Tesla Reportedly Receives Clearance For Turning xAI Investment Into SpaceX Stake

Bloomberg reported the update on Thursday, citing a filing with the US Federal Trade Commission which lists Tesla as an acquirer of a stake in Tesla CEO Elon Musk’s rocket manufacturer company SpaceX.

• The filings follow Tesla announcing a $2 billion investment in Musk’s AI startup xAI.
• xAI recently merged with SpaceX and Tesla would now have a stake of less than 1% in the combined entity. 
• Separately, Financial Times reported on Thursday that Tesla has been granted a licence to supply electricity to UK households and businesses, marking a major win for the company’s energy business.

EV giant Tesla Inc. (TSLA) has reportedly received necessary government clearance to convert its investment in Elon Musk’s xAI into a small stake in SpaceX.

Bloomberg reported the update on Thursday, citing a filing with the U.S. Federal Trade Commission, which lists Tesla as an acquirer of a stake in CEO Elon Musk’s rocket manufacturer company SpaceX.

Musk also reportedly sold holdings to investors, including Valor Equity Partners and DFJ Growth, as per the report, which further noted that details including the size of the stakes weren’t disclosed.

The filings follow Tesla announcing a $2 billion investment in Musk’s AI startup xAI. xAI recently merged with SpaceX, and Tesla would now have a stake of less than 1% in the combined entity. SpaceX is expected to have an initial public offering this year, which is estimated to be the largest in history.

Other Tesla Updates

Separately, Financial Times reported on Thursday that Tesla has been granted a licence to supply electricity to UK households and businesses, marking a major win for the company’s growing energy generation and storage business.

Wall Street Journal also reported earlier in the day that the company is designing the production line for its dedicated robotaxi offering called the Cybercab to make hundreds of the two-seat vehicle a week. The Cybercab has no pedals and no steering wheel, making it necessary for the company to file for certain exemptions to launch it. However, Tesla hasn’t made any such applications yet, the report said.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around TSLA stock stayed within the ‘extremely bullish’ territory over the past 24 hours, while message volume remained at ‘high’ levels.

TSLA stock has gained nearly 60% over the past 12 months. 

For updates and corrections, email newsroom[at]stocktwits[dot]com.<