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Elon Musk, CEO of SpaceX and Tesla, attends the Viva Technology conference at the Porte de Versailles exhibition center in Paris on June 16, 2023.

Gonzalo Fuentes | Reuters

Tesla is expected to announce on Thursday the results of a shareholder vote determining whether CEO Elon Musk should receive a pay package of nearly $1 trillion worth of stock over the next decade.

There’s little mystery to the outcome.

The electric vehicle company has suggested that shareholders approve the plan. Between Musk’s substantial ownership and a hefty base of retail investors who almost always vote with the CEO, the numbers are difficult for the opposition, even though top proxy advisors Glass Lewis and ISS recommended voting against the package.

Results of the vote are expected to be shared after Tesla’s annual meeting in Austin, Texas.

Board Chair Robyn Denholm, and other Musk fans, have argued that the outsized pay plan would keep Musk at the helm of the company, and that he’s critical to Tesla’s future and its ability to compete in robotics and artificial intelligence.

Baron Capital’s Ron Baron said in a lengthy post on X, Musk’s social network, that he’s supporting the Tesla CEO.

“Elon is the ultimate ‘key man’ of key man risk,” Baron wrote. “Without his relentless drive and uncompromising standards, there would be no Tesla.”

Ron Baron on Elon Musk: I'd hope that he would be 'a little less visible'

But there are some vocal opponents. Norway’s $2 trillion sovereign wealth fund, managed by Norges Bank Investment Management (NBIM), said it would vote no. Norges is one of Tesla’s top shareholders.

“While we appreciate the significant value created under Mr. Musk’s visionary role, we are concerned about the total size of the award, dilution, and lack of mitigation of key person risk — consistent with our views on executive compensation,” NBIM said in a statement this week.

Shareholder advocate and governance expert James McRitchie, who drives a Tesla, is also opposing the plan. The company needs to address a number of risks, he said, especially around demand and profitability with the sunsetting of federal EV tax credits that have long incentivized purchases.

“Tesla has all these fanboys. So many retail investors bought the stock because they love the cars,” McRitchie said. “There’s a lot to love there, but you should also pay attention to the finances and risks.”

Tesla shares are up 14% this year after a steep third-quarter rally lifted the stock into the green following a brutal start to 2025. Musk’s purchase of $1 billion worth of stock aided the rebound.

‘Robot army’

Tesla introduced the new pay plan in September. The package for Musk, already the world’s richest person, consists of 12 tranches of shares to be granted if Tesla hits certain milestones over the next decade. It would also give Musk increased voting power over the company, acceding to demands that he’s made publicly since early 2024.

“If we build this robot army, do I have at least a strong influence over that robot army?” Musk said to analysts on the company’s third-quarter earnings call last month. “I don’t feel comfortable building that robot army if I don’t have at least a strong influence.”

The full award would give Musk, who holds about 13% of the EV maker, more than 423 million additional shares and take his stake to about 25%.

Musk would receive the first tranche of stock if Tesla hits a market capitalization of $2 trillion. Tesla’s current market cap is $1.54 trillion.

The next nine tranches would be awarded if Tesla’s value increases by increments of $500 billion, up to $6.5 trillion. Musk would earn the last two tranches if the market cap rises by increments of $1 trillion, meaning it would need to hit $8.5 trillion for Musk to get the full package.

Other goals tied to the pay plan include reaching 20 million vehicle deliveries, 10 million active FSD subscriptions​, 1 million bots delivered and​ 1 million robotaxis in commercial operation. To date, Tesla has delivered more than 8 million vehicles, according to its September proxy statement.

The proposed plan doesn’t specify whether the FSD subscriptions must be purchased or could include free trials. Tesla currently provides partially automated driving systems, which it markets as “FSD Supervised” in the U.S. The company intends to improve its FSD Supervised systems so they don’t require human supervision on board.

Tesla also laid out a series of earnings milestones, beginning with $50 billion in annual adjusted profit and moving up to $400 billion. In the third quarter, Tesla reported adjusted EBITDA of $4.2 billion.

Elon Musk is going to get his $1T pay package passed, says Big Technology's Alex Kantrowitz

As Reuters previously reported, Musk could still score tens of billions of dollars without meeting most of the targets laid out for him by the board, collecting more than $50 billion just by hitting a handful of the more attainable goals.

