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A Congressman is urging Elon Musk to give SpaceX Starshield access to US forces in Taiwan. AdvertisementElon Musk is facing pressure to provide SpaceX's Starshield satellite network to US defense personnel in Taiwan, according to Forbes. However, the outlet described a "group of US lawmakers" were involved in the calls for Musk to provide satellite access to US defense forces in Taiwan. The letter then called on Musk to brief the select panel regarding Starshield's capabilities in Taiwan by March 8, Forbes reported. The request could present challenges for Musk, who has considerable business ties in China, where Tesla has a significant manufacturing presence.
Persons: Elon Musk, Forbes, , Elon, Mike Gallagher, Musk, Gallagher, Taiwan's, Lai Ching, Tesla, hasn't, Joseph Wu Organizations: SpaceX, Service, Forbes ., Forbes . Wisconsin GOP, US Defense Department, Forbes, Street, Chinese Communist Party, New York Times, United States Congress, Times, Business Locations: Taiwan, China, Forbes, Forbes . Wisconsin, Russian, Starshield, Hong Kong
Discounts are getting bigger after it got harder to qualify for the $7,500 tax credit. In order to deal with a slowdown in demand for big, expensive electric cars — and dwindling federal incentives — dealers and manufacturers are pouring on discounts. By the end of last year, electric cars were seeing some of their highest discounts ever, according to Kelley Blue Book. Changes to requirements for a $7,500 electric vehicle tax credit have also put more responsibility on the dealer and the manufacturer to discount prices. We asked Edmunds for a list of the most discounted electric cars in January.
Persons: , Elon, Kelley, Edmunds Organizations: EV, Service, Tesla
If China EV Inc. were allowed to enter the US today or next year, the legacies would be gutted." The year Musk tittered at the idea of Chinese EVs overtaking Tesla, the country produced only 5,000 electric cars. It has more trade barrier protection from a China Auto Inc. onslaught, but it may not work forever. AdvertisementWe want to maintain an auto industry in the US — that's essential for jobs, national security, and for other sectors of the economy. Sure, Chinese EV makers are lean and mean, but they've never had to deal with international markets before.
Persons: Elon Musk, Warren Buffett, Le, haven't, carmakers, Jim Farley, Tesla, Xi, Andy Wong, Xi Jinping, Li Auto, BYD, Trump, Mary Lovely, Joe Biden's, Biden, it's, Lovely, they've Organizations: Tesla, Bloomberg TV, America's, GM, Ford, Sino, EV, China EV Inc, ascendance, Chery, US, Chinese Communist Party, CCP, Companies, SAIC, Energy Department, China Auto Inc, Peterson Institute, United Auto Workers, White, Auto Locations: Chinese, China, Beijing, Japan, Europe, North America, Brussels, Washington, Hungary, Mexico, Canada, America
Three heirs to the Walmart fortune have more than doubled their personal wealth since 2016. Rob, Jim, and Alice Walton have added more than $100 billion to their net worth in recent years. AdvertisementThree Walmart heirs have more than doubled their money since 2016, adding more than $100 billion to their combined fortunes. Legendary founder Sam Walton's three surviving children — Rob, Jim, and Alice — all hold top-20 spots on the Forbes rich list with personal fortunes of between $70 billion and $77 billion. This story is available exclusively to Business Insider subscribers.
Persons: Rob, Jim, Alice Walton, , Sam Walton's, Alice — Organizations: Walmart, Service, Forbes, Business
The world's richest person has faced problems at Tesla, SpaceX and X, ranging from a tanking Tesla valuation to an X advertiser exodus. Tesla's stock slide has erased about $188 billion from its valuation this year, according to Business Insider's calculations. The stock closed at just under $192, leaving it worth just over $600 billion at the close of trading Friday. Before you start feeling too sorry for Musk, though, he's still worth $208 billion. Justin Sullivan/Getty ImagesDelaware pay rulingTo add insult to injury, a Delaware judge also ruled against Musk's $55 billion Tesla pay package last month.
