Elon Musk Refutes Reports Of xAI Negotiating Revenue Share Deal With Tesla: 'There Is No Need To License Anything'
Portfolio Pulse from Anan Ashraf
Elon Musk denied reports of a revenue-sharing deal between Tesla and his AI startup xAI. He stated that Tesla has benefited from discussions with xAI engineers but does not need to license xAI's technology. The Wall Street Journal had reported potential licensing and revenue-sharing agreements between the two companies.
September 09, 2024 | 8:06 am
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Elon Musk refuted claims of a revenue-sharing deal between Tesla and xAI, emphasizing that Tesla does not need to license xAI's technology. This clarification may stabilize Tesla's stock by dispelling rumors of financial commitments to xAI.
The denial of a revenue-sharing deal with xAI suggests no immediate financial impact on Tesla, which could stabilize investor sentiment. The clarification helps dispel rumors that might have caused uncertainty about Tesla's financial commitments.
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