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☆ Tesla's cars are starting to look pretty basic — and that's a problem
▼ + stars: | 2024-07-24 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

But people looking for a flashy new design in Tesla's more traditional car lineup are stuck waiting for now. The Model S and Model X used to be the ultimate status symbol. In 2020, TikTok star Addison Rae made headlines when she was spotted in her bright pink Tesla Model X. And the design of the Model S and Model X hasn't been meaningfully updated since 2021. "If you start announcing some great thing, it affects our near-term sales," Musk said on Tuesday.

Persons: —, Tesla, Addison Rae, Brian Moody, Elon Musk, Tesla's, Edmunds, Ivan Drury, that's, Moody, Musk, Osborne, Stephanie Valdez, Valdez, Streaty Organizations: Service, Business, Cox Automotive, Streaty, Cox Automotive Industry, EV

☆ Elon Musk says a Trump presidency would be good for Tesla, but 'devastating' for its rivals
▼ + stars: | 2024-07-24 | by ( Tom Carter | ) www.businessinsider.com time to read: +1 min

Elon Musk was asked what would happen if Trump won the election and withdrew government support for EVs. He said it would be "devastating" for Tesla's rivals but would probably help Tesla "long term." Musk has been an outspoken supporter of Trump in recent weeks, despite his earlier criticism of EVs. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk thinks a Trump presidency could be good for Tesla, but "devastating" for its rivals.

Persons: Elon Musk, Trump, Tesla, —, Elon, Musk, Joe Biden's Organizations: EVs, Trump, Service

☆ Elon Musk doubles down on Tesla's Dojo supercomputer, aiming to compete with Nvidia
▼ + stars: | 2024-07-24 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

Read previewElon Musk is barrelling full steam ahead on Dojo — Tesla's supercomputer project and attempt at competing with AI chip superstar Nvidia. Musk acknowledged he is "quite concerned" about Tesla's inability to access the top-tier Nvidia graphics processing units, or GPUs, because of skyrocketing demand for microprocessors within the tech sector. "We do see a path to being competitive with Nvidia with Dojo," Musk said. While the tech company has only become a household name in the last year, Nvidia has been working on its signature chips for years. "We've really got to make Dojo work," Musk said during the call.

Persons: —, Elon, Musk, Tesla, Stephen Witt Organizations: Service, Nvidia, Business, didn't, Dojo, NPR, Yorker, CNBC, Mizuho Securities

☆ Venture capitalist discusses how Silicon Valley, Musk view the U.S. election
▼ + stars: | 2024-07-24 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailVenture capitalist discusses how Silicon Valley, Musk view the U.S. electionVenky Ganesan, partner at Menlo Ventures, discusses how Silicon Valley is looking at the U.S. presidential elections and Tesla owner Elon Musk's endorsement of Republican nominee Donald Trump.

Persons: Venky Ganesan, Elon Musk's, Donald Trump Organizations: Email Venture, Menlo Ventures, U.S

☆ Chinese EV stocks drop after Tesla's earnings miss, General Motors delays EV plans
▼ + stars: | 2024-07-24 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

(Photo by Costfoto/NurPhoto via Getty Images)Shares of major Chinese electric vehicle companies dropped Wednesday after U.S. giant Tesla 's earnings fell short of analysts' estimates and General Motors delayed its EV plans. EV hype has been dwindling, as automakers from Tesla to General Motors scale back or delay their EV plans. Tesla shares closed 2.04% lower. Separately, General Motors on Tuesday said it was delaying further a second U.S. electric truck plant and the Buick brand's first EV. Investors were spooked by the pullbacks in growth businesses and General Motors' shares closed 6.42% lower on Tuesday despite solid financial results.

Persons: Tesla, Xpeng, Nio, Li Auto, Elon Musk, Musk Organizations: 21st Changchun International Automobile, Getty, U.S, General Motors, EV, Zhejiang Leapmotor, SAIC, Motors, Buick, Investors Locations: Changchun, Jilin province, China, Hong Kong, BYD, Zhejiang, U.S, Xpeng

☆ Tesla keeps touting future plans. But without specific details, investors aren't buying it.
▼ + stars: | 2024-07-24 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at another Tesla earnings report that was light on details about big future plans . The approach worked well last quarter when Tesla's earnings report was even worse than expected . However, big-picture plans without concrete details fell flat for investors this time around. It's Tesla's silver lining amid the EV market slowdown. But as beneficial as competitors were to Tesla this quarter, others seem to be gearing up for battle.

