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Tesla’s Elon Musk confirms he’ll stay CEO for at least five more years

Tesla CEO Elon Musk eased any speculation about his role with the company as he confirmed he would be with the automaker for at least five more years.

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tesla cybertruck
Tesla CEO Elon Musk unveils futuristic Cybertruck in Los Angeles, Nov. 21, 2019 (Photo: Teslarati)

Tesla’s Elon Musk said that he will still be CEO of the automaker in five years’ time, dispelling any potential skepticism regarding his commitment or plans with the company.

In the past, there was some speculation that Musk would leave Tesla if he was not adequately compensated for his work. He had a massive pay package taken from him by Delaware Judge Kathaleen McCormick in a move that caused Tesla to reincorporate its company in Texas.

Tesla Chair of the Board letter urges stockholders to approve Texas reincorporation

However, Musk confirmed today with a simple “Yes” that he would still be Tesla’s frontman in five years during an interview with Bloomberg at the Qatar Economic Forum:

“Do you see yourself and are you committed to still being the chief executive of Tesla in five years’ time?”

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“Yes.”

Musk has had the massive $56 billion pay package declined twice by Chancellor McCormick, who has ruled that the pay was an “unfathomable sum.” Shareholders have voted twice in overwhelming fashion to award Musk with the pay package, but she has overruled it twice. This seemed to be one reason Musk might minimize his role or even step away from Tesla.

He said (via Bloomberg):

“The compensation should match that something incredible was done. But I’m confident that whatever some activist posing as a judge in Delaware happens to do will not affect the future compensation.”

Musk’s commitment to Tesla for the next five years will help steer the company in a more stable direction as it begins to expand its market well past automotive and sustainable energy. Although Tesla has been labeled as an AI company, it is also starting to push more into the robotics industry with the future release of the Optimus robot.

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Now that Musk is on board for at least five more years, Tesla investors have their frontman, who has remained firm on the company’s vision to be a true disruptor in all things tech. The company’s stock is trading up just over 1 percent at the time of publication.

Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at joey@teslarati.com. He is also on X @KlenderJoey. If you're looking for great Tesla accessories, check out shop.teslarati.com

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Elon Musk

xAI’s Grok 3 partners with Oracle Cloud for corporate AI innovation  

Elon Musk’s xAI partners with Oracle to deliver Grok 3 to enterprise users via OCI. The move boosts Grok’s reach.

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Credit: Elon Musk | X

xAI’s Grok 3 is partnering with Oracle Cloud to deliver its advanced AI model to corporate customers.

Oracle announced its collaboration with xAI earlier this week. The partnership leverages Oracle’s robust infrastructure to offer xAI’s Grok 3, positioning it as a transformative tool for business applications.

“Today, we announced xAI has selected Oracle to offer xAI’s Grok models via OCI Generative AI service for a wide range of use cases and will use OCI’s leading AI infrastructure to train and run inferencing for its next-generation Grok models,” said Clay Magouyrk, Executive Vice President at Oracle Cloud Infrastructure, via LinkedIn.

Oracle’s cost-effective AI capabilities will support xAI’s demanding workloads, enabling faster processing for enterprise users.

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Oracle’s Karan Batta told Reuters: “Our goal here is to make sure that we can provide a portfolio of models – we don’t have our own.” Oracle will host Grok 3 alongside models from Meta, Mistral, and Cohere, ensuring corporate data remains secure within existing Oracle protections.

Oracle’s strategy focuses on integrating popular AI models into corporate software, and xAI’s Grok 3 enhances this portfolio. The collaboration expands Grok’s reach to businesses seeking secure, high-performance AI solutions for diverse use cases.

Elon Musk’s xAI launched Grok 3 in February. It competes with models from DeepSeek and OpenAI. Grok 3 is free for all X users, but features are limited. X offers Premium and Premium+ subscribers access to Grok 3’s advanced capabilities like DeepResearch and Think modes. Users who are not paid subscribers have access to Grok 3’s basic features.

Elon Musk’s companies have a longstanding relationship with Oracle. In 2018, Tesla appointed Oracle founder Larry Ellison to its board, a move Wedbush analyst Daniel Ives called a “home run appointment.”

In 2023, Ellison–who is no longer on Tesla’s board but still close with Musk–revealed plans for a Tesla Cybertruck police car.

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“Our next-generation police car is coming out very soon,” Ellison said at the 2023 Oracle CloudWorld conference in Las Vegas. “It’s my favorite police car. It’s my favorite car, actually. It’s Elon’s favorite car.”

