Musk may intervene, suggesting Trump adopt a more lenient alternative to Biden administration's AI executive order
According to Fortune magazine, with the dust settling on the U.S. election results, Musk's support for Trump, seen by outsiders as a high-stakes gamble, has yielded obvious immediate returns. It is reported that Musk may try to lobby Trump to abandon his opposition to Biden administration's policy of tax credits for electric vehicles and encourage the purchase of electric cars. After Trump delivered his victory speech, Tesla's stock price soared significantly. Investors expect that the Trump administration will stop federal investigations and law enforcement actions against Tesla, especially those related to its autonomous driving software.
In addition, relations between the Federal Aviation Administration (FAA) and SpaceX are very tense. In September, Musk asked FAA Administrator Michael Huerta to resign because SpaceX was fined $630,000 for violating rocket launch regulations. Musk stated that he plans under the Trump administration to establish a Department of Government Efficiency (DOGE), whose work plan includes relaxing regulation on its rocket launches. Trump himself also suggested using Starlink satellite services as part of a future government investment plan worth $42 billion in broadband infrastructure aimed at providing internet connectivity in rural areas - a potential financial boon for Starlink.
Musk’s generative artificial intelligence startup xAI owns a chatbot competing with OpenAI’s ChatGPT and other large language models; Musk might intervene suggesting an alternative more lenient than Biden administration’s AI executive order adopted by Trump . In California state , Musk supports controversial safety legislation SB 1047 which would impose restrictions on large AI companies; this legislation faced strong opposition from venture capitalists and major developers due to potentially catastrophic risks posed by AI.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
"Pudgy Penguins" market value falls out of the top three in NFT series market value rankings
The scale of Bitwise ETHW asset management has broken through 500 million US dollars