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Elon Musk's private jets made 355 flights in 2024, data from jet-tracking company JetSpy shows. The jets' travel shows the billionaire's growing political involvement. To help shed light on how the world's wealthiest man spent his time in 2024, Business Insider charted Musk's private jets' travel using the jet-tracking service JetSpy. In total, Musk's jets made 31 flights to or from Palm Beach International Airport in 2024. It's also unclear whether he might have visited the Palm Beach, Florida, area for reasons other than a meeting with Trump.
Persons: Elon, Elon Musk, Tesla's robotaxi, Donald Trump's, Musk, It's, Trump, Tesla, Brandon Bell Organizations: Business, Gulfstream, White House, Trump, Palm Beach, , Palm Beach International Airport, Mar, Department of Government, PIA, Federal Aviation Administration, SpaceX, Olympics, Notre, International Energy Agency Locations: Palm, Mar, Trumpworld, Beach , Florida, Pennsylvania, Georgia, Washington ,, Washington, Palm Beach, Memphis, Hawthorne , California, Brownsville , Texas, Austin, Tesla's, France, Poland, Germany, Portugal, Indonesia, China, Paris, Bali, Seattle, Tokyo
Here are Wednesday's biggest calls on Wall Street: Bank of America reiterates Salesforce as buy The firm said Salesforce is still a top pick following earnings on Tuesday. Daiwa reiterates Nvidia as outperform The firm raised its price target on Nvidia to $160 per share from $125. Citi reiterates Marvell Technology as buy Citi raised its price target on the stock to $112 per share from $91. UBS initiates Gen Digital as buy UBS said the multinational software company has "double digit EPS growth" potential. "We are launching coverage on GEV with an OP rating and YE25 target price of $403.
Persons: Salesforce, Daiwa, Overachievement, KeyBanc, it's bullish, Trimble, Piper Sandler, Needham, Roku, Bernstein, Tesla, underperform Bernstein, Goldman Sachs, Goldman, Amazon, Jefferies, Wolfe, Evercore, Apple Organizations: Bank of America, Nvidia, Pinnacle, HSBC, Merck, Co, Fresenius, Novartis, JPMorgan, Piper, CTV, Citi, Marvell Technology, UBS, Gen Digital, GE Vernova, GE, Apple, JPMorgan downgrades, T Bank Locations: Arizona, Asia
Elon MuskTesla Optimus robot prototypes walk onto a stage. Screengrab from We, Robot livestreamElon Musk has been working on the Optimus humanoid robot for years. At Tesla's Robotaxi event last month, the robots poured drinks and played rock-paper-scissors with guests (though they were remotely controlled by humans). Outside Tesla, Musk personally invested in Vicarious when it was an AI startup working on general intelligence for robots. Vicarious has since been acquired by Intrinsic, an AI robotics company at Google's parent company, Alphabet.
Persons: Elon, Robot livestream Elon Musk, Musk, Tesla
Tesla's Chinese rivals are building their own humanoid robots to rival Tesla. EV startup Xpeng unveiled its Iron humanoid robot at its AI day event this month. The company said Iron was already deployed in its factories, joining BYD and Nio in using humanoid robots to build cars. AdvertisementTesla is facing fierce competition in China from local EV makers — and now they're building their own versions of Elon Musk's Optimus robot. AdvertisementThe scramble to incorporate humanoid robots comes as Elon Musk touts Tesla's Optimus robot.
Persons: Iron, , Tesla, Elon, Xpeng, Ubtech, Walker, BYD, Elon Musk, Tesla's Organizations: Service, , Aircraft, Dongfeng Motors, EV, Elon Locations: BYD, China, Tesla
Tesla stock surged 12% in premarket trading following Trump's election victory. Musk's big bet on Trump has boosted analysts' confidence in Tesla's future prospects. AdvertisementElon Musk's big bet on Donald Trump is already paying off for Tesla. AdvertisementIn his victory speech early Wednesday, Trump paid tribute to Musk's efforts, calling him a "super genius" and a "new star." Trump win an 'overall negative' for EV industryDespite the surge in Tesla shares, Trump's victory could be bad news for the wider EV market.