Grok 3’s integration into Oracle Cloud strengthens xAI’s position in the corporate artificial intelligence market. By combining Oracle’s infrastructure with Grok’s cutting-edge capabilities, this collaboration could redefine enterprise AI adoption, driving innovation across industries.

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Tesla Robotaxis are becoming a common sight on Austin’s public roads

Tesla Robotaxi sightings are becoming much more frequent ahead of its launch planned for this month.

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Credit: @Muzeishen | X

Tesla Robotaxis are becoming a common sight on the public roads of Austin, Texas, as yet another test mule has been spotted near the company’s target launch date.

Just over a week ago, the first public sighting of a driverless Tesla Robotaxi was reported. The vehicle was an updated version of the Tesla Model Y, which will be the initial model used in the public deployment of the Robotaxi platform.

Throughout the past week, sightings have been more common, as people in Austin have been looking for the unique decal Tesla is placing on car doors to recognize the driverless vehicles (After all, Robotaxis are not as easy to recognize as driverless vehicles without the LIDAR unit on the roof like Waymo).

Yet another sighting of a Robotaxi was shared on social media today, just two days before CEO Elon Musk’s proposed launch date of June 22:

It is easy to tell that there is nobody in the driver’s seat of this vehicle. Tesla is using its white interior on this particular mule, making it incredibly simple to recognize that no human is controlling the car.

Whether Tesla will still meet the June 22nd deadline remains to be seen, but it is no secret that the company is prioritizing safety ahead of offering public rides.

Tesla will initially roll out the Robotaxi platform in Austin, but it has already started the regulatory process in other areas, specifically California.

The National Highway Traffic Safety Administration (NHTSA) is also helping to streamline the process for companies developing driverless vehicles by giving exemptions to automakers. It will make things much more efficient, benefiting Tesla and other car companies that have similar plans.

Tesla Robotaxi just got a big benefit from the U.S. government

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Elon Musk teases Tesla Optimus Gen 3 capabilities: ‘So many improvements’

If you thought Optimus Gen 2 was impressive, Tesla might have a surprise for you.

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Credit: Tesla Optimus | X

Elon Musk has teased that huge improvements are coming to Tesla’s Optimus humanoid robot, which is arguably the product that the company is developing with the most potential for everyday use by consumers and valuation increases from a financial perspective.

Optimus is still in the development stages, but Tesla has made great strides in its development over the past several years. It started as a simple idea that was unveiled with a human being in a spandex suit.

Tesla posts Optimus’ most impressive video demonstration yet

Just a few years later, Tesla has developed several humanoid robot prototypes that have made their way to influencers and have lent a helping hand around the company’s manufacturing facilities.

Tesla has already introduced two generations of Optimus, as the most recent release featured a vast number of improvements from the initial version.

The following is a list of things Tesla improved upon with Optimus Gen 2 compared to Gen 1:

  • Tesla introduced a weight reduction of roughly 22 pounds, improving efficiency and agility
  • Optimus Gen 2 had a walking speed that improved by 30 percent over Gen 1
  • Tesla developed more capable hands that had 22 degrees of freedom, double that of Gen 1. This improved object handling
  • Optimus Gen 2 had a 2-degree-of-freedom neck, as Gen 1’s was fixed
  • Tesla integrated actuators and sensors for better performance. This includes things like foot force/torque sensing, articulated toe sections that are close to human foot geometry for better balance and movement
  • Optimus Gen 2 has 28 degrees of overall freedom, improving flexibility from the first generation
  • Tesla’s Optimus Gen 2 can do more than Gen 1, and has shown improved motor control and precision, doing things like squats, yoga poses, dancing, and even poaching an egg

These changes essentially brought Tesla closer to what will be the Optimus version that makes it to production. The company has plans to start production for the public in 2026, but some units will be manufactured for internal use within its factories as soon as this year. Tesla has said it could scale to 100,000 units or more by next year.

Musk also revealed to Teslarati recently that the company is in the process of building the production line that will bring manufacturing rates of Optimus to that level.

However, there is another design of Optimus coming, and Musk says it will feature “so many improvements”:

Tesla has said that Optimus will have the capability to perform tedious and time-consuming tasks like folding laundry, babysitting, cooking, walking the dog, and plenty of other things. However, it will be super impressive to see it do things that require true coordination, like threading a needle, for example.

Musk did not hint toward any specific developments that Tesla will aim for with Optimus Gen 3, but the sky is the limit, especially as it will be performing some manufacturing tasks across its factories.

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