The situation has led to growing conflict between Musk and Tesla shareholders, who are questioning whether he is fulfilling his obligations to Tesla while also managing other companies. Critics argue that Musk is only a part-time CEO of Tesla, which is responsible for the majority of his wealth. Tesla's stock price has fallen 29% this year, and the company is experiencing a troubling sales decline due to its aging lineup of electric vehicles and increased competition.
Key takeaways:
- Elon Musk has been accused of diverting a large shipment of AI processors from Tesla to his social media company X, causing delays in Tesla's development of autonomous vehicles and humanoid robots.
- Internal emails from Nvidia suggest that Musk may have exaggerated Tesla's procurement to shareholders, and his claims about Tesla's AI spending conflict with bookings and forecasts for 2025.
- Musk's multiple roles as CEO of Tesla, SpaceX, Neuralink, The Boring Co., and owner of X and xAI have raised concerns among Tesla shareholders about his ability to fulfill his obligations to each company.
- Tesla's stock price has fallen by 29% this year amid a sales decline, increased competition, and damage to its reputation due to Musk's behavior.