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Musk devotes his business empire to support AI dreams and money-burning machines urgently need Tesla shareholders 'support

Internet reports that funds from Elon Musk's business empire are increasingly gathering in one direction, that is artificial intelligence (AI). The billionaire said on Sunday he plans to let Tesla shareholders vote on whether to allow the company to invest in xAI, the artificial intelligence company it founded two years ago. According to people familiar with the matter, Musk's space transportation company SpaceX has recently agreed to invest about $2 billion in xAI. Musk said he does not support merging xAI with other companies, but hopes Tesla investors can share the dividends of xAI's growth. In March this year, xAI was merged into Musk's social platform X in an all-stock transaction, with a valuation of US$113 billion. However, Musk did not explain how investing in xAI by multiple of his companies would curb the company's monthly burning rate of US$1 billion. xAI is trying to build advanced AI models to compete with competitors such as OpenAI, but it has not yet established a foothold among large enterprise customers or a core position in the developer community.

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