No Need for Licensing from Elon’s AI Company, Says Musk
- Tesla discussed paying Elon Musk’s AI company, xAI, for access to its technology and resources.
- Musk controls roughly 20% of Tesla stock but hasn’t yet achieved the desired 25% voting control.
- xAI was founded by Musk after he expressed a desire to keep all AI projects within Tesla.
- Tesla has its own AI programs expected to generate trillions in value over time.
- Musk denies any need to license anything from xAI, aiming to develop unsupervised FSD internally.
- Tesla is hosting a Robotaxi event on Oct. 10 to showcase self-driving capabilities.
- Tesla stock down about 15% this year due to slowing EV sales.
Tesla has discussed paying Elon Musk’s artificial intelligence company, xAI, for access to its technology and resources. However, Musk clarified that there is no need to license anything from xAI as the discussions have helped accelerate achieving unsupervised Full Self-Driving (FSD). Tesla’s own AI programs are expected to generate trillions in value over time. The company will showcase its self-driving capabilities at a Robotaxi event on October 10th, aiming to boost investor sentiment and counter slowing EV sales that have caused a 15% drop in stock this year.
Factuality Level: 6
Factuality Justification: The article provides relevant information about Tesla’s AI strategy and its potential impact on the company’s stock, but contains some sensationalism and opinionated language. It also includes a minor error regarding the year of the compensation deal vote (2018 instead of 2021). The author’s use of phrases like ‘PTSD’ and ‘giving up some of the upside’ can be seen as exaggerations, but overall, the article is informative and objective.
Noise Level: 6
Noise Justification: The article contains some relevant information about Tesla’s AI strategy and its potential impact on the stock, but it also includes unnecessary details such as the mention of Elon Musk’s control over Tesla stock and unrelated advertisements. Additionally, there is a repetitive focus on investor sentiment and speculation without providing strong evidence or analysis.
Public Companies: Tesla (TSLA)
Private Companies: xAI
Key People: Elon Musk (CEO of Tesla)
Financial Relevance: Yes
Financial Markets Impacted: Tesla stock and financial markets
Financial Rating Justification: The article discusses Tesla’s stock performance, its EV sales, self-driving technology development, and potential impact on the company’s revenue streams. It also mentions the possibility of Tesla paying for AI resources from xAI, which could affect Tesla’s financial decisions and partnerships. These factors can influence investor sentiment and financial markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article, but the news about Tesla’s potential collaboration with xAI caused some concerns among investors. However, it doesn’t have a significant impact on the overall situation.
Move Size: 15%
Sector: Technology
Direction: Up
Magnitude: Small
Affected Instruments: Stocks
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