Persons: , Elon Musk, Tesla, Seth Goldstein, Morningstar, Roth, Craig Irwin, Warren Buffett's Berkshire Hathaway, Eli Lilly, he's, He's, Elon, Justin Sullivan, Musk, rkbH7mKNw2, Fidelity, Axios, Starlink, Russia's Organizations: Service, Elon, SpaceX, Business, Big Tech, Microsoft, Apple, Nvidia, Meta, Tesla, EV, Bloomberg, Wall, Getty Images Delaware, Musk's, Lone Star, Twitter, Insider Intelligence, X Locations: Delaware, Tesla, Texas, Ukrainian, Chernihiv, Ukraine, Kyiv, Houston
The House Select Committee on the Chinese Communist Party sent a letter on Saturday to Elon Musk demanding that U.S. troops stationed in Taiwan get access to SpaceX's Starshield, a satellite communication network designed specifically for the military. The letter, obtained by CNBC and first reported by Forbes, claimed that by not making Starshield available to U.S. military forces in Taiwan, SpaceX could violate its Pentagon contract, which requires "global access" to Starshield technology. The letter requests that Musk provide the House committee with a briefing on its Taiwan operations by March 8. Taiwan has been governing itself independently of China since the island split from the mainland during the 1949 civil war. "I think I've got a pretty good understanding as an outsider of China," Musk said on the All-In Podcast.
Persons: Elon Musk, Tesla, Forbes, Mike Gallagher, Gallagher, Tsai Ing, Lai Ching, Musk, I've, Jaushieh Joseph Wu Organizations: Fratelli, Chinese Communist Party, Elon, CNBC, SpaceX, Pentagon, U.S ., Rep, CCP, Starshield, Russia, U.S, Tesla, Foreign Locations: Italy, Rome, Taiwan, China, American, Shanghai, Hawaii
Why can’t we stop calling X, Twitter?
  + stars: | 2024-02-23 | by ( Saira Mueller | ) edition.cnn.com   time to read: +10 min
While some people (mainly fans of Musk) have embraced the X brand, most have not. Many people, both online and in person, still call the platform Twitter, and refer to posts as tweets. WHY ARE WE STILL CALLING THIS PLATFORM TWITTER. Even when you do see X, it's framed as "X, formerly Twitter". So the brand is what they say it is… it’s not that customers can’t stop calling it Twitter, it’s that they won’t.”
Persons: it’s, adieu, Elon Musk, — Jack Scalfani, , — Sherrye Pomeroy, Linda Yaccarino, It’s, ” Ramon Jimenez, Wolff Olins, , ” Marty Neumeier, , Musk, , Zoë Schiffer, Schiffer, Josh Adelson, X, x.com, ” Musk, wasn’t, Neumeier, “ It’s, ’ ” Elon Musk, Alain Jocard, James Withey, Kirill Kudryavtsev, Withey, — Sandy Horne Organizations: CNN, Twitter, Premium, Twitter Twitter, Global, Merriam, Webster, Oxford English, Liquid Agency, Elon, Musk, Twitter Inc, X Corp, Getty, The New York Times, Apple, Adobe, Google, Strategy, Innovation, Nissan, Datsun Locations: @sherrye_pomeroy, San Francisco, Paris, AFP, Frankfurt, Germany, @SandyHorne61
That night, Musk wrote multiple posts on X slamming Google. "I'm glad that Google overplayed their hand with their AI image generation, as it made their insane racist, anti-civilizational programming clear to all," Musk wrote in one of the posts. "This nut is a big part of why Google's AI is so racist & sexist," Musk wrote on X on Thursday. pic.twitter.com/NC9nIi2GcV — Elon Musk (@elonmusk) February 22, 2024BI ran two separate searches on Google with the same keywords Musk used. Representatives for Google did not immediately respond to a request for comment from BI sent outside regular business hours.
