True Nature of the Universe


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. 

They [plaintiffs] note that, for years, Musk has sought to position Tesla not as a car company but as a robotics and AI powerhouse. The claim helped propel Tesla’s stock price, resulting in the company’s value exceeding that of top automakers combined.

All the while, Musk was “diverting scarce talent and resources from Tesla to xAI, and raised billons (sic) of dollars for xAI while touting xAI’s access to Tesla’s AI-related data,” the lawsuit reads. 

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