Persons: Jordan Strauss, Chelsea Jia Feng, Elon, Katherine Tangalakis, Hannah Getahun, that's, —, Musk, Toby Melville, BI's Nora Naughton, It's, BI's Jordan Hart, Sundar Pichai, Waymo, Jenny Chang, Rodriguez, Wall, Keith Lerner, Ed Yardeni, Michael M, Tyler Le, Jensen Huang, Rebecca Zisser, Biden, Benjamin Netanyahu, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Business, Chelsea, AP, Tesla, Getty, BI Supply, Nvidia, Big Tech, Hollywood, AWS, Microsoft, Paramount, Digital, Google, IBM, Ford Motors, Samsung, Galaxy, The Locations: Waymo, San Francisco, Phoenix, New York, Paris, London

☆ Tesla tanks 13% after earnings, dragging other EV stocks lower
▼ + stars: | 2024-07-24 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Tesla's stock dropped as much as 13% on Wednesday after reporting weak second-quarter earnings. AdvertisementTesla stock tumbled as much as 13% on Wednesday after the company's second-quarter results offered limited reassurance to eager investors. It marked the fourth straight quarter Tesla has fallen short of analyst forecasts. The taxi's unveiling, seen by many on Wall Street as a major AI-driven catalyst for Tesla, was originally scheduled for next month. "Tesla's muddling through the EV recession," Morgan Stanley analyst Adam Jones wrote, citing a quarter-over-quarter drop in capital expenditures.

Persons: Tesla, —, Elon Musk, Morgan Stanley, Adam Jones, Nikola, Dan Levy, Tesla's, Cantor Fitzgerald, Andres Sheppard, Gene Munster, Dan Ives, Sheppard Organizations: Service, EV, General Motors, Buick, Barclays, Deepwater Asset Management, Wedbush Securities, Tesla

☆ Musk is better than everyone else when it comes to businesses of the future, says Jim Cramer
▼ + stars: | 2024-07-24 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Musk is better than everyone else when it comes to businesses of the future, says Jim Cramer'Mad Money' host Jim Cramer looks at Tesla's earnings call and how CEO Elon Musk handles the company.

Persons: Jim Cramer, Elon Musk

☆ Elon Musk wants Tesla to invest $5 billion into his newest startup, xAI — if shareholders approve
▼ + stars: | 2024-07-24 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

Specifically, he asked: "Should Tesla invest $5B into @xAI, assuming the valuation is set by several credible outside investors? Tesla reported second-quarter earnings that fell shy of analysts expectations for the fourth consecutive quarter, and declining revenue in its core automotive segment. During the Tuesday earnings call, shareholders asked Musk whether Tesla might invest in xAI and integrate xAI's software, named Grok, into its vehicles. Musk replied, "Tesla is learning quite a bit from xAI. The $5 billion number did not come up until Musk posted the poll after the call.

Persons: Musk, Elon Musk, —, Tesla's, Tesla, It's, I'm, Grok Organizations: Cannes Lions, SpaceX, The Boring Company, X Corp, Tesla, CNBC Locations: Tesla's Texas, xAI

☆ Mark Zuckerberg agrees with Elon Musk that OpenAI's name is misleading but says Sam Altman deserves credit for how he runs the ChatGPT maker
▼ + stars: | 2024-07-24 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +1 min

Elon Musk has long criticized OpenAI for building closed-source AI models despite its name. Now, Mark Zuckerberg is dishing out the same criticism, calling the name "somewhat ironic" in a new interview. But, Zuck added, Sam Altman "deserves a lot of credit" for how he runs OpenAI and handles scrutiny. AdvertisementMonths after nearly duking it out in a cage fight, it looks like Mark Zuckerberg and Elon Musk have found common ground: They both think OpenAI is a misnomer. Zuckerberg suggested the AI organization headed by Sam Altman is ill-named in a Bloomberg Originals interview released Tuesday.

Persons: Elon Musk, Mark Zuckerberg, Zuck, Sam Altman, —, Zuckerberg, that's, it's Organizations: Service, Bloomberg, Business

☆ Tesla shares fall 7% in premarket trading after earnings miss
▼ + stars: | 2024-07-24 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

In this article TSLA Follow your favorite stocks CREATE FREE ACCOUNTElon Musk, CEO of Tesla. Antonio Masiello | Getty ImagesTesla shares fell more than 8% in premarket trading in the U.S. after the electric carmaker reported second-quarter earnings that missed expectations amid ongoing pressure in its auto business. Elon Musk's electric vehicle firm reported that automotive revenue dropped 7% year-on-year in the June quarter to $19.9 billion while its adjusted earnings margin also declined. Tesla shares are nearly 1% lower this year to date, while the S&P 500 has risen more than 16%. Musk envisions a world in which owners can authorize their Tesla vehicle to be used as part of an Uber-style ride-hailing service — and where the cars would drive autonomously.

