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☆ Pricing is really weird lately
▼ + stars: | 2024-07-10 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at why pricing is so weird these days . More recently, Walmart introduced digital price tags, which some people said could be used for variable pricing. The constantly changing costs have consumers feeling a sense of price fatigue, Emily writes. Emily writes that most economists agree that government-mandated price-fixing isn't the way to go about it. So, as Emily writes, you can't fault anyone for feeling a certain sense of doom and gloom about the economy.

Persons: —, Alyssa Powell, Emily Stewart, Emily, Michael Raines, Rebecca Zisser, Michael Arone, Steve Granitz, Elon Musk, Tyler Le, Larry Page, Biden, Keir Starmer, Rishi Sunak's, Jerome Powell, Jordan Parker Erb, Lisa Ryan, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Soviet Union, Business, Walmart, JPMorgan, Wall, Group, State, Navy, Spotify, Labour Party, Samsung Locations: Montana, Soviet, America, USA, Diego, Idaho, New York, London

☆ Musk says next Neuralink brain implant expected soon, despite issues with the first patient
▼ + stars: | 2024-07-10 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

Elon Musk said Wednesday that his brain tech startup Neuralink hopes to implant its system in a second human patient within "the next week or so." No BCI company has received approval from the U.S. Food and Drug Administration to commercialize their devices. In a livestream with Neuralink executives Wednesday, Musk said the company is hoping to implant its device in the "high single digits" of patients this year. However, in the weeks following the procedure, Neuralink said some threads from the implant retracted from Arbaugh's brain. Musk and the Neuralink executives said during Wednesday's livestream that only around 15% of the channels in Arbaugh's implant are functional.

Persons: Elon Musk, Musk, Neuralink, Noland Arbaugh, Wednesday's, DJ Seo, Matthew MacDougall Organizations: BCI, Neuroscience, U.S . Food, Drug Administration, Barrow Neurological, FDA, Wall Street, CNBC Locations: U.S, Barrow, Phoenix , Arizona, Neuralink

☆ Bill Gross says Tesla is the new meme stock
▼ + stars: | 2024-07-10 | by ( Yun Li | ) www.cnbc.com time to read: 1 min

Bill Gross' Janus Henderson Global Unconstrained Bond Fund suffered more than $200 million in redemptions last month, lowering assets to $1.25 billion from over $2.24 billion in February. Longtime investor Bill Gross believes Elon Musk's Tesla is behaving like a speculative play among retail investors. "Tesla acting like a meme stock — sagging fundamentals, straight up price action," the former chief investment officer and co-founder of Pimco said in a post on X Tuesday afternoon. "But then there seems to be a new meme stock every other day now. Tesla is on a stunning 10-day winning streak, up a whopping 43.6% since June 24.

Persons: Bill Gross, Janus Henderson, Elon Musk's Tesla, Tesla, Pimco, Tesla's Organizations: Bond Locations: redemptions

☆ Elon Musk beats $500 million severance lawsuit by fired Twitter workers
▼ + stars: | 2024-07-10 | by ( ) edition.cnn.com time to read: +2 min

The case is one of many accusing Musk of reneging on promises to former Twitter employees, including former Chief Executive Parag Agrawal, and vendors after buying the company for $44 billion in October 2022. Musk also runs the electric car company Tesla, and is the world’s richest person, according to Forbes magazine. The plaintiffs Courtney McMillian, who oversaw Twitter’s compensation and benefits, and Ronald Cooper, an operations manager, said Twitter instead offered fired employees just one month of pay as severance, with no benefits. The judge said the plaintiffs can try amending their complaint, but only for claims not governed by ERISA. The case is McMillian et al v. Musk et al, U.S. District Court, Northern District of California, No.

