Musk Demands 25% Voting Control In Tesla For More AI Development

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Author

Adam Smith
January 19, 2024

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Coming up this week:

- Tesla: Musk Wants More Control.
- Rabbit AI: Sells 20,000 Units.
- DeepMind: Solves Olympiad-Level Problems.
- OpenAI: Non-Profit Questions.

And much more… Learn how these unfolding narratives are shaping The Business of AI.

FEATURED STORY 🔥

Musk Demands 25% Voting Control In Tesla For More AI Development

Elon Musk, Tesla Inc.'s largest shareholder, is advocating for approximately 25% voting control in the company, a significant increase from his current nearly 13% stake. This move follows his sale of almost $40 billion in Tesla shares in 2022 to finance the Twitter acquisition. Musk's demand coincides with Tesla's challenging phase, marked by a $94 billion market value drop and slowing growth. Despite these challenges, Tesla's market capitalization has grown significantly since January 2018.

Musk's focus is on ensuring adequate voting influence at Tesla, especially as he navigates a delicate period with the company's board. The situation is further complicated by a Delaware Chancery Court case questioning Tesla's board independence in relation to Musk's $55 billion performance award in 2018.

Amidst these developments, Musk has expressed his discomfort with Tesla's growth in AI and robotics, despite previously touting the company's leadership in these areas. His recent venture, xAI, aims to rival major AI players, raising questions about Tesla's identity as a car, energy, or AI company. This strategic shift and Musk's assertive approach are pivotal in shaping Tesla's future direction in the rapidly evolving tech landscape.

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Poll Of The Week 💗 

Do you think Elon Musk is over-leveraged and in financial trouble? Hence the Tesla play for more voting shares?

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Last week’s poll results:

Are you planning to create and sell GPT's in the new store?

🟩🟩🟩🟩🟩🟩 Yes

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TRENDING STORIES 🔥 

Rabbit R1's Rapid Sell-Out at CES

Photo by David Pierce / The Verge

The pocket-sized AI gadget quickly sold out its first two batches of 10,000 units each following its debut at CES 2024. The device, featuring a 2.88-inch touchscreen and Rabbit OS, acts as a universal app controller, streamlining tasks like playing music and sending messages. A third batch is now available for preorder.

DeepMind’s AI Leap in Mathematical Reasoning

AlphaGeometry, an AI system by DeepMind, has demonstrated remarkable capabilities in solving complex geometry problems, matching the performance of human Olympiad gold medalists. It successfully solved 25 out of 30 Olympiad-level problems, surpassing previous AI systems and showcasing advanced AI reasoning in mathematics.

Scrutiny Over OpenAI's Non-Profit Operations

Public Citizen has urged California's Attorney General to investigate OpenAI's non-profit status, amid concerns that it may be prioritizing profit through its for-profit subsidiary. This inquiry could lead to OpenAI's dissolution and redistribution of assets for charitable purposes, following California law.

Image Of The Week 📷️ 

Prompt: Bill Gates as a GTA V character –ar 3:2

Prompt: Santa getting really drunk at a huge college party with a neon beer sign in the background that says “Run The Prompts”.

Prompt: A brown Rhodesian ridgeback boxer mix with a white spot on his stomach in the Arizona desert with a cowboy hat on, day glo, 4k, neon lighting, dark background, calm mood, vibrant colors

For the last few weeks, we have been exploring V6 of MidJourney. I found this awesome article that compares various prompts against the older V5.2 version. See more examples here.

EYE OPENING NEWS 🧠 

AMIE: Medical Diagnostics with AI

Google Research introduces AMIE, an AI system optimized for diagnostic medical reasoning and conversations. AMIE, trained on diverse datasets, excels in simulated patient consultations, demonstrating diagnostic capabilities comparable to primary care physicians, marking a significant advancement in AI-assisted medical diagnostics.

Expanding AI Tools: Microsoft's New Copilot Pro Plan

Microsoft launches Copilot Pro, a $20/month consumer plan offering advanced AI features in Microsoft 365 apps. This move aims to enhance user experience and generate revenue, reflecting Microsoft's commitment to integrating AI into mainstream productivity tools.

Galaxy S24 Series: Samsung's AI-Powered Mobile Revolution

Samsung unveils the Galaxy S24 series, integrating advanced Galaxy AI to enhance communication, creativity, and search experiences. This new series marks a significant leap in mobile technology, offering users innovative AI features for a more intuitive and efficient smartphone experience.

Microsoft's AI Banner Ad Creation

Microsoft introduces Retail Media Creative Studio, an AI-powered tool that swiftly generates banner ads using a product's URL. This innovative solution streamlines the ad creation process, enhances campaign efficiency, and utilizes AI for real-time optimization, significantly impacting digital advertising strategies.

Audio Editing in Adobe Premiere Pro

Adobe announces new audio editing features in Premiere Pro, making the process faster, easier, and more intuitive. These innovations include interactive fade handles, AI-powered audio category tagging, and an upcoming Enhance Speech tool, significantly enhancing the audio editing experience for both professionals and newcomers.

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FUNDRAISING 🤑 

Sakana AI: $30M Funding for Nature-Inspired AI

Sakana AI, a Tokyo-based company, has successfully raised $30M in a seed funding round led by Lux Capital and Khosla Ventures. This investment will fuel their development of transformative, nature-inspired AI, marking a significant milestone in Japan's AI industry and attracting global attention.

Ask-AI: $11M for Enterprise AI Assistant

Ask-AI has raised $11 million in Series A funding to develop its Generative AI assistant, ASK, designed to enhance enterprise workflows. This funding, led by Leaders Fund and supported by other investors, will boost efficiency in tasks and knowledge management, transforming how businesses interact with customers.

1X: Robotic Breakthrough with $100M Funding

1X Technologies, a Norwegian robotics startup, has secured $100 million in Series B funding, led by EQT Ventures and Samsung. This investment will advance their AI androids, including the enterprise-focused Eve and the domestic helper Neo, enhancing human-robot collaboration and transforming labor-intensive tasks.

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