Persons: Elon Musk, Tesla, Antonio Masiello, Musk, Robotaxis Organizations: Elon, Bulls Locations: U.S, China

☆ Stock market today: US stocks slide as high-profile earnings disappoint
▼ + stars: | 2024-07-24 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks tumbled on Wednesday as traders digested weak tech earnings. Tesla missed on earnings last quarter, while Alphabet said YouTube ad revenue fell short. AdvertisementUS stocks continued their slide on Wednesday, led by a decline in tech stocks after Alphabet and Tesla reported earnings for the second quarter. Investors mulled a disappointing round of earnings reports on Tuesday, with Tesla missing earnings estimates and Alphabet reporting that its YouTube ad revenue fell short the last quarter. Investors are eyeing a slew of coming high-profile earnings, with Meta, Apple, and Amazon on deck to report their financials next week.

Persons: Tesla, —, David Morrison, Will today's Organizations: Service, YouTube, Elon, Trade, Meta, Apple, Here's

☆ Tesla's still not making huge profits and probably won't for years. But these analysts and investors still love the company.
▼ + stars: | 2024-07-24 | by ( Shubhangi Goel | ) 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. "There are other companies that are $3 trillion market caps — I think Tesla can be in that league," he said. Related storiesTasha Keeney, a director at longtime Tesla investor ARK Invest, said on CNBC on Tuesday that ignoring Robotaxis today is a huge mistake. Ron Jewsikow, a Guggenheim analyst, said on CNBC that he is not worried about whether Tesla will be able to deliver its Robotaxis. AdvertisementIn China, Apollo, which is owned by Baidu, is offering rides for just over 10 cents a mile, Jewsikow said.

Persons: —, Tesla, Cybertruck, Elon Musk's, I'm, Gene Munster, Munster, Optimus, Tasha Keeney, it's, Price, Tesla optimist Daniel Ives, Ron Jewsikow, He's, Jewsikow Organizations: Service, Investors, Business, Deepwater Asset Management, CNBC, ARK Invest, Tesla optimist, Guggenheim, Baidu Locations: China

☆ Tesla's still not making big profits and probably won't for years — but analysts and investors still love it
▼ + stars: | 2024-07-24 | by ( Shubhangi Goel | ) 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. "There are other companies that are $3 trillion market caps — I think Tesla can be in that league," he said. AdvertisementAnother analyst sees Tesla's recent price hikes as a good sign. Ron Jewsikow, a Guggenheim analyst, said on CNBC that he is not worried about whether Tesla will be able to deliver its Robotaxis. AdvertisementIn China, Apollo, which is owned by Baidu, is offering rides for just over 10 cents a mile, Jewsikow said.

☆ Jim Cramer says Elon Musk's post-earnings 'manifesto' signals a chance to buy Tesla plunge
▼ + stars: | 2024-07-24 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +1 min

Tesla : The electric vehicle maker missed expectations on earnings per share (EPS) in the second quarter, and the stock dropped 12%. CNBC's Jim Cramer praised Tesla CEO Elon Musk's post-earnings conference call. "It was a manifesto of what he's thinking about long term," Cramer added. Dow stock Visa dropped more than 3%. Cramer said GE Vernova does not talk up its natural gas business because it wants to be known as clean energy.

Persons: Jim Cramer's, CNBC's Jim Cramer, Elon Musk's, Cramer, there's, Haviv Ilan Organizations: CNBC, Club, Dow, Visa, GE, Texas Locations: U.S

But all that attention isn’t translating into success at Musk’s core business, as Tesla reported another sharp drop in quarterly profit that has spooked investors. Shares in Tesla are down sharply premarket on the company’s results. That’s despite Tesla cutting costs and laying off more than 10 percent of its global work force. Among the troubles bedeviling the company are sluggish consumer demand and a price war with competitors that has dented profits. Tesla sold $890 million worth in the quarter, three times the figure in 2023.)