Persons: CNN — Elon Musk, Trina Thompson, Musk, Parag Agrawal, Courtney McMillian, Ronald Cooper, Twitter, Thompson, ” Organizations: CNN, U.S, Twitter, Forbes, Court, Northern District of Locations: San Francisco, U.S, Northern District, Northern District of California

☆ Elon Musk just dodged a $500 million bullet
▼ + stars: | 2024-07-10 | by ( Ana Altchek | ) www.businessinsider.com time to read: +3 min

Read previewElon Musk and his company X, formerly Twitter, just got out of a $500 million in severance pay lawsuit for now, according to a Tuesday court ruling. They argued the company failed to properly compensate over 6,000 laid-off employees under rules set by the Employee Retirement Income Security Act. The judge noted in her ruling that the company told employees after Musk took over that laid-off employees would get cash payouts. AdvertisementThe company told employees after Musk took over that laid-off employees would get cash payouts, according to the ruling. Several lawsuits have been filed regarding Musk's takeover of X and insufficient severance pay awarded to laid-off employees — and they're ongoing.

Persons: —, Elon Musk, Courtney McMillian, Ronald Cooper, Sanford Heisler Sharp, Trina Thompson, Musk, McMillian, Cooper Organizations: Service, Northern District of, Twitter, Business, BI, Musk's Locations: Northern District, Northern District of California, London, Boulder , Colorado

☆ Elon Musk gives an update on Neuralink's brain-chip business. These are 5 things you can expect in the near future.
▼ + stars: | 2024-07-10 | by ( Ana Altchek | ) www.businessinsider.com time to read: +3 min

Read previewElon Musk wants "to give people superpowers," according to a livestream Neuralink update broadcast on X Wednesday. The CEO took the moment to provide an overview of what's been done and give his future projections about the brain chip. The chip contains an array of tiny wires that fan out into the patient's brain. Neuralink's first patient, Noland Arbaugh, received the brain chip in January and has since said it improved his life. Musk started off the livestream by saying the second Neuralink patient is expected to receive an implant in the next week or so.

Persons: —, Elon, Neuralink's, Noland Arbaugh, Musk, Neuralink Organizations: Service, Business, Optimus, Bloomberg

☆ Former SpaceX worker describes 'frat boy' culture where colleagues joked about overseeing launches while drunk
▼ + stars: | 2024-07-10 | by ( Tom Carter | ) www.businessinsider.com time to read: +1 min

An ex-SpaceX employee told Bloomberg that working at SpaceX was like being a "babysitter for frat boys." She said some SpaceX employees discussed a drinking game on work email and joked about being intoxicated to oversee launches. The culture at Elon Musk's rocket firm has come under growing scrutiny in recent months. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA new Bloomberg report has shed light on SpaceX's working culture, with a former employee describing her colleagues as "frat boys."

Persons: —, Paige Holland Organizations: SpaceX, Bloomberg, Service, Elon Locations: Elon

☆ Elon Musk's net worth grew by $67 billion during Tesla's 10-day win streak
▼ + stars: | 2024-07-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Elon Musk's net worth soared to $274 billion after Tesla stock's 10-day stock win streak. AdvertisementElon Musk's net worth soared by $67 billion amid a long winning streak for Tesla stock through Tuesday's trading session, once again making him the world's richest person. The 10-day surge propelled Musk's net worth to $274 billion, according to data from Bloomberg. As Tesla stock hit its 52-week low in April, Musk's net worth declined by $65 billion on a year-to-date basis. But since Tesla stock bottomed, Musk's net worth has zoomed higher by $110 billion.

Persons: Elon, Tesla, Jeff Bezos's, —, Musk, Uber, Neil Roarty, Jeff Bezos Organizations: Service, Elon, Tesla, Bloomberg, Business, SpaceX, Musk, The Boring Company

☆ Jim Cramer reviews 8 companies that could top $1 trillion in market cap
▼ + stars: | 2024-07-10 | by ( Julie Coleman | ) www.cnbc.com time to read: 1 min

CNBC's Jim Cramer on Wednesday reviewed eight stocks that could join the coveted "trillion-dollar stock club," pinpointing pharmaceutical giant Eli Lilly and electric vehicle maker Tesla as top contenders. Currently, tech giants Apple , Microsoft , Nvidia , Alphabet , Amazon and Meta are the only companies on the market to surpass $1 trillion in market cap. "To me, it's going to be Lilly up next," Cramer said. "But the sheer popularity of Tesla might allow Musk to sneak back into the top rung, turning the Super Six back once again into the Magnificent Seven."