Persons: , Elon, Musk, Gemini, that's, Jack Krawczyk, Krawczyk, I’m, NC9nIi2GcV — Elon, Sam Altman's OpenAI, Grok Organizations: Service, Google, Business, Business Insider, BI
In today's big story, we're looking at Wall Street's love affair with Nvidia (and AI) while Big Tech still grapples with how to use the tools . Since Nvidia's GPUs sit at the center of the AI revolution, the company's success suggests the hype around the tech is warranted. One issue is bias showing up in AI tools . AdvertisementInternal documents show that Amazon is warning its employees not to use third-party generative AI tools for work , BI's Ashley Stewart and Eugene Kim report. It's an interesting acknowledgement of the risks involved with using AI tools — especially when Amazon is pitching its own chatbot to customers .
Persons: , It's, Michael M, Tyler Le, it's, Matthew Fox, Wall, Jensen, Kathleen Brooks, XTB, BI's George Glover, Chelsea Jia Feng, — ChatGPT, Monica Melton, BI's Ashley Stewart, Eugene Kim, Paul Morigi, Jenny Chang, Rodriguez, Goldman, Joe Duran, Jensen Huang, Huang, Reddit, Sam Altman, Elon Musk, Gemini, isn't, RJ Scaringe, Rivian, Scaringe, Steve Conine, Niraj Shah, Lucas Jackson, Wayfair, Bruce Dixon, they'd, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, Nvidia, Big Tech, Getty, Nasdaq, Nikkei, GameStop, SEC, CNBC, EV, Warner Bros Discovery Inc, Hyatt Hotels Locations: Paul, New York, London, Chicago
The Tesla Cybertruck is impressive and worrying
  + stars: | 2024-02-23 | by ( Peter Valdes-Dapena | ) edition.cnn.com   time to read: +9 min
Then, in 2019, Elon Musk unveiled the Tesla Cybertruck, a bare metal box on wheels. Even when I parked a rented Tesla Cybertruck next to a hot-pink McLaren supercar in a shopping center parking lot in California, the people in the McLaren couldn’t stop talking about the Cybertruck. Peter Valdes-Dapena/CNNThe Tesla Cybertruck looks like nothing else on the road. There’s a lot to like about the Cybertruck, but it also embodies a disturbing level of individual arrogance in hard, unforgiving steel. The Tesla Cybertruck's simple interior is nice enough but, with hardly any switches or knobs, this is the easy part.
Persons: Tesla, Elon Musk, who’d, Peter Valdes, Walter Isaacson’s, Musk, It’s, CNN Tesla, I’d, haven’t, there’s Organizations: Laguna Beach , California CNN, Ford, Chevrolet Silverado, GM, McLaren, CNN, Tesla, SpaceX, Goodyear, Lamborghini, Ferrari, General Motors, Silverado EV Locations: Laguna Beach , California, California, Turo
Elon Musk's firm Neuralink said it's successfully implanted a brain chip in its first human patient. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk's futuristic company Neuralink has implanted a brain chip into its first human patient. In 2019, Musk said Neuralink was aiming for approval for human trials by the end of 2020. In November last year, the company faced renewed scrutiny over the deaths of Neuralink's test monkeys.
Persons: Elon, Neuralink, it's, , Musk, Gary Gensler, Stephen Hawking Organizations: Service, Elon, FDA, Reuters, Food and Drug Administration, Wired, SEC
Google just can't seem to catch a break
  + stars: | 2024-02-23 | by ( Hasan Chowdhury | ) www.businessinsider.com   time to read: +4 min
The search giant announced a major upgrade to its AI model Gemini. Google under fireGoogle's big problem came after Gemini users started to report problems this week with its image-generation feature. For Google, the moment is one that casts a shadow over real advances it has made in AI to keep it neck-and-neck with competitors. In part, it's because the Gemini image generation blunder really is as bad as people say. Google CEO Sundar Pichai has previously said he feels "very comfortable" about where the company is with its AI mission.
