The recent proposal by Elon Musk for Tesla Inc. (NASDAQ:TSLA) to invest $5 billion in Grok parent xAI has garnered support from leading market experts on Wednesday.
What Happened:Wedbush analyst Dan Ives, CNBC's "Mad Money" host Jim Cramer and popular Tesla investor Sawyer Merritt have expressed their approval of Musk's proposal. Cramer responded with an emphatic "Of course!" while Ives and Merritt echoed the sentiment with a "Yes."
Of course!
— Jim Cramer (@jimcramer) July 24, 2024
Yes!! in my view
— Dan Ives (@DivesTech) July 24, 2024
In a separate poll on X, Merritt commented that Tesla should spend $5 billion on xAI before the valuation rises further.
xAI, but they need to do it quick before the valuation goes up more.
— Sawyer Merritt (@SawyerMerritt) July 24, 2024
Why It Matters: Musk initiated a poll on X, asking if Tesla should invest $5 billion in xAI. Musk stated that this poll was to "test the waters" before Tesla invested in xAI.
xAI, Musk's artificial intelligence startup, had seen an influx of former Tesla employees. This move stirred up some controversy, with accusations of Musk using Tesla as a talent pool for his other ventures.
In July, Musk's xAI initiated the training of the Memphis Supercluster with 100,000 Nvidia H100 GPUs. Musk lauded the teams involved in the launch, calling it the "most powerful AI training cluster in the world."
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Photo courtesy: Shutterstock
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会(ASIC)の管理を受けております(AFSL No. 224663)。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。