Tesla Stock Surges on Musk’s xAI Integration Plans
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BTCCSquare news:
Tesla shares rallied 7.5% after Elon Musk proposed deeper ties between the electric vehicle maker and his artificial intelligence startup xAI. The CEO suggested Tesla could invest in xAI pending shareholder approval, though he later clarified a full merger isn't planned.
Wall Street sees strategic value in the alignment, with Wedbush's Dan Ives noting it could bolster Tesla's AI credentials while addressing Musk's compensation concerns. The companies already collaborate extensively, with xAI's recent $33 billion acquisition of X.com further intertwining Musk's corporate empire.
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