Overview

• Tesla confirmed it received multiple shareholder proposals on its plan to invest in Elon Musk’s AI startup xAI.
• Musk ruled out a full merger earlier in July but said he will put the xAI investment to a vote at the annual meeting.
• The board will include only one properly submitted proposal per topic in its proxy statement in line with SEC guidelines.
• Shareholders have until July 31 to submit proposals for inclusion in Tesla’s proxy ahead of the November 6 meeting.
• xAI has raised $5 billion in debt and $5 billion in equity this year and acquired social media platform X to train its Grok chatbot, which is now integrated into Tesla vehicles.