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Elon Musk wants more control of Tesla before expanding AI development

Jan 16, 2024 - businessinsider.com
Elon Musk has expressed his desire for more control over Tesla, specifically a 25% stake, before expanding the company's AI and robotics capabilities. Musk, who currently holds about 13% of Tesla, stated he wants enough influence to be significant but not absolute, adding that he would prefer to build products outside of Tesla if he didn't have sufficient control. He also suggested he'd be open to a dual-class voting structure, despite being informed it's unachievable post-IPO in Delaware.

Despite his bullish stance on Tesla's AI abilities, Musk has been a vocal critic of AI, warning of its potential existential threat to humanity. He has also criticized OpenAI, a company he co-founded, and its product, ChatGPT, for bias. Tesla shares have fallen nearly 12% since the start of 2024, and representatives for Musk have not yet responded to a request for comment from Business Insider.

Key takeaways:

  • Elon Musk has expressed discomfort with expanding Tesla's AI and robotics capabilities without controlling at least 25% of the votes.
  • Musk currently holds a 13% stake in Tesla, and has stated that he would prefer to build products outside of Tesla if he does not have sufficient control.
  • Despite being bullish on Tesla's AI abilities, Musk has been a vocal critic of AI, warning that it poses an existential threat to humanity.
  • Tesla shares were down 1.7% in premarket trading and have fallen almost 12% since the start of 2024.
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