Elon Musk on Monday said he does not support a merger between xAI and Tesla. On X, Musk suggested that Tesla plans to ask shareholders whether Tesla should invest in xAI, however.
Billionaire Elon Musk said in a Monday post on X he does not support a merger between Tesla and his artificial intelligence startup xAI.
Analysts at J.P. Morgan are bearish on several high-profile stocks.
Elon Musk said Tesla will hold a shareholder vote on whether to invest in xAI. Musk said in March that xAI was valued at $80 billion.
Tesla investors have to follow what's going on at CEO Elon Musk's other companies. as Musk, himself, is a fundamental factor to be tracked.
Tesla's current valuation isn't justified by traditional metrics, but its potential as an AI, robotics, and energy company is unmatched. The robotaxi and autonomous vehicle market could drive Tesla's valuation to $900B alone, thanks to its vertically integrated stack and cost advantages. Optimus robotics and other moonshot projects could add $300B+ in value, with further upside from energy, insurance, and software businesses.
Tesla's valuation is now primarily driven by its robotaxi and humanoid robotics ambitions, not near-term automotive delivery growth/decline. Despite recent deliveries disappointment and renewed political fallout with Trump, investor sentiment has remained remarkably robust. The market is starting to price in significant operating income potential from robotaxi deployment, with a medium-term outlook in the next five years.
Tesla is going to trial in Florida federal court over a wrongful-death lawsuit. The suit blames Tesla and its Autopilot system for a 2019 crash that killed a 22-year-old woman.
Tesla is nearly ready to start selling its electric vehicles in India, according to Bloomberg News, after years of flirting with the idea. The company is about to open its first showroom in Mumbai and could start deliveries as early as August, according to the report.
Tesla will open a showroom in the Maker Maxity Mall at the Bandra Kurla Complex in Mumbai on July 15. It will mark the first official foray by Tesla into India.
Since the beginning of the year, shares are down around 20%; the S&P is up about 7%, All of which is putting pressure on Tesla's board to intervene.
Tesla sales are soaring in EV-friendly Norway despite a sustained slump across the rest of Europe. Christina Bu, secretary general of the Norwegian EV Association (NEVA), said Tesla's revamped Model Y is "definitely part of the reason" for its recent sales boost.