Persons: Tesla’s doldrums Elon Musk, Donald Trump —, Tesla

☆ Here's what we know about Tesla's robotaxis
▼ + stars: | 2024-07-24 | by ( Arjun Kharpal | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's what we know about Tesla's robotaxisCNBC's Arjun Kharpal, Steve Sedgwick and Arabile Gumede, discuss Tesla and Elon Musk's plans for robotaxis, and how the technology is developing.

Persons: robotaxis, Arjun Kharpal, Steve Sedgwick, Arabile Gumede, Elon Musk's Organizations: Tesla

☆ Elon Musk is probably getting a little nervous
▼ + stars: | 2024-07-24 | by ( Katherine Tangalakis-Lippert | Hannah Getahun | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewTesla on Tuesday had a lackluster earnings report that revealed the electric vehicle maker once again missed investor expectations. And Elon Musk is probably a little nervous. Advertisement"I want to be clear that was in Tesla's interest, not contrary to Tesla's interest," Musk said. In Q2 earnings, Tesla reported a 7% decrease in year-over-year automotive revenue, which contributed to the company's diminished profits.

Persons: —, Tesla, Elon Musk, Musk, xAI, Gene Munster, Dan Coatsworth, AJ Bell, Musk's, doesn't, Coatsworth Organizations: Service, Business, Deepwater Asset Management, CNBC, Tesla, Reuters

☆ Musk should focus on building affordable electric vehicles, strategist says
▼ + stars: | 2024-07-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMusk should focus on building affordable electric vehicles, strategist saysJohn Blank, chief equity strategist and economist at Zacks, talks through Tesla's automotive business and Elon Musk's newest startup xAI.

Persons: John Blank Organizations: Zacks, Elon

☆ Elon Musk's web of investments keeps getting more tightly interwoven
▼ + stars: | 2024-07-24 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +1 min

On Tuesday, Elon Musk floated the idea of Tesla investing $5 billion into xAI. But shareholders in the past have bought into Musk's whole entrepreneurial vision — rather than just its parts. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementShould Elon Musk spend money from one company he controls to invest in another? On Tuesday night on X, Elon Musk floated the idea, polling users whether Tesla should invest $5 billion into his burgeoning AI startup, xAI.

Persons: Elon Musk, Musk's, —, Elon, Musk, Tesla Organizations: Service, Business

☆ This French aerospace company is trying to lure US SpaceX workers after Elon Musk said he would relocate the company from California to Texas — and it may be working
▼ + stars: | 2024-07-24 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

Read previewA French aerospace company is trying to convince disgruntled American SpaceX employees to leave the US for Europe after billionaire Elon Musk announced he would relocate his rocket company from California to Texas. Stanislas Maximin, CEO of Latitude, jumped at the opportunity to poach any unhappy SpaceX employees suddenly staring down an interstate move. Maximin told CNBC that his LinkedIn post garnered some 200 messages and helped him increase his connections on the site by a third. "We have done it multiple times over," Maximin told CNBC of hiring foreigners. Musk has made the Lonestar State his home base in recent years, moving Tesla headquarters to Texas from California during the pandemic.

Persons: —, Elon Musk, Musk, Stanislas Maximin, Maximin, I'm, Lockheed Martin, Tesla Organizations: Service, SpaceX, Business, CNBC, Lockheed, LinkedIn, Lonestar State Locations: Europe, California, Texas

☆ DEI, explained: What’s the term Republicans are using to attack Kamala Harris?
▼ + stars: | 2024-07-24 | by ( Nicquel Terry Ellis | ) edition.cnn.com time to read: +14 min

Critics say DEI programs are discriminatory and attempt to solve racial discrimination by disadvantaging other groups, particularly White Americans. These diversity training efforts emerged around the time that affirmative action began by executive order from President John F. Kennedy. Despite the backlash against DEI programs and initiatives, many companies are standing firm in their support for DEI. And 71% of people surveyed said they think DEI training is important to “creating a positive workplace culture.”What does DEI look like at work? Thrivent’s DEI training teaches employees how to understand and bridge cultural differences in the workplace, Baker said.