Persons: , Gemma, Gemini, Elon, Musk, Nathan Lambert, OpenAI's, haven't, It's, Sundar Pichai Organizations: Service, Microsoft, Business, Google, Gemini, Allen Institute, AI
Google paused Gemini's image generation feature following backlash from users claiming it was "woke." "I'm glad that Google overplayed their hand with their AI image generation," Elon Musk wrote on X.Musk accused Google of running "insane racist, anti-civilizational programming" in their AI models. AdvertisementThe gloves are off, and Elon Musk isn't playing nice with Google. This was after Google on Thursday paused its chatbot Gemini's image generation feature, following backlash from some users who claimed the feature was "woke." "I'm glad that Google overplayed their hand with their AI image generation, as it made their insane racist, anti-civilizational programming clear to all," Elon Musk wrote in one of his X posts on Thursday.
Persons: Elon Musk, Musk, Organizations: Google, Service, Business
Kari Bingen director of the aerospace security project and senior fellow in the international security program at the Centre for Strategic International Studies. Space-based anti-satellite nuclear weapons — or so-called space nukes — are a type of weapon designed to damage or destroy satellite systems. "It's an indiscriminate weapon," Bingen said. The deployment of a space-based nuclear weapon would mark a major advancement of Russia's military capabilities and a serious escalation of geopolitical tensions. Kari Bingen director of the aerospace security project and senior fellow in the international security program at the Centre for Strategic International Studies.
Persons: Vladimir Putin, Alexander Ryumin, Mike Turner, Joe Biden, It's, Kari Bingen, Bingen, Juan Barreto, Putin, CNBC's Silvia Amaro Organizations: Sputnik, Chelyabinsk, Afp, Getty, U.S, White, CNBC, . House Intelligence, Bloomberg, Centre, Strategic International Studies, Analysts, Strategic International, United Nations Office, Outer Space Affairs, Elon Musk, Reuters, U.S ., Space Foundation, The, NATO, General, Saturday, Munich Security Conference Locations: Russian, Chelyabinsk Region, Chelyabinsk, Washington, Moscow, Russia, Ukraine, China, Bogota, U.S, The U.S
CNBC's Jim Cramer said Thursday he believes Jensen Huang — the co-founder and CEO of leading artificial intelligence chipmaker Nvidia — is a bigger visionary than billionaire entrepreneur Elon Musk, whose panoply of companies includes Tesla , rocket maker SpaceX and brain-tech startup Neuralink. Cramer's Charitable Trust, the portfolio used by the CNBC Investing Club, has long been invested in Nvidia. Cramer has espoused the brilliance of Huang for years and even re-named his dog Nvidia. Ahead of earnings this time, Cramer equated Huang to popstar Taylor Swift , saying their success is unparalleled in their respective fields. And Musk is creating, singlehandedly, a way to be able to deliver things," Cramer continued.
Persons: CNBC's Jim Cramer, Jensen Huang —, Nvidia —, Elon Musk, Jensen, Cramer, Huang, Leonardo da Vinci, popstar Taylor Swift, Musk, Barnum Organizations: Nvidia, SpaceX, Trust, CNBC, Microsoft, Apple, Cramer's Trust, Ringling Bros, Barnum, Bailey Locations: Santa Clara , California
CNN —Nvidia CEO Jensen Huang’s wealth saw a major boost on Thursday as the company he cofounded in 1993 surged in value. Huang, 61, is now worth an estimated $68.1 billion, passing Charles Koch and rapidly gaining on members of the Walton family, who own Walmart, which has a roughly $471 billion market cap. Huang has been at the helm of Nvidia since its beginning, serving as co-founder, CEO, president and board member. Shares of AMD (AMD) were 11% higher on Thursday and Microsoft (MSFT) rose 2%. But the company’s soaring stock price over the past year — shares grew around 230% in 2023 — means Nvidia is now deeply important to the broader market, too.
