Tesla's stock dropped 14.1% following a quarterly earnings report that beat revenue estimates but fell short on earnings per share, leading to an $18.6 billion decrease in Elon Musk's net worth. Analysts criticized Tesla's heavy spending on AI and robotics, urging the company to deliver tangible results, especially for its robotaxi and Optimus programs. Musk also addressed speculation about a Tesla-SpaceX merger, denying any current plans but noting increasing overlaps between the companies. Meanwhile, SpaceX prepares for its 13th Starship test flight after a recent engine failure delayed a previous launch.
The S&P 500 dropped below its 50-day moving average amid a selloff driven by oil prices hitting $100 per barrel and rising U.S. Treasury yields, which pushed the 10-year yield to 4.70%. This spike increased fears of Federal Reserve interest rate hike...
Tesla has started production of Optimus, a humanoid robot that learns tasks by observing humans rather than relying on pre-written code. CEO Elon Musk highlighted that unlike other robots, Optimus can perform generalized tasks by learning from contin...
Tesla reported strong vehicle delivery growth and increased Full Self-Driving (FSD) subscriptions in Q2, but profitability declined due to lower average selling prices and higher expenses. The company’s future growth potential remains promising with ...
Tesla's Robotaxi service saw a 36% decline in miles driven for paying customers in Q2 compared to Q1, falling from 1.1 million to about 700,000 miles. This drop occurred even as Tesla expanded its Robotaxi fleet to six cities in Texas and Florida. CE...
Tesla posted revenue growth in Q2 but missed earnings per share expectations, with operating margins dropping sharply to 1.4% and free cash flow turning negative. The company’s costly projects like Optimus, Cybercab, and Megapod lack clear profitabil...