There are also a list of “covered events” in the award terms that would allow Musk to earn shares without meeting the required operational milestones.

Covered events include natural disasters, wars, pandemics, and changes to “international, federal, state and local law, regulations or other governmental action or inaction,” that could hamper the company’s ability to design, manufacture or sell its products down the line.

There are other benefits to Musk.

The pay plan doesn’t require him to dedicate a minimum amount of time to Tesla, nor does it at all limit his involvement in politics.

In addition to leading Tesla, Musk runs xAI which has merged with X, leads SpaceX and its satellite internet business Starlink, and is a founder of brain computer interface company Neuralink and tunneling venture The Boring Company.

He’s also been heavily engaged in politics, most notably working to propel President Donald Trump back to the White House, and then leading a sweeping effort to slash the federal government at the beginning of his second term.

The National Bureau of Economic Research published a paper last month estimating that Tesla sales from October 2022 through April of this year in the U.S. would have been 67% to 83% higher without Musk’s “polarizing and partisan actions.”

Shareholders are voting on the plan after the Delaware Court of Chancery ruled last year that Musk’s earlier 2018 pay plan was improperly granted by the Tesla board and must be rescinded.

Nell Minow, a corporate governance expert and chair of ValueEdge Advisors, said she would vote against the new pay plan for Musk, describing him as a “part-time CEO” today.

“If they said we’re going to pay him a trillion dollars, but he’s going to give up all of his outside activities, he’s going to shut up about politics, and really spend all this time making this a great company, then I’d say, OK, let’s talk about it,” Minow said. “But he’s not doing any of those things.”

WATCH: CNBC’s interview with Tesla Chair Robyn Denholm

Tesla Board Chair Robyn Denholm: The technology of AI is truly transformative

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Week in review: The Nasdaq’s worst week since April, three trades, and earnings

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Week in review: The Nasdaq's worst week since April, three trades, and earnings

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Too early to bet against AI trade, State Street suggests 

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Too early to bet against AI trade, State Street suggests 

Momentum and private assets: The trends driving ETFs to record inflows

State Street is reiterating its bullish stance on the artificial intelligence trade despite the Nasdaq’s worst week since April.

Chief Business Officer Anna Paglia said momentum stocks still have legs because investors are reluctant to step away from the growth story that’s driven gains all year.

“How would you not want to participate in the growth of AI technology? Everybody has been waiting for the cycle to change from growth to value. I don’t think it’s happening just yet because of the momentum,” Paglia told CNBC’s “ETF Edge” earlier this week. “I don’t think the rebalancing trade is going to happen until we see a signal from the market indicating a slowdown in these big trends.”

Paglia, who has spent 25 years in the exchange-traded funds industry, sees a higher likelihood that the space will cool off early next year.

“There will be much more focus about the diversification,” she said.

Her firm manages several ETFs with exposure to the technology sector, including the SPDR NYSE Technology ETF, which has gained 38% so far this year as of Friday’s close.

The fund, however, pulled back more than 4% over the past week as investors took profits in AI-linked names. The fund’s second top holding as of Friday’s close is Palantir Technologies, according to State Street’s website. Its stock tumbled more than 11% this week after the company’s earnings report on Monday.

Despite the decline, Paglia reaffirmed her bullish tech view in a statement to CNBC later in the week.

Meanwhile, Todd Rosenbluth suggests a rotation is already starting to grip the market. He points to a renewed appetite for health-care stocks.

“The Health Care Select Sector SPDR Fund… which has been out of favor for much of the year, started a return to favor in October,” the firm’s head of research said in the same interview. “Health care tends to be a more defensive sector, so we’re watching to see if people continue to gravitate towards that as a way of diversifying away from some of those sectors like technology.”

The Health Care Select Sector SPDR Fund, which has been underperforming technology sector this year, is up 5% since Oct. 1. It was also the second-best performing S&P 500 group this week.