Persons: Jensen, Huang, Charles Koch, Walton, Elon Musk, Bernard Arnault, Jeff Bezos, Chris Malachowsky, Curtis Priem, Priem, Dan Morgan, Goldman Sachs, ” CNN’s Clare Duffy, Nicole Goodkind Organizations: CNN, Nvidia, Bloomberg, Walmart, Elon, Oregon State University, Stanford University, Devices, Wall Street, AMD, Microsoft, IBM, Synovus Trust Company, Google, Cisco Locations: Malachowsky
Elon Musk's social media platform X said Thursday it will block certain accounts and posts from India in response to executive orders by the government. X said it did not agree with the order but failure to comply would subject the company to "potential penalties including significant fines and imprisonment." Tens of thousands of Indian farmers — mostly from the northern state of Punjab — have been protesting since mid-February in renewed calls for better crop prices which were promised to them in 2021. In October, the Modi government warned Musk that X would have to comply to country's new and upcoming IT rules. However, it has written an appeal challenging the Indian government with accounts that are pending to be blocked, the company said.
Persons: Elon, X, Jack Dorsey —, Musk —, Narendra Modi's, Modi, Musk, Naman Tandon Organizations: Global Government Affairs, CNBC, country's Ministry of Information, Broadcasting, Reuters, Twitter Locations: Punjab, Haryana, Ambala, India, New Delhi, Delhi, Pakistan, Sri Lanka
AdvertisementInterstellar travel is only something humanity has achieved in science fiction — like Star Trek's USS Enterprise, which used antimatter engines to travel across star systems. "Annihilation of antimatter and matter converts mass directly into energy," Weed, cofounder and CEO of Positron Dynamics, a company working to develop an antimatter propulsion system, told Business Insider. Space travel at record speedProxima's star system, shown here, could be reached in just five years with antimatter-powered technology. For example, let's take a trip to our nearest star system, Proxima, about 4.2 light years away. And since the '80s, there's been talk of thermal antimatter engines, which would use antimatter to heat liquid, gas, or plasma to provide thrust.
Persons: Elon Musk, Ryan Weed, Weed, Brice, Maximilien, Gerald Jackson, Forbes, It's, Jackson, he's, Eugen Sänger, there's, Paul M, Sutter, Steve Howe, Howe Organizations: Enterprise, Dynamics, Southern, NASA, CERN, Fermilab, Hbar Technologies, Space, Alpha Locations: Switzerland, Austrian
First American's chief economist told Fortune that lower mortgage rates will cool price growth. First American chief economist Mark Fleming told Fortune that the pace of price growth has likely topped out because mortgage rates are poised to decline this year. The hikes fueled an increase in 30-year mortgage rates to more than 8% in October — a two-decade high. AdvertisementLower mortgage rates promise to boost demand, as buyers will be able to afford more expensive homes once again. "Shark Tank" investor Barbara Corcoran disagreed, predicting they would pop by 15% or 20% once mortgage rates dropped to about 5%.
Persons: Fortune, , Mark Fleming, Sellers who'd, they'd, Fleming, Elon Musk, Barbara Corcoran Organizations: Service, First, Business
Elon Musk has been nominated for the Nobel Peace Prize by Norwegian MP Marius Nilsen. Nilsen said Musk had defended free speech and increased knowledge of Earth and space. Elon Musk has long described himself as a "free speech absolutist." It's a stance that's certainly not lost on Norwegian lawmaker Marius Nilsen, who thinks the billionaire is worthy of the Nobel Peace Prize as a result. Musk was nominated for the prize by Nilsen, who announced it in local publication Agderposten.
