Connect with us

Hi, what are you looking for?

Tech News

Tesla investors sue Elon Musk for launching a rival AI company

Illustration: Kristen Radtke / The Verge; Image: Getty Images

Several Tesla shareholders are accusing Elon Musk and the company’s board of knowingly diverting talent and resources away from the company and directing it toward Musk’s rival artificial intelligence company, xAI.

In a lawsuit, the shareholders allege that Musk and the board breached their fiduciary duty to Tesla by launching xAI, which was founded in 2023 on the premise of understanding “the true nature of the universe.”

The plaintiffs filed their lawsuit in Delaware, where the company is still incorporated, only hours before Tesla shareholders are set to vote on a proposal to reincorporate the company in Texas after a Delaware court judge voided Musk’s enormous pay package. The lawsuit was first reported by Business Insider and T…

Continue reading…

You May Also Like

Tech News

Rufino Choque, from the Urus Indigenous community, stands over a boat in the middle of the extinct Poopó Lake, which disappeared in 2015. |...

Politics

When word first broke that Joe Biden would be sitting down with Howard Stern for a live interview Friday on his SiriusXM show, it...

Editor's Pick

Paul Best Merry Oaks Baptist Church in Chatham County, North Carolina, near the site of a new VinFast factory. North Carolina officials announced a long sought‐​after...

Tech News

It’s not the Vita comeback we were hoping for, but the Sony’s portable remote player is still a handy companion. | Photo by Antonio...

Generated by Feedzy