One Elon Musk business could be a major investment by another Elon Musk business.
According to a report from the Wall Street Journal, which cites investors close to SpaceX, the company has agreed to invest $2 billion in Musk's AI startup Xai. The investment reportedly will be part of a $5 billion share hike announced by Morgan Stanley at the end of June (along with another $5 billion in debt).
This is SpaceX's first investment in Xai and will be one of the biggest investments in another company. According to WSJ, SpaceX is already using Starlink Internet Services' power customer service using Xai's Chatbot Grok and is planning more partnerships.
Musk was not embarrassed to use a variety of companies to support each other, including combining Xai with Xai (formerly Twitter) earlier this year. And despite Xai's recent apology for Grok's anti-Semitic comments (including posts that the chatbot described itself as “mechahitler”), Tesla is bringing the Grok to its vehicle.