Tesla Shareholders Didn’t Approve of Investment in Musk’s xAI

A Tesla Inc. shareholder proposal for the board to authorize an investment in xAI wasn’t approved, clouding prospects for the Elon Musk -led carmaker to take a stake in his artificial intelligence startup.
The nonbinding measure garnered 1.06 billion votes in favor of authorization, exceeding the 916.3 million that were against, Tesla disclosed in a late Friday regulatory filing. However, more than 473 million votes abstained — more than twice the number for any other proposal on this year’s proxy.