Tesla boss Elon Musk has simply gained shareholder approval for what might be the most important pay package deal within the firm’s historical past, an eye-watering $878 billion (820 billion euros) deal over 10 years.
The vote was taken on the firm’s annual assembly in Austin, Texas, with about three-quarters of traders supporting the plan. Nevertheless, an enormous payout is just not a easy money bonus. Musk will obtain the total quantity provided that Tesla achieves some very bold targets, together with delivering 20 million automobiles, launching 1 million robotaxis, promoting 1 million humanoid robots, and reaching a complete market worth of $8.5 trillion.
Supporters say the deal is a manner for Mr. Musk to deal with Tesla’s subsequent huge step, transferring deeper into AI, robotics and self-driving know-how. However critics say the quantity is so giant that it raises questions on equity and whether or not it’s attainable to attain such a monumental aim. One observer commented, “Placing such a excessive price ticket on these targets raises questions not solely about competitors but additionally about ethics. I fear that Musk and his staff will get so blinded by greenback indicators that they neglect their obligation to guard employees, clients, and traders.”
Tesla focuses on its AI chip manufacturing facility
The choice comes simply as Mr. Musk unveiled one other huge concept for the corporate’s future: plans to construct a “mega AI chip fab,” or semiconductor manufacturing facility, to supply superior laptop chips for Tesla’s next-generation self-driving vehicles and robots.
Talking on the identical occasion, he casually talked about that American know-how large Intel could also be concerned within the undertaking, though no deal has but been confirmed. Nonetheless, Intel’s inventory value rose on this information alone as traders reacted to the prospect of working with one of many world’s most influential technologists.
Robots, actuality, and the way in which ahead
The deal is a reminder that Tesla is critical about its transition from an electrical automotive maker to a frontrunner in synthetic intelligence and robotics. And past Musk’s large paycheck, this information reveals how the once-futuristic world of AI and robotics is quickly changing into a actuality, shaping the following wave of labor, business, and day by day life.