Elon Musk Tells Why xAI Will End Up Enhancing Tesla's Value

Tesla Inc TSLA CEO Elon Musk on Wednesday explained how he expects his latest venture, xAI, to impact the EV company.

What Happened: “I think it (xAI) will enhance the value of Tesla,” Musk said on the company’s second-quarter earnings call on Wednesday.

“There were just some of the world's best AI engineers and scientists that were willing to join a startup, but they were not willing to join a large sort of relatively established company like Tesla,” he said.

The CEO added that he thought it was better to start something where these people will work instead of them going to work elsewhere, paving the way for AGI-focused xAI.

Giving an example, Musk said that Charlie Colman was not ready to leave Apple for Tesla but for both Tesla and SpaceX.

Why It Matters: Last week, Elon Musk launched xAI aimed at ‘understanding reality.’

The team members at the startup include people recruited from DeepMind, OpenAI, Google Research, Microsoft Research, Tesla, and the University of Toronto.

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