Persons: Elon Musk, , Elon, Donald Trump, Dan Ives, Musk, Gene Munster, Munster, Trump, Tesla's robotaxis Garrett Nelson, Ives, Nelson, Tesla, BYD Organizations: Trump, Service, Fox News, CNN, Electoral, Wedbush Securities, Tesla, Deepwater Asset Management, EV company's, Tesla's, CFRA Research, EV, Business Locations: Tesla, Butler , Pennsylvania, China
Its energy business grew by over 50% year over year, earning Tesla over $7 billion in revenue so far in 2024. Elon Musk said on Tesla's earnings call that the energy unit is "growing like wildfire." Revenue for Tesla's energy generation and storage business was nearly $2.4 billion in the third quarter of 2024, up 52% from the same period last year. Advertisement"The energy storage business is growing like wildfire, with strong demand for both Megapack and Powerwall," Musk said. The billionaire said that Tesla's Megapack factory in Lathrop, California, had hit an important production milestone of 200 units per week.
Persons: Tesla, Elon Musk, , it's, Elon Musk's, That's, Musk Organizations: Service, Tesla Locations: Lathrop , California, Shanghai, Megapack
AdvertisementTesla's earlier Robotaxi unveiling failed to impress investors, despite a surprise Robovan announcement and promises that unsupervised fully autonomous driving would be available in California and Texas next year. After the unveiling, Tesla's stock fell 10%. And the stock increase shows just how much analysts focus on the near-term and Tesla's automotive business, he said. The company also said in its earnings report that production on "more affordable models" remains on track for the first half of 2025. Musk also touted other aspects of Tesla's business, including its energy products and fully autonomous self-driving cars.
Persons: , Tesla, Musk, Piper Sandler, Dan Levy, Gene Munster, Mark Narayan Organizations: Tesla, Service, Elon Musk's, Analysts, Barclays, Deepwater Asset Management, RBC Capital Markets, Optimus Locations: California, Texas
The producer of "Blade Runner 2049" is suing Elon Musk and Tesla for copyright infringement. Alcon Entertainment said Musk used imagery inspired by the film at its "We, Robot" event. Advertisement"Blade Runner 2049" producer Alcon Entertainment filed a lawsuit against Tesla CEO Elon Musk on Monday, citing images he displayed at his big "We, Robot" event. "Blade Runner 2049" is a sequel to director Ridley Scott's dystopian sci-film "Blade Runner," released in 1982. "Alcon did not want BR2049 to be affiliated with Musk, Tesla, or any Musk company, for all of these reasons," Alcon added.
Persons: Elon, Tesla, Alex Proyas, , Elon Musk, Musk, Ridley, Alcon, Optimus, Hey Elon, Proyas Organizations: Alcon Entertainment, Service, Musk, Entertainment, BI Locations: Hollywood
Some analysts expect Tesla's third-quarter earnings to signal a turning point, while others see more pain ahead. AdvertisementTesla will report third-quarter earnings results after the market close on Wednesday, and Wall Street will be hyper-focused on the company's core auto business. However, some analysts on Wall Street expect the upcoming third-quarter earnings print will be a sign that the worst is behind Tesla. Here's what Wall Street expects from Tesla's upcoming earnings report. But perhaps more important than vehicle deliveries for Wall Street is Tesla's profit margins.
Persons: , Tesla, Dan Levy, Levy, Wells, Colin Langan, Langan, Dan Ives, Ives, Joel Levington, Levington Organizations: Service, Wall, Barclays, Tesla Energy, Tesla, Bloomberg Intelligence, Acura, Volvo Locations: Wells Fargo, Wells
Uber CEO Dara Khosrowshahi appeared on Friday's episode of the Hard Fork podcast. Khosrowshahi recently appeared on Hard Fork, a tech podcast, to discuss Uber's position in the autonomous vehicle industry. On the Hard Fork podcast, Khosrowshahi championed Waymo, saying he believed Waymo could best Tesla. Khosrowshahi spoke about Waymo's hardware during the Hard Fork podcast, saying, "I think that hardware costs scale down over a period of time. AdvertisementUber originally tried to walk the autonomous vehicle path alone, creating a self-driving car unit called Advanced Technologies Group.
