Summary
President Trump expressed his support for Elon Musk's companies, saying he wanted them to do well. This came after the White House mentioned Trump might not want Musk's AI business, xAI, to receive government contracts.
Key Facts
- President Trump stated he supports the success of Musk's companies.
- The White House initially suggested Trump did not favor giving government contracts to Musk's AI business, xAI.
- Trump communicated his support via a social media post on Truth Social.
- Trump's statement aimed to calm recent tensions with Musk.
- Although supportive, Tesla shares experienced a 9% drop after weak earnings and tax concerns.
- The situation may develop based on Musk's response to Trump's statements.
