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Morgan Stanley: Elon Musk’s Tesla and xAI To Collectively Spend A Whopping $20 Billion On AI Projects In 2024 Alone

NewsTech

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Elon Musk Tesla xAI

Tesla is slated to spend the entire market capitalization of Rivian and Lucid Group, that too on a combined basis, on AI by the end of this year, as per a tabulation by Morgan Stanley's Adam Jonas. What's more, when one includes the roughly $10 billion in AI-related expenditure by xAI, it become patently evident that Elon Musk is banking on a prolific spending spree to capture a near-apex position in this emerging, century-shaping paradigm shift. Morgan Stanley's Adam Jonas on Elon Musk's AI spending: "The Muskonomy is spending the market caps of RIVN and LCID combined, on Al, this […]

Read full article at https://wccftech.com/morgan-stanley-elon-musk-tesla-and-xai-to-collectively-spend-a-whopping-20-billion-on-ai-projects-in-2024-alone/

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