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☆ When Tesla shares rise — these 7 stocks have tended to rise too, according to recent history
▼ + stars: | 2024-04-24 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Seven stocks in the S & P 500 tend to rise alongside Tesla shares, according to an analysis of recent data by CNBC Pro . The share price performances of these S & P 500 stocks were highly correlated to Tesla's last month. However, unlike Tesla's more than 30% plunge this year, these stocks have either remained flat or have relatively modest negative returns. A correlation of zero would indicate no statistical link between the EV automaker's stock and the share price of the seven companies. The consensus upside potential for the stocks listed above was derived from FactSet's poll of analysts covering each stock.

Persons: Elon Musk, weathers, — CNBC's Lora Kolodny Organizations: CNBC Pro, Juniper Networks, Seagate Technology, Tyler Technologies, Regeneron Pharmaceuticals, Vertex Pharmaceuticals, IDEXX Laboratories, EV, CNBC Locations: U.S, lockstep

☆ Tesla to pay $42 million for employee crash that injured motorcyclist
▼ + stars: | 2024-03-15 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

The Tesla Inc. logo is captured on a sign of one of its shops in Zurich on Nov. 13, 2023. Tesla and the employee, Kyle Kaszuba, must pay more than $42 million in damages to the victim, Christopher Dugan, a Marion County jury said in a Wednesday verdict. The jury found that Dugan was 30% liable for the crash, reducing the award from $60 million to $42 million. The crash occurred while Kaszuba was operating a 2014 Ford vehicle owned by Tesla either with the permission of Tesla or while working in his capacity as a Tesla employee, Dugan alleged in his initial complaint. The gas station near where the crash occurred is located just outside of a ramp to I-465, the ring road that encircles Indianapolis.

Persons: Tesla, Kyle Kaszuba, Christopher Dugan, Dugan, Kaszuba, Quinn Emanuel, Nick Rowley, — CNBC's Lora Kolodny Organizations: Tesla, Ford, Ford Super, Inc, View Locations: Zurich, An Indiana, Marion, Indianapolis

“We believe the claims in this suit may stem from Elon’s regrets about not being involved with the company today,” wrote OpenAI Chief Strategy Officer Jason Kwon in an internal memo on Friday that was viewed by CNBC. The next year, Musk gave nearly $20 million to OpenAI, which the attorneys reiterated was more than other backers. "We did not think either approach was right for the mission," Kwon wrote. Regarding OpenAI's transformation from an "open source foundation" to a multibillion-dollar for-profit company, Musk said, "I don't know, is this legal?" — CNBC's Lora Kolodny and Hayden Field contributed to this reportWATCH: Elon Musk lawsuit against OpenAI and Altman began a year ago

Persons: Elon Musk, Tesla, ”, Jason Kwon, Sam Altman, OpenAI, Altman, Musk, Greg Brockman, Kwon, they've, Andrej Karpathy, Karpathy, didn't, — CNBC's Lora Kolodny, Hayden Field, Elon Organizations: CNBC, Elon, Microsoft, Tesla, The New York Times, OpenAI Locations: OpenAI

☆ Reed Hastings sells $1.1 billion in Netflix shares
▼ + stars: | 2024-01-29 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Netflix co-founder and executive chairman Reed Hastings has gifted two million shares of his holdings in the streaming giant, according to a regulatory filing, with a current value of more than $1.1 billion. "We don't know what it could be, whether it's a charity or multiple charities," VerityData Vice President Ben Silverman told CNBC. Hastings retains just under three million Netflix shares with a value of around $1.7 billion. Though Hastings remains the executive chairman of Netflix, the company has no obligation to disclose the reason behind the gift or the beneficiary. Netflix shares are up nearly 23% year to date but are still around 16% below their 2021 high.

