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Tesla shares jump 5% on delivery optimism, chip factory plans, and SpaceX IPO buzz.

Market News
31 Mar 2026
24/7 Wall Street
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Bullish
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Tesla's stock rose 5% to around $373 driven by three key factors: expected Q1 vehicle deliveries of 365,645 units signaling a 9% year-over-year increase, the announcement of Terafab—a new chip factory project with SpaceX and xAI to secure future chip supply—and positive sentiment around a potential SpaceX IPO. Despite a recent 21% year-to-date decline, investors are encouraged by Tesla's energy storage growth and AI initiatives like Robotaxi expansion. The official Q1 delivery report due in early April and geopolitical risks in the Middle East remain key watch points.

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