Tesla has awarded its chief executive, Elon Musk, $29 billion in shares to retain him at the company, following a US court’s invalidation of his prior $50 billion pay package. This move aims to incentivize Musk to remain at Tesla as the "war for AI talent is intensifying" and the company pivots towards becoming an AI and robotics firm.

• Tesla granted CEO Elon Musk a $29 billion share award after a US court nullified his 2018 pay package.
• The decision comes as Tesla emphasizes the need to retain Musk amidst an intensifying "war for AI talent" and the company's shift towards AI and robotics.
• Tesla’s board expressed confidence that the award will motivate Musk, whose other commitments include executive roles at xAI, Neuralink, and The Boring Company, to stay with the company.