Persons: Reed Hastings, Hastings, it's, Ben Silverman, VerityData's Silverman, — CNBC's Lora Kolodny Organizations: Netflix, New York Times DealBook, Jazz, Lincoln Center, Bloomberg, CNBC, United Negro College Fund, Hastings, CNBC PRO Locations: New York City

☆ Elon Musk's AI startup — X.AI — files to raise $1 billion in fresh capital
▼ + stars: | 2023-12-05 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

Elon Musk speaks onstage during The New York Times Dealbook Summit 2023 at Jazz at Lincoln Center on November 29, 2023 in New York City. X.AI, an artificial intelligence startup founded by Elon Musk, has filed with the SEC to raise up to $1 billion in an equity offering. The AI startup, which Musk announced in July, seeks to "understand the true nature of the universe," according to its website. Last month, X.AI released a chatbot called Grok, which the company says is modeled after "The Hitchhiker's Guide to the Galaxy." — CNBC's Lora Kolodny contributed to this reportWATCH: Elon Musk's X.AI launches 'Grok'

Persons: Elon Musk, Musk, X.AI, didn't, OpenAI, Sam Altman, Google's Bard, Claude chatbot, Tesla, They've, DeepMind's AlphaCode, OpenAI's, — CNBC's Lora Kolodny, Elon Musk's X.AI Organizations: New York Times, Jazz, Lincoln Center, Elon, SEC, Google's, Nvidia, SpaceX, Boring Company, X Corp, DeepMind, Google Research, Microsoft Research, Twitter, Tesla, X.AI Locations: New York City, Nevada

Sam Altman, CEO of OpenAI, attends the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 16, 2023. "Sam and OpenAI were the catalyst that showed the world what AI tech is capable of," Jannsen said. Silicon Valley's high-profile startup CEO firings typically involve wrongdoing, rather than just philosophical differences about where the company is headed. "Sam Altman is a hero of mine," former Google CEO and investor Eric Schmidt said in an X post. — CNBC's Lora Kolodny contributed to this report WATCH: OpenAI says Sam Altman exiting as CEO because 'board no longer has confidence.'

Persons: Sam Altman, Carlos Barria, OpenAI, Steve Jobs, Altman, —, Jobs, U.S . Altman, Mark Zuckerberg, Jeff Bezos, Elon Musk, Greg Brockman, Brockman, Ron Conway, Greg, Brian Chesky, Matt Schlicht, Schlicht, Sam, Ryan Jannsen, Jannsen, Patrick Moorhead, They're, Moorhead, Josh Wolfe, Wolfe, he'd, Eric Schmidt, Tom Williams, Airbnb's Chesky, what's, Chesky, Satya Nadella, Zachary Lipton, Carnegie Mellon's Lipton, Lipton, — CNBC's Lora Kolodny Organizations: Economic Cooperation, Reuters, ChatGPT, Apple, U.S ., Amazon, Tesla, Microsoft, Tiger, Sequoia Capital, CNBC, Google, Lux Capital, Cq, Inc, Getty, Carnegie Mellon University, Industry Locations: Asia, San Francisco , California, U.S, Silicon Valley, OpenAI, what's, —

☆ OpenAI's Sam Altman exits as CEO because 'board no longer has confidence' in his ability to lead
▼ + stars: | 2023-11-17 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +5 min

OpenAI's board of directors said Friday that Sam Altman will step down as CEO and will be replaced on an interim basis by technology chief Mira Murati. "The board no longer has confidence in his ability to continue leading OpenAI," the statement said. The board also said that Greg Brockman, OpenAI's president, "will be stepping down as chairman of the board and will remain in his role at the company, reporting to the CEO." Before taking over as CEO, Altman, 38, was president of startup accelerator Y Combinator and gained prominence in Silicon Valley as an early-stage investor. Microsoft CEO Satya Nadella made a surprise guest appearance during the event, joining Altman on stage to discuss the startup's AI technologies and its partnership with Microsoft.

Persons: Sam Altman, Mira Murati, Ilya Sutskever, Adam D'Angelo, Tasha McCauley, Helen Toner, OpenAI, Greg Brockman, what's, Murati, Mira, ChatGPT, Satya Nadella, Nadella, Elon Musk, Altman, rapt, Ted Lieu, Mike Johnson, Joe Biden, Xi Jinping, Altman didn't, — CNBC's Lora Kolodny Organizations: Tech, Conference, Georgetown Center for Security, Emerging Technology, Microsoft, OpenAI, U.S . Senate, House Democratic Caucus, Economic Cooperation, U.S Locations: Laguna Beach , California, Mira, Silicon Valley, Indonesia, Asia, Pacific, Singapore, India, China, South Korea, Japan, San Francisco

