A sale of insider shares at $421 a share would make Mr. Musk’s rocket company the most valuable private company in the world, as it readies for a possible initial public offering next year.
Mr. Musk’s xAI will work with the Saudi artificial intelligence company Humain on a new data center, part of Crown Prince Mohammed bin Salman’s effort to diversify his kingdom’s economy.
Elon Musk and Crown Prince Mohammed bin Salman of Saudi Arabia in Washington on Wednesday. The deal between xAI and the Saudi-backed company Humain is set to be xAI’s biggest data center outside the United States.
Tesla shareholders approved a plan to grant Elon Musk shares worth nearly $1 trillion if he meets ambitious goals, including vastly expanding the company’s stock market valuation.
The nomination of the billionaire entrepreneur, private astronaut and Elon Musk ally was before the floor of the Senate when the president abruptly withdrew it in June.
President Trump abruptly yanked his earlier nomination of Jared Isaacman because he was upset that Mr. Isaacman had contributed to the campaigns of some Democrats.
Mr. Musk’s supporters say he may quit if shareholders don’t approve a trillion-dollar package. Some investors say it’s excessive and would give him too much sway.
Tesla sales in the third quarter were helped by shoppers who took advantage of a federal tax credit on electric vehicles before it expired in September.
Drivers will be able to converse with an artificial intelligence assistant while cars largely drive themselves in certain situations, the company said.
Blue Origin, owned by Jeff Bezos, and Lockheed Martin are among the contractors that may compete with Elon Musk’s company in the race back to the lunar surface.
The justices on the State Supreme Court heard arguments in a long dispute about whether the Tesla chief executive’s compensation was fair to shareholders.
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