Persons: Dara Khosrowshahi, Khosrowshahi, Tesla, Musk, , Tesla's, Uber, Waymo, PATRICK T, FALLON, John Krafcik, Elon Musk, Elon, Andrej Karpathy, Karpathy Organizations: Service, Waymo, Getty, Financial Times, Technologies, Aurora, Business Locations: Phoenix, Atlanta, Austin
In cities where those companies operate, drivers are already at risk of losing earnings or seeing an impact on their income. I think drivers in Austin and Atlanta will be in a similar position next year as Waymo has plans to launch there, too. AdvertisementEven though I'm driving for Uber and Lyft full-time, it was never meant to be a full-time gig. One of the main reasons I'm an Uber and Lyft driver is to be debt-free. I think Uber wants to be the central hub for all transportation, even if that means it eventually replaces human drivers entirely.
Persons: Tesla's, Tristan Thomas, Thomas, , Tesla, Elon Musk, I'm, Waymo, Uber, Lyft, there's, I've, Elon Organizations: Business, Service, Drivers Locations: Cruise, San Francisco , Los Angeles, Phoenix, Austin, Atlanta
SpaceX made history as it returned its Super Heavy booster to its launch site in Texas. For Elon Musk, it was a chance to prove the doubters wrong — and he did. SpaceX Starship. Related storiesAnd Musk earned online applause from legions of Starship fans, including Google CEO Sundar Pichai. Wall Street analysts attributed the decline partly to skepticism over Tesla's ability to deliver fully autonomous driving.
Persons: Elon Musk, , SpaceX's, Musk, SERGIO FLORES, Dan Huot, Sundar Pichai, Tesla, Gretchen Newsom, Lex Fridman, Artemis, Peter Thiel Organizations: SpaceX, Super, Service, AFP, Getty, National Press Club, Google, Twitter, eventual, Wall Street, Warner Bros Studios, California Coastal Commission, Federal Emergency Management, Elon Locations: Texas, California
Uber CEO Dara Khosrowshahi told the Financial Times that competing with Elon Musk is not easy. He said he would "love" to get Tesla's robotaxis on the Uber platform when it's ready to roll out. AdvertisementUber CEO Dara Khosrowshahi says going head-to-head with Elon Musk can be tough — so he's open to partnering with him. "Obviously, competing with Elon Musk is no easy matter, and we take nothing for granted; we really want to partner with the autonomous industry," he told the FT in an interview that aired Tuesday. Uber and Tesla didn't immediately respond to requests for comment from Business Insider, made outside normal working hours.
Persons: Dara Khosrowshahi, Elon Musk, , Khosrowshahi, Tesla, Uber, Musk, hasn't Organizations: Financial Times, Elon, Service, Tesla, Warner Bros, Business Locations: Burbank , California
Anthony Levandowski, who co-founded Google's Waymo, says Tesla has a huge advantage in data. Musk has promised self-driving Teslas for the better part of a decade. Likewise, Levandowski said he hoped for "a little more steak and less sizzle" on the substance of Tesla's self-driving technology. Related storiesYet perhaps few people understand the nitty-gritty of self-driving tech better than Levandowski. Uber's advantageWhile Tesla and Waymo compete for tech supremacy, Uber might be the frontrunner in the robotaxi race right now.
Persons: Anthony Levandowski, Google's Waymo, Tesla, Levandowski, , Elon, that's, Musk, Uber, Donald Trump, That's, a16z, Waymo, Dmitri Dolgov, Ben Thompson, Thompson, Levandowki Organizations: Business, Google, Service, Wall Street, Wayve, General Motors Locations: Pronto
CNBC's Jim Cramer on Monday opined on the continuous success of Big Tech stocks in the market, explaining why the Magnificent Seven, as well as Netflix , continue to rally as the bull market persists. "Even if you've missed these rebounds in the Magnificent Seven plus Netflix, don't, don't sweat the program," he said. The Magnificent Seven includes Amazon , Alphabet , Apple , Microsoft , Nvidia , Meta and Tesla , and many of these stocks have seen declines in recent months followed by strong rebounds. And despite Tesla's robotaxi flop, Cramer said it's unwise to short the stock and bet against CEO Elon Musk. "Other groups can roar, too, in this market, perhaps because there's just a lot of money going around."