Persons: Kamala Harris, Tim Burchett, CNN’s Manu Raju, Joe Biden, Harris, ” Burchett, CNN’s Wolf Blitzer, Susan Rice, “, ” Rice, didn’t, Bill Ackman, Elon Musk, it’s, Daniel Oppong, ”, Lyndon Baines Johnson, George Floyd’s, Dominique Hollins, WĒ360, John F, Kennedy, Ronald Reagan, Hollins, ” Hollins, Ipsos, ” Kelly Baker, Thrivent’s, Baker, Thrivent, ” Baker, Ella Washington, ” Washington, Washington, Christopher Rufo, Ryan P, Williams, ‘, ” Williams, Tesla, ” Musk, Musk, Mark Cuban, ” What’s, Ron DeSantis, Republican State Sen, Dave Murman, Sen, Danielle Conrad, ” Conrad, ” CNN’s Athena Jones Organizations: CNN, Democratic, Tennessee Republican, Chronicle, Higher Education, Pew Research Center, Elon, White, Equity, Civil, DEI, Opportunity Commission, Academy of Management Learning, Education, Colleges, Minneapolis police, Companies, College, University of Florida, of Governors, Georgetown University’s McDonough School of Business, Georgetown’s, Student Equity, Disability, Center, Women’s Center, Resource Center, Center for Multicultural Equity, “, Manhattan Institute, New York Times, Claremont Institute, SpaceX, Musk, SEC, Dallas Mavericks, Florida Gov, Higher, Republican State, Nebraska, Nebraska Democratic Locations: Black, Texas, Florida, U.S, Washington, America, ” Cuban, Texas, North Dakota, North Carolina , Tennessee, Utah, Nebraska

☆ A funny AI video tweeted by Elon Musk risks Xi Jinping's wrath as Tesla rakes in China revenues
▼ + stars: | 2024-07-23 | by ( Matthew Loh | ) www.businessinsider.com time to read: +1 min

Elon Musk tweeted a parody video of an AI fashion show that featured him, Bill Gates, and other prominent figures. And Xi Jinping was featured in a robe designed with a cartoon bear suspiciously like Winnie the Pooh. Xi was featured for only two seconds, but the video is a risky post given Tesla's operations in China. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOn Monday, Elon Musk tweeted an AI-generated video of the world's biggest figures sashaying down the aisle of a fashion show.

Persons: Elon Musk, Bill Gates, Xi Jinping, Pooh, Xi, —, Tesla Organizations: Service, Business Locations: China, Shanghai

☆ Russian lawmakers seek to punish troops using smartphones on Ukraine battlefields
▼ + stars: | 2024-07-23 | by ( Christian Edwards | Anna Chernova | ) edition.cnn.com time to read: +3 min

CNN —Russia’s lower house of parliament has proposed punishing Russian soldiers caught using smartphones while fighting in Ukraine, state media TASS reported, amid growing concerns that electronic devices can reveal troops’ location on the battlefield. According to a draft law supported by the State Duma Committee on Defense, carrying internet-connected cell phones whose data can identify Russian troops or the location of forces will be classified as a “gross disciplinary offense” punishable by up to 10 days of arrest. Both Russian and Ukrainian militaries have reportedly used enemy cell phones to identify targets during the war, scraping data from photos and messages to track coordinates and launch attacks. Although the Kremlin has acknowledged the risks posed by soldiers carrying cell phones, Russian military bloggers have criticized the draft law, claiming it shows the Duma’s lack of understanding of the nature of modern warfare. Russian soldiers are already banned from publicly distributing information that could reveal the identity or location of military personnel.

Persons: United Kingdom –, Elon, ”, let’s Organizations: CNN, TASS, State, Defense, Ukraine’s Security, Russia’s Defense Ministry, Kremlin, Veteran Records, Duma, Federation Council Locations: Ukraine, United States, Australia, Canada, New Zealand, United Kingdom, Ukrainian, Makiivka

☆ Tesla set to report second-quarter earnings after the bell Tuesday
▼ + stars: | 2024-07-23 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +4 min

Tesla is set to report second-quarter earnings after the bell on Tuesday. Although Tesla reported vehicle deliveries of 443,956 in the second quarter, a 4.8% decline from the year-earlier period, those numbers were better than analysts had expected. But Musk and his stalwart Tesla bulls and broader fan base have ambitions for the EV maker beyond making and selling cars. In 2021, Musk also began to promise that Tesla would develop and produce humanoid robots capable of factory work, at least. Tesla "deliveries" are not an audited financial metric, but are the closest approximation to sales reported by the company.

Persons: Elon Musk, The Beverly Hilton, Tesla, Elon, Musk, Donald Trump, InsideEVs Organizations: SpaceX, Tesla, The Beverly, LSEG, PAC, Trump, Republican, Pew Research, Democratic, Cox Automotive, Boring Company, X Corp, CNBC Pro Locations: Beverly Hills , California, U.S

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