☆ Cruise will reduce robotaxi fleet by 50% in San Francisco while California DMV investigates ‘incidents’
▼ + stars: | 2023-08-19 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

In an aerial view, Chevrolet Cruise autonomous vehicles sit parked in a staging area on June 08, 2023 in San Francisco, California. Cruise will reduce its robotaxi fleet by 50% in San Francisco, the California Department of Motor Vehicles told CNBC. "The DMV is investigating recent concerning incidents involving Cruise vehicles in San Francisco," a DMV spokesperson said in a statement. In addition to the crash with a firetruck, one Cruise vehicle reportedly got stuck in concrete, and an autonomous vehicle with a passenger got hit by a driver. Last weekend, a slew of Cruise vehicles stalled and slowed traffic outside an outdoor music festival.

Persons: Alphabet's Waymo, Cruise, Greg Dietrerich, Dietrerich, — CNBC's Lora Kolodny Organizations: Chevrolet Cruise, Cruise, California Department of Motor Vehicles, CNBC, General Motors, San, DMV, Cruises Locations: San Francisco , California, Autonomous, San Francisco

☆ Elon Musk says users on X, formerly Twitter, will lose ability to block unwanted followers, eliminating key safety feature
▼ + stars: | 2023-08-18 | by ( Ari Levy | ) www.cnbc.com time to read: +2 min

Users of X, formerly known as Twitter, will no longer be able to block comments from unwanted followers, according to a post by X owner Elon Musk on Friday, eliminating what's long been viewed as a key safety feature. "Block is going to be deleted as a 'feature', except for DMs," Musk wrote Friday. The mute feature just keeps the individual user from seeing the undesired responses, but doesn't eliminate them from others' feeds. Twitter users have also long employed the block feature in boycotts and to avoid seeing ads from specific brands or promoters on the platform. Binance CEO Changpeng Zhao, an investor in the new Twitter alongside Musk, said in a post that the company should focus its attention elsewhere.

Persons: Elon Musk, Musk, Changpeng Zhao, Zhao, Louis Jones, Jones, — CNBC's Lora Kolodny Organizations: Twitter, DMs, Tesla, Brand Safety, CNBC

☆ Some crypto assets are securities, Manhattan judge says, complicating Coinbase and Ripple cases
▼ + stars: | 2023-08-01 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

A Manhattan federal judge said in an opinion that cryptocurrencies are considered securities regardless of how they are sold. U.S. District Judge Jed Rakoff's decision Monday complicates SEC's litigation with both Ripple and crypto exchange Coinbase. The Ripple ruling was considered a win by the industry because it said a cryptocurrency may or may not be a security depending on who's buying it. The SEC has argued in cases against Binance, Coinbase and Kraken that many cryptocurrencies listed on popular exchanges are securities. The SEC has pursued numerous other crypto firms over the alleged unregistered offer and sale of securities, including Coinbase , Gemini and Genesis.

Persons: Hon Chang, joon, Kwon, cryptocurrencies, Jed Rakoff's, Coinbase, Rakoff, — CNBC's Lora Kolodny Organizations: UST, Securities and Exchange Commission, Terraform Labs, U.S, SEC, Binance Locations: Podgorica, Montenegro, Manhattan

☆ Tesla shares down on slimming margins, Cybertruck concerns
▼ + stars: | 2023-07-20 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

If it holds, it'll be the worst day for Tesla's stock in three months. Analysts also highlighted concerns with Tesla's margin "headwinds," which at 9.6% was the lowest result for at least the last five quarters. Tesla beat on the top and bottom lines, reporting revenue of $24.93 billion and earnings of 91 cents per share, adjusted, for the quarter ended June 30, 2023. Early this month, Tesla reported 466,140 total vehicle deliveries for the second quarter, the closest approximation of sales that Tesla reports. Cybertruck "factory tooling" is on track but the company is only producing "release candidate" builds, the company said in its earnings presentation.

