Tesla shareholders didn’t approve of investment in Musk’s xAI

Core Points - A shareholder proposal for Tesla to invest in xAI was not approved despite receiving 1.06 billion votes in favor, as abstentions are counted as votes against [1][2] - Elon Musk has shown support for the investment, previously suggesting a $5 billion infusion, and xAI has already spent nearly $200 million on Tesla's Megapack batteries [3][4] - Tesla's board has not taken a definitive stance on the proposal, with Chair Robyn Denholm expressing uncertainty about the alignment of xAI's technology with Tesla's mission [5] Investment Context - Musk's ventures, including SpaceX, have financial ties to xAI, which is also integrated with his social networking platform X [6] - xAI is actively raising $20 billion in debt and equity to fund its infrastructure, including data centers and advanced computer chips [7]