Persons: CNBC's Jim Cramer, Eli Lilly, Tesla, Lilly, Cramer, Musk Organizations: Apple, Microsoft, Nvidia

☆ U.S. and Allies Target Russian Bots Working to Spread Propaganda
▼ + stars: | 2024-07-09 | by ( Steven Lee Myers | Julian E. Barnes | ) www.nytimes.com time to read: +1 min

The Justice Department said on Tuesday that it had moved to disrupt a covert Russian influence operation that used artificial intelligence to spread propaganda in the United States, Europe and Israel with the goal of undermining support for Ukraine and stoking internal political divisions. In affidavits released with the announcement, officials with the Justice Department, the F.B.I. and the Pentagon’s Cyber National Mission Force linked the effort to Russia’s Federal Security Service and RT, the state television network that has channels in English and several other languages. The disclosure of such a large, global network of bots confirmed widespread warnings that the popularization of rapidly developing A.I. tools would make it easier to produce and spread dubious content.

Organizations: Ukraine, Elon, Justice Department, Force, Federal Security Service Locations: Russian, United States, Europe, Israel, Canada, Netherlands, Ukraine

☆ Meta is still betting Threads can beat Elon Musk's X — but Zuck faces an uphill battle
▼ + stars: | 2024-07-09 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

The platform became the world's fastest-growing app when it launched after hitting 100 million users in just five days. Zuck said last week the X rival now has more than 175 million monthly active users. In a recent interview with Platformer, Threads and Instagram boss Adam Mosseri said the aim was still overtaking X. In April, Sensor Tower estimated Threads had averaged 28 million daily active users in the US, while X averaged 22 million. An Instagram add-onWhile Meta still backs Threads to overtake X, the platform still very much exists alongside Instagram.

Persons: —, Zuckerberg's, Zuck, Elon Musk's, Musk, Adam Mosseri, Mosseri, Meta's Adam Mosseri, Justin Sullivan, Zuckerberg, Paul Carter, Carter, Instagram Organizations: Service, Zuckerberg's Twitter, Business, Twitter, Elon, Financial Times, Meta

☆ Beware, Elon Musk — BYD just took its next step toward world domination
▼ + stars: | 2024-07-09 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. Business Insider contacted BYD for comment but didn't immediately hear back. Turkey is part of the EU's Customs Union, and any BYD cars manufactured there could avoid the 17.4% additional tariff the EU slapped on BYD vehicles imported from China. Plans by Chinese EV giants BYD, MG, and Chery to build factories in Mexico have sparked concern among US officials over fears they could be used as a "backdoor" into the US market.

Persons: —, Elon, Mehmet Fatih, BYD, didn't, It's, Philip Nothard, Nothard, Elon Musk, Tesla Organizations: Service, Business, Union, EV, EU's Customs Union, BYD, Chery, Cox Automotive Locations: Turkey, Europe, China, Mexico, Germany

☆ Tesla prioritizes Musk's and other 'VIP' drivers' data to train self-driving software
▼ + stars: | 2024-07-09 | by ( Grace Kay | ) www.businessinsider.com time to read: +14 min

Business Insider has learned that those annotators focus their efforts on two high-profile categories of drivers: Tesla CEO Elon Musk and a select set of "VIP" drivers. These drivers are internally referred to as "VIP" users and their data is at times put in VIP queues, according to the workers. Related storiesData collected from VIP users, including high-profile Tesla drivers who post on YouTube, is scrutinized more heavily and more likely to be labeled, three current and former workers said. They said they'd been specifically told by leads on their teams that they were working on "VIP data" and had received overtime pay to work on the data ahead of FSD updates. Tesla's self-driving in the regulatory spotlightTesla has come under increasing scrutiny from regulators over the self-driving software and the company's marketing of the service.

Persons: —, Elon Musk, Musk's Teslas, YouTubers, Musk, Tesla, Tesla's, John Bernal, Bernal, else's, annotators, Walter Isaacson's, Tesla influencers, FSD, they'd, Raj Balwani, Chuck Cook, Tesla Raj, Balwani, I've, Cook, he'd, they're, Missy Cummings, Cummings, Philip Koopman, Koopman Organizations: Service, Business, Tesla, SpaceX, Twitter, California Department of Transportation, YouTube, National, Traffic Safety Administration, Carnegie Mellon University, US Justice Department Locations: Hillsborough , California, Tesla's Austin, Fremont , California, Hawthorne , California, California, San Francisco, Buffalo , New York, Los Angeles, Hawthorne, YouTubers, Lombard