Persons: Tesla, Elon Musk, it'll, Musk, we've, Mark Delaney, Goldman Sachs, Cybertruck, — CNBC's Lora Kolodny, Michael Bloom

☆ Elon Musk's Twitter files data-scraping lawsuit against unknown defendants
▼ + stars: | 2023-07-13 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

Elon Musk's X Corp., the parent company of Twitter, filed a lawsuit against four unknown entities last week over data scraping on Twitter. Data scraping is when automated programs scour publicly accessible websites to collect data, which can later be used for a wide range of purposes, including training artificial intelligence large language models, targeting online advertisements and much more. The ruling reaffirmed the appeals court's decision, finding that scraping public data does not violate the Computer Fraud and Abuse Act. "Corp. has also limited access to Tweets for users who are not signed in to registered Twitter account." "By unlawfully scaping data, Defendants flagrantly ignore not only Corp.'s Terms of Service, but also the privacy preferences of Twitter users," the filing stated.

Persons: Elon Musk, Porte, Elon, — CNBC's Lora Kolodny Organizations: Twitter, Viva Technology, Porte de, Elon Musk's X Corp, X Corp, U.S, Ninth Circuit, LinkedIn, Corp, " Corp Locations: Paris, Texas, Dallas County , Texas, U.S

☆ Elon Musk's Twitter sues top law firm Wachtell over $90 million fee for work under prior ownership
▼ + stars: | 2023-07-07 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Attorneys for Elon Musk filed suit this week against the law firm that represented Twitter when Musk was trying to take the company private last year, claiming the firm charged too much for its work. The lawsuit says Wachtell, Lipton, Rosen, and Katz, which was Twitter's firm prior to Musk's acquisition, racked up a $90 million "last minute" legal bill. Wachtell represented Twitter after Musk reneged on his initial offer to take Twitter private for $44 billion. The law firm helped close the deal in November 2022, and was paid that $90 million fee for its work securing the transaction, which was tendered at a significant premium to Twitter's public market valuation. Twitter sued Musk for not honoring his commitment to the company's shareholders, and Musk eventually relented, purchasing Twitter at the agreed upon price.

Persons: Elon Musk, Musk, Wachtell, Lipton, Rosen, Katz, Reid Collins, Tsai, It's, Ben Roth, — CNBC's Lora Kolodny Organizations: Tesla Inc, Elon, Twitter, X Corp, San Francisco, Google, Rosen Locations: San Francisco , California, Austin , Texas, Delaware, California, San Francisco

☆ Companies scramble to meet payroll, pay bills after SVB's swift failure
▼ + stars: | 2023-03-10 | by ( Ari Levy | ) www.cnbc.com time to read: +7 min

In this article SIVB Follow your favorite stocks CREATE FREE ACCOUNTEmployees stand outside of the shuttered Silicon Valley Bank (SVB) headquarters on March 10, 2023 in Santa Clara, California. They'll receive a dividend within a week covering an undetermined amount of their money and a "receivership certificate for the remaining amount of their uninsured funds." Clients with uninsured funds — anything over $250,000 — don't know what to do. Gilbert said he's advising portfolio companies individually, instead of sending out a mass email, because every situation is different. "I got emails saying saying don't send money to SVB, and if you have let us know," Gilbert said.

☆ Tesla shares down 8% after Investor Day despite positive analyst sentiment
▼ + stars: | 2023-03-02 | by ( Rohan Goswami | ) www.cnbc.com time to read: +1 min

Tesla shares continued sliding Thursday morning, a movement that began the prior day during Tesla's Investor Day event, which provided investors with a long-term vision but lacked detail on new products or services. The electric-vehicle manufacturer's stock fell over 8% in the pre-market, despite positive analyst reaction to CEO Elon Musk's presentation and to Tesla's overall outlook. Jonas has an overweight rating and set a $220 price target for the stock. Goldman Sachs maintained a buy rating and a $200 price target, with analyst Mark Delaney writing Thursday that "the event reinforced our positive view of the company's long-term competitive positioning." Tesla shares are up over 80% year-to-date but remain well off of the 2021 high, which propelled the stock price above $400.