Persons: CNBC's Jim Cramer, you've, Cramer, Apple, Elon Musk, hasn't, there's Organizations: Big Tech, Netflix, Microsoft, Nvidia, Meta, Apple, Federal Reserve Locations: China
Insider Today: Robotaxi reality check
  + stars: | 2024-10-13 | by ( Matt Turner | ) www.businessinsider.com   time to read: +5 min
On the agenda today:But first: Elon Musk's robotaxi got lost on the way to Wall Street. This week's dispatchTesla's upcoming Robotaxi TeslaRobotaxi dreams meet Wall Street realityElon Musk unveiled Tesla's robotaxi, along with a robovan and updates to its humanoid robot, at a flashy event in Los Angeles this week. Wall Street wasn't buying it. AdvertisementIt's tough to bet against Elon Musk, as many on Wall Street have discovered. Wall Street is taking note, and Amazon could soon face pressure to return some of its cash with buybacks or dividends.
Persons: , Microsoft's, Elon Musk's robotaxi, Tesla, Elon Musk, Musk, Alyssa Powell, Anand Selva, He's, who've, Selva, Chelsea Jia Feng, that's, Natalie Ammari, Vishal Persaud, SunPower, it's, Ibrahim Rashid Organizations: Business, Service, Warner Bros, Detroit, Elon, Citi Citi Bank, Getty, Citi, Big, Microsoft Locations: Los Angeles, Burbank, America
Tesla stock fell more than 9% on Friday, reducing Elon Musk's net worth. Though his net worth dropped by about $15 billion, Musk remains the world's richest man. The company's stock tumbled in the aftermath — and with it, CEO Elon Musk's net worth. According to the Bloomberg Billionaires Index, updated after the close of trading in New York, Musk's net worth fell by $15 billion. The company's stock value had continued its downward trend through early August then rebounded in September — bringing Musk's net worth to more than that of McDonald's and Pepsi.
Persons: Tesla, , Elon, Forbes, Musk, Tesla's, Morgan Stanley, Adam Jonas, Dan Ives Organizations: Elon, Service, Wall Street, Bloomberg, Pepsi, Business, Wall Locations: Los Angeles, Tesla, New York
Tesla fan and attendee Matthew Donegan-Ryan rode in the new Cybercab. Tesla fan and investor Matthew Donegan-Ryan attended the glitzy launch on a film lot at the Warner Bros. @_SFTahoe pic.twitter.com/0Xoubi9hY4 — Matthew Donegan-Ryan (@MatthewDR) October 11, 2024The Cybercab, Tesla's first robotaxi, was revealed alongside a 20-person Robovan. pic.twitter.com/iUD0aKThZa — Matthew Donegan-Ryan (@MatthewDR) October 11, 2024Donegan-Ryan was also surprised by how few cameras the Cybercab had. The Cybercab bears a stylistic resemblance to another Tesla vehicle, the Cybertruck, and Donegan-Ryan said that similarity was particularly apparent in person.
Persons: Elon Musk, Tesla, Matthew Donegan, Ryan, , robotaxi, 0Xoubi9hY4 — Matthew Donegan, Tesla's, Uber, Cybercab, Donegan, iUD0aKThZa — Matthew Donegan, Franz von Holzhausen, Lars Moravy —, wouldn't, Musk, they're, Dan Ives Organizations: Service, Warner Bros ., Warner Bros, BI, Tesla Staff Locations: Burbank , California
After Wall Street balked at Tesla 's highly-anticipated robotaxi unveiling, CNBC's Jim Cramer told investors not to make any moves on the stock. While he said he wouldn't recommend buying Tesla after Thursday night's event flopped, Cramer discouraged shorting the stock, saying it's "dangerous to bet against" CEO Elon Musk. While impressed by the look and concept of the robotaxi, Cramer said the event's demonstration lacked substance and failed to prove its technological prowess. By Friday's close, Tesla stock was down 8.78%, and Cramer said the market's reaction speaks for itself. "Look, Tesla has a big problem: the electric vehicle market turned out to be substantially smaller than was thought," Cramer said.
