Elon Musk compares the AI race to playing poker — you need to spend billions every year just to sit at the table

• Elon Musk compared the AI race to a poker game where you need to spend billions to stay competitive. 
• The billionaire said on X that Tesla would spend more than $500 million on Nvidia chips this year.
• But he warned staying competitive required spending "several billion dollars per year" on AI chips.

Elon Musk has compared the AI arms race to a high stakes game of poker, with companies needing to spend billions on AI hardware just to stay competitive.

The billionaire said that Tesla would spend more than $500 million on Nvidia AI chips alone in 2024 — but he warned that it would need "several billion dollars" worth of hardware just to keep up with its biggest rivals.