July 25 (Reuters) - Tesla CEO Elon Musk said on Thursday
he will discuss a $5 billion investment in artificial
intelligence startup xAI, as the electric-vehicle maker looks to
double down on efforts to expedite the development of its
robotaxi and self-driving products.
The ambitious self-driving project has faced numerous
technical and legal hurdles in recent years, and the automaker
is now bolstering its AI infrastructure to train models for
Tesla's autonomous technology.
"Looks like the public is in favor. Will discuss with Tesla
board," Musk said in a post on X after a poll on the social
media platform showed nearly 68% of respondents said the company
should invest in xAI, the Grok chatbot developer.
Earlier this week, during Tesla's earnings 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 Grok with Tesla's software.
Tesla's second-quarter automotive gross margin and profit
fell short of Wall Street estimates on Tuesday as the company
cut prices and offered incentives to boost sales.
Musk, the world's richest person, launched xAI last year, in
a bid to compete with ChatGPT maker OpenAI, its backer Microsoft
and Alphabet's Google.
The startup raised $6 billion in a series B funding in May,
fetching a post-money valuation of $24 billion. Its investors
include Andreessen Horowitz and Sequoia Capital.
(Reporting by Akash Sriram in Bengaluru; Editing by Shinjini
Ganguli)