☆ Amazon's Zoox robotaxi now giving rides to employees on public roads in California
▼ + stars: | 2023-02-13 | by ( Annie Palmer | ) www.cnbc.com time to read: +3 min

Amazon -owned autonomous vehicle venture Zoox said on Monday that it is now testing its self-driving robotaxis on public roads in California with passengers on board. Zoox executives said the company began the tests after it received approval from the California Department of Motor Vehicles last week. Zoox said one of its vehicles completed a test run with employees on board over the weekend. Zoox unveiled its custom-built, electric robotaxi in 2020, with an eye on offering on-demand autonomous transportation in urban settings. It will continue to test the vehicle with employees and expects to launch a shuttle service for staffers this spring.

☆ Amazon discontinues charity donation program amid cost cuts
▼ + stars: | 2023-01-18 | by ( Annie Palmer | ) www.cnbc.com time to read: +2 min

Amazon said Wednesday it plans to shut down its charity donation program, in the latest example of the company's broader cost-cutting efforts. Through the program, called AmazonSmile, the e-retailer donates a percentage of eligible purchases on the site to the shoppers' chosen charity organization. Amazon said it has donated roughly $500 million to charities since the program launched in 2013. Amazon now plans to wind down AmazonSmile by Feb. 20, the company said in a notice to customers posted to its website. "After almost a decade, the program has not grown to create the impact that we had originally hoped," the company said.

☆ Want a Tesla alternative? Analysts and fund managers reveal their top EV stocks
▼ + stars: | 2023-01-16 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

Now, a precipitous plunge in its share price in 2022 puts its value well under $400 billion. At the end of last week, the EV maker cut prices in the U.S. and throughout Europe in what's being viewed as an effort to boost sales volumes. But there have also been some self-inflicted pains too: the long-running Twitter saga ; Musk's massive sale of Tesla shares ; and a capacity expansion in the face of slowing demand. Tesla alternatives For Deutsche Bank, Chinese EV maker Nio is the only pure-play name among its top automotive picks for 2023. Nio shares ended Friday at $11.81, down over 60% over the last year.

☆ Tesla shares tumble 10% following deliveries report
▼ + stars: | 2023-01-03 | by ( Ashley Capoot | ) www.cnbc.com time to read: +3 min

Shares of Tesla dropped 10% on Tuesday morning, a day after the electric auto maker reported fourth-quarter vehicle production and delivery numbers for 2022. The company reported 405,278 total deliveries for the quarter and 1.31 million total deliveries for the year. According to a consensus of analysts' estimates compiled by FactSet, as of Dec. 31, 2022, Wall Street was expecting Tesla to report around 427,000 deliveries for the final quarter of the year. Some Wall Street analysts think Tesla's deliveries miss spells trouble for the electric vehicle maker, but others see a buying opportunity for the company in 2023. "We believe key debates from here will be on whether vehicle deliveries can reaccelerate, margins and Tesla's brand," the analysts said.

☆ Tesla's stock is headed for its worst month, quarter and year on record
▼ + stars: | 2022-12-27 | by ( Rohan Goswami | ) www.cnbc.com time to read: +3 min

Elon Musk's electric car company is days away from closing out its worst month, quarter and year on record and has moved past Meta to become the worst-performing stock in 2022 among the most valuable tech companies. For the month of December, Tesla has plunged 43%, by far its worst month ever, as it had never fallen more than 25% in a single month. And in the fourth quarter, the stock is down 58%, worse than its 38% drop in the second quarter of this year, which had been its worst period on record. Those discounts came after the automaker offered incentives in mainland China for December auto sales earlier this month. Twitter is bleeding cash, and Musk is selling Tesla stock in big chunks.

☆ Elon Musk says Twitter Blue relaunch delayed, may use different color checks for organizations
▼ + stars: | 2022-11-22 | by ( Todd Haselton | ) www.cnbc.com time to read: +2 min

Twitter owner Elon Musk said on Monday evening that the company is planning to delay the relaunch of its $8 per month Blue Verified service. Musk said Twitter will "probably use different color check for organizations than individuals." It allowed users to pay for a Blue checkmark, previously reserved for verified users. Musk had earlier said he planned to relaunch Twitter Blue on Nov. 29. The paid Blue subscription service led to a plethora of pranksters creating imposter accounts on Twitter.

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