☆ Musk got Tesla investors to focus on what is coming, rather than what is happening, says Jim Cramer
▼ + stars: | 2024-07-09 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

'Mad Money' host Jim Cramer looks at Tesla's recent market moves. Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email

Persons: Jim Cramer

This photograph shows the takeoff of the European Space Agency satellite launcher Ariane 6 rocket from its launch pad, at the Guiana Space Centre in Kourou, French Guiana, on July 9, 2024. Jody Amiet | AFP | Getty ImagesThe powerful European-built Ariane 6 rocket made its long-awaited liftoff on Tuesday as the region returned to a launch market dominated by Elon Musk's SpaceX. The rocket is a combined effort of about $4.5 billion overseen by the European Space Agency, or ESA, and built by ArianeGroup, an Airbus and Safran joint venture. Delayed debutThe European Space Agency satellite launcher Ariane 6 rocket is seen prior to its maiden launch at the Guiana Space Centre in Kourou, French Guiana, on July 9, 2024. The European Space Agency satellite launcher Ariane 6 rocket moves to the launch pad prior to its liftoff at the Guiana Space Centre in Kourou, French Guiana, on July 9, 2024.

Persons: Jody Amiet, Elon Musk's, Safran Organizations: European Space Agency, Guiana Space, AFP, Getty, Elon, Elon Musk's SpaceX, ESA, Airbus, Afp, Soyuz, SpaceX Locations: Kourou, French Guiana, Ukraine, Russia, Europe

☆ They blocked Elon Musk’s massive payday. Now they want $7 billion for it
▼ + stars: | 2024-07-09 | by ( ) edition.cnn.com time to read: +3 min

The legal fee represents a cut of the value that the plaintiff’s lawyers say was created for Tesla by a Delaware judge’s January ruling that rescinded Musk’s $56-billion pay package. The Musk case took a dramatic turn when Tesla shareholders in June voted to ratify Musk’s pay, which Tesla has argued corrected the flaws in the 2018 process that McCormick identified in her ruling. The company argues that Musk’s pay package has been restored and that Tornetta’s legal victory has been transformed into a loss. McCormick may take weeks or months to rule on the legal fee. The Delaware Supreme Court is considering a $267 million fee request in a shareholder class action involving Dell Technologies and that decision could provide fee guidance.

Persons: Elon Musk’s, Richard Tornetta, Tornetta, John Reed, ”, Chancellor Kathaleen McCormick, Bernstein Litowitz Berger, Grossmann, Greg Varallo, Tesla, Varallo, ” Varallo, Reed, McCormick Organizations: Delaware CNN, Tesla, Musk’s, Enron, Stanford Law School, Delaware Supreme, Dell Technologies Locations: Wilmington, Delaware

☆ Europe’s Ariane 6 rocket succeeds in debut flight
▼ + stars: | 2024-07-09 | by ( Jackie Wattles | ) edition.cnn.com time to read: +4 min

CNN —The European Space Agency’s member countries have endured a space access predicament as they have waited to have a functioning rocket in their toolbox. Europe’s Vega-C rocket, designed for vaulting small satellites to orbit, has also been grounded since a December 2022 failure. Spectators watch the takeoff of the Ariane 6 rocket from its launchpad at the Guiana Space Center on Tuesday. The Ariane 6 rocket is seen prior to its maiden launch at the Guiana Space Center on Tuesday. Jody Amiet/AFP/Getty ImagesOn Tuesday, the rocket took off on its inaugural test flight hauling small satellites, experiments and technology demonstrations.

Persons: Safran, Europe’s Vega, Jody Amiet, Josef Aschbacher, “, ” Aschbacher, it’s Organizations: CNN, Guiana Space Center, ESA, SpaceX, Arianespace, Airbus, Getty, European Organisation Locations: Kourou, French Guiana, South, France, ArianeGroup, AFP, Elon Musk’s California, Europe, Nemo

☆ Tesla’s Share of U.S. Electric Car Market Falls Below 50%
▼ + stars: | 2024-07-09 | by ( Jack Ewing | ) www.nytimes.com time to read: +1 min

Tesla’s once-commanding share of the market for electric vehicles in the United States slipped below 50 percent in the second quarter of the year even as sales of battery-powered cars surged to a record, according to new estimates published Tuesday by a research firm. It was the first time the company’s market share fell below 50 percent in a quarter, according to Cox. The firm, a leading auto industry researcher, estimates market share based on registrations, company reports and other data. Before that car, very few electric vehicles were sold in the United States. A year earlier, electric vehicles accounted for 7.2 percent of the market, Cox said.

