware, the Grok 2 LLM is slated for launch next month, with Grok 3 due for launch in December. Do note that Elon Musk is also eyeing NVIDIA's latest GPUs. Back in June, the CEO of Tesla had announced that xAI's "next big step would probably be ~300k B200s with CX8 networking next summer." As we had noted at the time, this announcement meant that xAI was about to spend a whopping $9 billion on acquiring around 300,000 units of the B200 GPU, with each unit expected to cost around $30,000. Perhaps today's announcement is a deliberate gambit by Elon Musk to utilize Tesla's cash-rich coffers to subsidize xAI's upcoming binge-purchase of the B200 GPUs. After all, Tesla announced today that it generated a free cash flow of $1.3 billion for the second quarter of 2024, driven by a decrease in inventory. The company also spent around $600 million in AI-related CapEx.

Dan Ives, Jim Cramer And Sawyer Merritt Back Elon Musk's Plan For Tesla's $5B Investment In Grok Parent xAI - Tesla (NASDAQ:TSLA)

The recent proposal by Elon Musk for Tesla Inc. TSLA to invest $5 billion in Grok parent xAI has garnered support from leading market experts on Wednesday. What Happened: Wedbush analyst Dan Ives, CNBC's "Mad Money" host Jim Cramer and popular Tesla investor Sawyer Merritt have expressed their approval of Musk's proposal. Cramer responded with an emphatic "Of course!" while Ives and Merritt echoed the sentiment with a "Yes." In a separate poll on X, Merritt commented that Tesla should spend $5 billion on xAI before the valuation rises further. See Also: Elon Musk Pushes Back Optimus Timeline, Says Tesla's Humanoid Robot Will 'Hopefully' Be Available For Other Companies By 2026 Why It Matters: Musk initiated a poll on X, asking if Tesla should invest $5 billion in xAI. Musk stated that this poll was to "test the waters" before Tesla invested in xAI. xAI, Musk's artificial intelligence startup, had seen an influx of former Tesla employees. This move stirred up some controversy, with accusations of Musk using Tesla as a talent pool for his other ventures. In July, Musk's xAI initiated the training of the Memphis Supercluster with 100,000 Nvidia H100 GPUs. Musk lauded the teams involved in the launch, calling it the "most powerful AI training cluster in the world." Read Next: Elon Musk Puts On 'Dark MAGA' Laser Eyes, Turning $5K Into $1.8M For One Lucky Trader Photo courtesy: Shutterstock Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs