Micron Technology (MU) briefly moved ahead of Meta Platforms (META) and Tesla (TSLA) in market capitalization on Thursday, after a strong outlook from the memory chipmaker extended its rally driven by artificial intelligence demand. Micron's shares had surged 18.4% at $1,236, giving the company a market value of $1.398 trillion.
The Trump administration's Department of Transportation (DOT) has proposed new changes to federal vehicle regulations that would allow companies to skip including brake pedals in “vehicles designed to be driven exclusively by automated driving systems.”
Tesla shares TSLA remained under pressure on Wednesday as investors looked ahead to the electric vehicle maker's second-quarter delivery report while increasingly focusing on speculation surrounding a potential merger with SpaceX. Tesla stock fell 1.8% to $374.69 after declining 5.8% in the previous session.
Sunrun, a provider of home battery storage, is working with Tesla to meet the energy needs of AI data centers.
At $381.61, Tesla (NASDAQ:TSLA | TSLA Price Prediction) looks vulnerable, with a credible path toward the $190 historical manufacturing support zone as tech multiples compress and global EV pricing grinds margins lower.
Shares of Tesla Inc. NASDAQ: TSLA are down about 15% from the May high and are starting to take a shape that investors won't want to see. The broader narrative around the company has been getting more interesting by the month, from the Wall Street hype around the company's full self-driving (FSD) and robotaxi projects to the increasingly serious conversation about a Tesla and SpaceX NASDAQ: SPCX merger.
The National Transportation Safety Board has opened an investigation into a crash that happened over the weekend in Texas, in which a driver slammed into a home in Katy, Texas, killing a resident.
TSLA's safety probe adds pressure, but energy growth, improving overseas deliveries, and FSD approvals may make selling the stock premature.
Tesla stock has declined since SpaceX debuted. EV deliveries could be a catalyst for shares of the electric-vehicle maker.
The family of a woman killed when a Tesla crashed into her home, allegedly while in self-driving mode, is suing Elon Musk's company and the driver.
Uber is quietly writing $500 million checks to lock in robotaxis as Waymo threatens to leave it behind.
Elon Musk is no longer a trillionaire after sharp declines in SpaceX and Tesla shares wiped out more than $150 billion from his fortune and dragged his net worth below the $1 trillion mark. According to Bloomberg's Billionaires Index, Musk's wealth stood at $957 billion on Wednesday, down from the historic milestone he crossed earlier this month after SpaceX's blockbuster initial public offering propelled him into the trillionaire club.