Persons: Tesla’s, Elon Musk, Cox, Tesla Organizations: General Motors, Ford Motor, Hyundai, Kia, Cox Automotive Locations: United States

☆ Sun Valley: Welcome to the secret summer camp for billionaires
▼ + stars: | 2024-07-09 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

The vibe is trail-dad chic — think puffy Patagonia vests and Apple watches and stealth-wealth cashmere pullovers. Sun Valley is also widely believed to be the place where Jeff Bezos decided to buy The Washington Post, and the site of the meet-cute between Comcast and NBC Universal. There are also some notably absent names from the guest list this year. Bob Iger, CEO of Disney and one of the most recognizable business leaders on the planet, wore a name tag and aviators at last year's Sun Valley summit. Questions about President Joe Biden’s ability to campaign have wealthy donors and Democratic officials in a tizzy.

Persons: ”, Jeff Bezos, Warren Buffett, Sam Altman, Bob Iger, Tim Cook, Meta’s Mark Zuckerberg, Google’s Sundar Pichai, Rupert Murdoch, Oprah Winfrey, David Zaslav, Zaslav, Kevin Dietsch, There’s Buffett, Greg Abel, Buffett, Astrid, Elon Musk, Joe Biden’s, Gretchen Whitmer, Josh Shapiro, Wes Moore, Biden, it’s, Hamilton Nolan Organizations: New, New York CNN, Friedman, Allen & Company, Washington Post, Comcast, NBC Universal, Idaho Mountain Express, Disney, Warner Bros, Bloomberg, Variety, Discovery, Paramount, Democratic Locations: New York, Hailey , Idaho, Sun Valley , Idaho, Idaho, America, Sun

☆ Meet the AI-powered robots that Big Tech thinks can solve a global labor shortage
▼ + stars: | 2024-07-08 | by ( Kate Rooney | ) www.cnbc.com time to read: +1 min

If some industry experts are right, they could help solve a global labor shortage. Companies like Tesla, Amazon , Microsoft and Nvidia have plowed billions of dollars into what are known as "humanoid" robots. The market for humanoids is set to balloon to $38 billion in the next 20 years, according to an analysis by Goldman Sachs. The firm predicts these robots will be the next "must-have" device, not unlike smartphones or EVs. Goldman also say humanoids may be "vital for manufacturing and dangerous work, but they would also help with elderly care and fill in for labor shortages in factories."

Persons: Elon Musk, Musk, Goldman Sachs, Goldman Organizations: Microsoft, Nvidia, Robotics Locations: Silicon Valley

☆ Europe hopes to take on Elon Musk's SpaceX with new rocket launch
▼ + stars: | 2024-07-08 | by ( Tom Carter | ) www.businessinsider.com time to read: +1 min

Europe has been dependent on Elon Musk's SpaceX to reach space — but that could be about to change. The Ariane 6, Europe's answer to SpaceX's Falcon 9 rocket, is set to launch on Tuesday. Officials hope it will compete with SpaceX's rockets, but Elon Musk isn't so sure. AdvertisementSpaceX is dominating the global space industry — but Europe is hoping a new rocket will change that. On Tuesday, the 200-foot tall Ariane 6 rocket plans to launch for the first time after years of delays from a spaceport in French Guiana, carrying the hopes of Europe's space industry and its ambition of competing with Elon Musk's rocket firm into orbit.