Persons: Elon Musk, Marius Nilsen, Nilsen, Musk, Donald Trump
NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Elon Musk might want to thank the workers who went against his orders. Twitter employees ignored Musk's demand to reveal the company's data to reporters — and may have saved him from another hefty charge from the Federal Trade Commission. This story is available exclusively to Business Insider subscribers.
Persons: , Elon, Twitter —, Musk Organizations: Service, Federal Trade Commission, FTC, Twitter, Business
Elon Musk has had it with Delaware — but don't expect other corporations to flee the business-friendly state, too. Musk also specifically went after the judge who ruled to void his pay package, Kathleen McCormick, calling her an "activist and politician" in an X post. "The reason Elon Musk frequently escapes account from other judges is because they don't see through his phantabulating," Lauren Pringle, editor of the Chancery Daily, which covers Delaware courts, told the outlet. Advertisement"I don't expect a mass migration of firms from Delaware," Michal Barzuza, a professor at the University of Virginia who researches corporate law and governance, told the Post. So, despite Musk's latest crusade against the state, it seems unlikely many other Delaware-based corporations will jump ship anytime soon.
Persons: Elon Musk, Musk, Lawrence Cunningham, Kathleen McCormick, McCormick, Lauren Pringle, Michal Barzuza, John Coates, Fortune, there's, Coates, Musk's Organizations: SpaceX, Business, Fortune, Markel Group, Constellation Software, Washington Post, Chancery, University of Virginia, Harvard Locations: Delaware, Texas
Rivian's cash and cash equivalents were $7.86 billion at the end of the December quarter, compared with $7.94 billion in the preceding three-month period. However, revenue for the October-December period stood at $1.32 billion, above Wall Street estimates of $1.26 billion, according to LSEG data. Rivian has been posting a loss on every vehicle it sells and expects to record its first quarter of positive gross margin later this year. The company's R2 platform, which is expected to be cheaper and smaller, is set to be unveiled early next month. The company reported a net loss of $1.52 billion for the fourth quarter ended Dec. 31, compared with a loss of $1.72 billion a year earlier.
Persons: Rivian, RJ Scaringe, Elon, shying, Tesla, Lucid Organizations: Visible, Tesla Locations: New York, Georgia
Not every CEO in charge of a publicly traded stock market giant gets to act like Elon Musk . But her tenure as chair came in for criticism last month after a Delaware judge voided Musk's $55.8 billion pay package approved by the Tesla board in March 2018. At trial, Denholm was not sure whether the Disclosure Committee was fulfilling its obligations under the SEC Settlement," McCormick's opinion noted. AdvertisementMcCormick also drew attention to how Musk changed his title to "Technoking of Tesla" in March 2021. Musk is also seeking to reincorporate Tesla in Texas from Delaware following the court decision in the state on his pay package.
Persons: Elon, Robyn Denholm, Denholm, She'd, Tesla, Musk, Judge Kathaleen McCormick, Judge McCormick, that's, McCormick, Musk's, , Technoking ”, Elon Musk, Antonio Masiello, , , reincorporate Tesla Organizations: Juniper Networks, Telstra, Blackbird Ventures, Business, Securities and Exchange Commission, SEC, New York Times, Board Locations: Australian, Delaware, Tesla, Texas
A SpaceX Falcon Heavy rocket, carrying the Arabsat 6A communications satellite, lifts off from the Kennedy Space Center in Cape Canaveral, Florida, April 11, 2019. One of SpaceX's senior executives is leaving, CNBC has learned, in a rare high-level departure from Elon Musk's space company. Tom Ochinero, SpaceX senior vice president of commercial business, resigned on Monday, people familiar with the matter told CNBC. Ochinero, like many of SpaceX's dozen or so senior executives, has been with the company for more than a decade. He started his career at SpaceX as an engineer helping design the nosecone used on its Falcon 9 and Falcon Heavy rockets.
Persons: Tom Ochinero Organizations: SpaceX, Kennedy Space Center, CNBC Locations: Cape Canaveral , Florida, Elon
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