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People with ADHD, autism, dyslexia say AI agents are helping them succeed at work

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People with ADHD, autism, dyslexia say AI agents are helping them succeed at work

Neurodiverse professionals may see unique benefits from artificial intelligence tools and agents, research suggests. With AI agent creation booming in 2025, people with conditions like ADHD, autism, dyslexia and more report a more level playing field in the workplace thanks to generative AI.

A recent study from the UK’s Department for Business and Trade found that neurodiverse workers were 25% more satisfied with AI assistants and were more likely to recommend the tool than neurotypical respondents.

“Standing up and walking around during a meeting means that I’m not taking notes, but now AI can come in and synthesize the entire meeting into a transcript and pick out the top-level themes,” said Tara DeZao, senior director of product marketing at enterprise low-code platform provider Pega. DeZao, who was diagnosed with ADHD as an adult, has combination-type ADHD, which includes both inattentive symptoms (time management and executive function issues) and hyperactive symptoms (increased movement).

“I’ve white-knuckled my way through the business world,” DeZao said. “But these tools help so much.”

AI tools in the workplace run the gamut and can have hyper-specific use cases, but solutions like note takers, schedule assistants and in-house communication support are common. Generative AI happens to be particularly adept at skills like communication, time management and executive functioning, creating a built-in benefit for neurodiverse workers who’ve previously had to find ways to fit in among a work culture not built with them in mind.

Because of the skills that neurodiverse individuals can bring to the workplace — hyperfocus, creativity, empathy and niche expertise, just to name a few — some research suggests that organizations prioritizing inclusivity in this space generate nearly one-fifth higher revenue.

AI ethics and neurodiverse workers

“Investing in ethical guardrails, like those that protect and aid neurodivergent workers, is not just the right thing to do,” said Kristi Boyd, an AI specialist with the SAS data ethics practice. “It’s a smart way to make good on your organization’s AI investments.”

Boyd referred to an SAS study which found that companies investing the most in AI governance and guardrails were 1.6 times more likely to see at least double ROI on their AI investments. But Boyd highlighted three risks that companies should be aware of when implementing AI tools with neurodiverse and other individuals in mind: competing needs, unconscious bias and inappropriate disclosure.

“Different neurodiverse conditions may have conflicting needs,” Boyd said. For example, while people with dyslexia may benefit from document readers, people with bipolar disorder or other mental health neurodivergences may benefit from AI-supported scheduling to make the most of productive periods. “By acknowledging these tensions upfront, organizations can create layered accommodations or offer choice-based frameworks that balance competing needs while promoting equity and inclusion,” she explained.

Regarding AI’s unconscious biases, algorithms can (and have been) unintentionally taught to associate neurodivergence with danger, disease or negativity, as outlined in Duke University research. And even today, neurodiversity can still be met with workplace discrimination, making it important for companies to provide safe ways to use these tools without having to unwillingly publicize any individual worker diagnosis.

‘Like somebody turned on the light’

As businesses take accountability for the impact of AI tools in the workplace, Boyd says it’s important to remember to include diverse voices at all stages, implement regular audits and establish safe ways for employees to anonymously report issues.

The work to make AI deployment more equitable, including for neurodivergent people, is just getting started. The nonprofit Humane Intelligence, which focuses on deploying AI for social good, released in early October its Bias Bounty Challenge, where participants can identify biases with the goal of building “more inclusive communication platforms — especially for users with cognitive differences, sensory sensitivities or alternative communication styles.”

For example, emotion AI (when AI identifies human emotions) can help people with difficulty identifying emotions make sense of their meeting partners on video conferencing platforms like Zoom. Still, this technology requires careful attention to bias by ensuring AI agents recognize diverse communication patterns fairly and accurately, rather than embedding harmful assumptions.

DeZao said her ADHD diagnosis felt like “somebody turned on the light in a very, very dark room.”

“One of the most difficult pieces of our hyper-connected, fast world is that we’re all expected to multitask. With my form of ADHD, it’s almost impossible to multitask,” she said.

DeZao says one of AI’s most helpful features is its ability to receive instructions and do its work while the human employee can remain focused on the task at hand. “If I’m working on something and then a new request comes in over Slack or Teams, it just completely knocks me off my thought process,” she said. “Being able to take that request and then outsource it real quick and have it worked on while I continue to work [on my original task] has been a godsend.”

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