Persons: Elon Musk, — Organizations: Elon, SpaceX, SpaceX's, Service Locations: Europe, Guiana

☆ SpaceX’s Assault on a Fragile Habitat: Four Takeaways From Our Investigation
▼ + stars: | 2024-07-07 | by ( Eric Lipton | ) www.nytimes.com time to read: +1 min

When Elon Musk first eyed South Texas for a new base of space operations, he promised that SpaceX would have a small, eco-friendly footprint and that the surrounding area would be “left untouched.”A decade later, the reality is far different. An investigation by The New York Times shows how SpaceX’s ferocious growth in the area has dramatically changed the fragile landscape and has threatened the habitat that the U.S. government is charged with protecting there. More repercussions are likely coming, in South Texas and in other places where SpaceX is expanding. Mr. Musk has said he hopes to one day launch his Starships — the largest rocket ever manufactured — a thousand times a year. But Gary Henry, who until this year served as a SpaceX adviser on Pentagon launch programs, said the company was aware of concerns about SpaceX’s environmental impact and was committed to addressing them.

Persons: Elon Musk, Musk, Gary Henry Organizations: SpaceX, The New York Times, Pentagon Locations: South Texas

☆ Stop worrying and learn to love the triumph of Big Tech over everything
▼ + stars: | 2024-07-07 | by ( Jim Cramer | ) www.cnbc.com time to read: +9 min

We don't say they have a secular wind at their backs. We don't say: Apple's business is much better than we thought. They keep coming back to one main point: You can't have these companies dominate without something bad happening to the stock market. Let me present a different, factual manifesto: The companies with these amazing gains are companies that just don't stop inventing. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Eli Lilly, Joe Biden, Biden, Lilly, —, Tesla, Elon Musk, Jim Cramer's, Jim Cramer, Jim Organizations: Amazon, Microsoft, Apple, Nvidia, Nasdaq, pharma, Novo Nordisk, National Football League, YouTube, Web Services, Costco, Walmart, Jim Cramer's Charitable, CNBC, Facebook, Google Locations: Lilly

☆ A key part of America’s economy has shifted into reverse
▼ + stars: | 2024-07-07 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Washington CNN —A vast swath of the US economy is showing signs of weakness as unemployment rises to its highest point in more than two years. “When you think of services, a lot of it is driven by the consumer, and consumers are key to where the US economy goes,” James Knightley, chief international economist at ING, told CNN. Consumer spending, which makes up about 70% of the US economy, has already moderated over the past few months, government statistics show, and retailers themselves have said they’ve noticed shoppers across the income spectrum change their purchasing behavior. The bottom 60% of households by income accounted for a larger proportion of spending on health care services. These firms have added 168,000 jobs a month, on average, from April through June, according to fresh Labor Department data released Friday.

Persons: “, ” James Knightley, “ We’re, Knightley, Scott Hamilton, Gallagher, It’s, Tesla, China’s Geely, Laura He, Elon, Jerome Powell, Michael Barr, Michelle Bowman, Austan Goolsbee, Raphael Bostic Organizations: CNN Business, Bell, Washington CNN, Institute, Supply, ING, CNN, Commerce, Service, Labor Department, EV, Volvo, SAIC, Elon Musk’s, Business, Committee, Fed, China’s National Bureau of Statistics, Financial Services, Chicago Fed, Pepsico, Delta Air Lines, ConAgra Brands, US Labor Department, Atlanta Fed, JPMorgan Chase, Citigroup, The, New York Mellon, The University of Michigan Locations: Washington, United States, California, Jiangsu, China, Shanghai, Wells Fargo

☆ EVs aren't exciting anymore. Investors want to hear about software.
▼ + stars: | 2024-07-07 | by ( Nora Naughton | ) www.businessinsider.com time to read: +5 min

That leaves Wall Street investors looking for something else to set an electric vehicle maker apart: software. Rivian, which has been facing its own issues with a falling stock price and disappointing financial results, is now riding high after announcing a software joint venture with Volkswagen. Related storiesThe companies said that Volkswagen will make an initial $1 billion investment in Rivian as part of a software development deal. The first was a $500 million investment from Ford to build EVs in a joint venture Rivian struck before it had even started production. While Volkswagen's stock price hasn't enjoyed the same ride as Rivian's, investors are pleased to see the German automaker focusing on improving its software development programs.

Persons: —, Tesla, Elon, Dan Ives, Ives, It's, Rivian, John Murphy, Murphy, hasn't, Morgan, Jose Asumendi Organizations: Service, Business, Volkswagen, Ford, VW, EV, Bank of America, Rivian, VW Group Locations: Wedbush, FSD, Rivian, Normal, Georgia

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