Tesla (NASDAQ: TSLA) is tabling a proposal for shareholders to authorize the board to invest in xAI, set to be voted on at the 2025 annual meeting.
The proponent, Stephen Hawk, states he is a beneficial owner of at least $2,000 of Tesla stock held for at least three years and intends to present the item at the shareholders meeting.
The resolution asks directors to approve “an investment in xAI, in an amount and form deemed appropriate by the Board,” citing strategic alignment between Tesla’s AI, robotics, and energy ambitions and xAI’s AI capabilities.
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“WHEREAS, an investment in xAl would provide Tesla with a stake in a major Al player, potentially yielding significant financial returns while fostering technological advancements that benefit Tesla’s customers and shareholders,” the proposal read.
It is worth noting that Elon Musk heads the operations of both companies. The proposal comes on the heels of Tesla quietly unplugging the Dojo supercomputer team, which was once touted by Musk as the company’s ticket to full self-driving supremacy employing artificial intelligence.
Tesla’s board “makes no recommendation” on the proposal, according to the filing excerpt in the notes. No price tag, timetable, or investment structure is prescribed, leaving implementation entirely to board discretion if shareholders approve.
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