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Here's your morning TNB Tech Minute for Monday, August 4th.

I'm Arianna Aspuru for the Wall Street Journal.

Tesla's board has approved a stock award for its CEO Elon Musk.

It's tentatively valued at $23.7 billion, which he can claim in two years.

The award vests if Musk remains CEO or in an executive role overseeing product development,

according to a securities filing. Musk has said that his willingness to run Tesla for the next

five years depends on his ability to have greater

control of the company. In a recent interview, he said he wanted enough voting power that he

couldn't be, quote, ousted by activist investors. He won't receive the award if Tesla wins its

case against the Delaware Supreme Court, appealing an earlier decision that invalidated Musk's $50 billion

$2018 pay package. Elsewhere, Taiwanese contract manufacturer Foxcon will convert a former

electric truck factory in Lourdes Town, Ohio, into a plant making cloud computing hardware

for artificial intelligence applications.

That's according to people familiar with the plans.

The move is a symbol of President Trump's focus on boosting U.S. manufacturing of AI equipment,

such as computers and chips, as well as the construction of data centers to perform AI tasks.

And it comes after Trump's budget bill ended subsidies for electric

vehicles. And finally, Joby Aviation has agreed to acquire Blade Air Mobility's passenger division

for up to $125 million. Blade is a New York-based air transportation and logistics company.

...