Persons: Tesla, CNBC's Jim Cramer, Cramer, Elon Musk, Tesla's, Musk, Friday's, Lyft, Uber, robotaxis Locations: Switzerland
Tesla's humanoid robot Optimus took a starring role at the company's Hollywood robotaxi event. The robots served drinks for attendees, posed for selfies, and even danced on a stage. AdvertisementElon Musk may have unveiled the robotaxi on a Hollywood set on Thursday night — but it was Tesla's Optimus robots that had the starring role. Tesla has previously released videos of the Optimus robot performing yoga stretches, picking up an egg, and squatting. AdvertisementAt the event, Musk said he expects the Optimus robot to cost $20,000 to $30,000 in the long term.
Persons: Optimus, Elon Musk, Tesla, , Elon, Musk, Matthew Donegan, Ryan Organizations: Hollywood, Service, Warner Bros, Optimus, selfies Locations: Los Angeles
A separate robotics startup, Starship Technologies, filed a US trademark application for "Robovan" in 2017. On its website, WeRide said it had received "over 10,000 indication orders from a leading express delivery company" for the car. AdvertisementIn July 2017, a company called Starship Technologies filed a trademark for "Robovan," per the United States Patent and Trademark Office. Starship, which specializes in autonomous delivery robots, was founded by Skype cofounders Ahti Heinla and Janus Friis. Unlike Tesla and WeRide, Starship Technologies' offering isn't a self-driving vehicle.
Persons: WeRide, , Elon Musk's, Tony Han, Han, Janus Friis, Musk, Tesla's, 4DDqJtGATU — Elon, Tesla Organizations: Starship Technologies, Service, CNBC, JMC, Ford Motors, Jiangling Motors Corp, Ford, United States Patent, Office, Skype, Mercedes, Benz, Tesla, Technologies, YouTube, Business Insider Locations: Guangzhou, China
Waymo's ex-CEO said Tesla isn't "serious about building a safe and accessible Robotaxi business." AdvertisementIt seems former Waymo CEO John Krafcik was unimpressed by Tesla CEO Elon Musk's much-hyped "We, Robot" event. Alongside the Robotaxi, Tesla also showed off a 20-passenger Robovan and its Optimus humanoid robots. He added: "If a company were serious about building a safe and accessible Robotaxi business, it would look nothing like what was shown, or said, last night." AdvertisementMusk teased Tesla Robotaxis in 2019.
Persons: Tesla, Waymo's, Elon, , John Krafcik, Elon Musk's, Musk, Krafcik, Tesla's Robovan, Donald Trump, Phil Koopman, Horacio Villalobos, Morgan Stanley, Gene Munster Organizations: Service, Warner Bros, Fifth, Business, Deepwater Asset Management Locations: Burbank , California
AdvertisementIf Elon Musk can fully deliver on his plans to make Tesla's Robotaxi the new go-to mode of transport, he could bring an end to the ride-hailing economy as we know it. "Tesla's vehicles, sensors, and software will all need to be approved in any market they hope to enter. "Until Tesla robotaxis are transporting 100,000 paying customers a week around major American cities like Waymo does, Tesla Robotaxi is nothing more than the latest work of fiction to come out of the Warner Bros. "We also believe TSLA could struggle to scale fleet operations without offering access to demand via Uber/Lyft." Uber is already preparing for a future of electric cars and autonomous vehicles without Tesla's involvement.
Persons: BYD, , Elon, aren't, Tesla, Uber, Musk, Jefferies, John Colantuoni, Paul Miller, Forrester, Dan O'Dowd, Waymo, I've, Gene Munster, Brian Baker, Matt Bryson, Dara Khosrowshahi, We're Organizations: Service, Warner Bros, Tesla, Warner Bros ., Asset, Jefferies, Tesla's, BYD, Aurora, AV Locations: Burbank , California
Why the Tesla robotaxi event left investors 'underwhelmed'
  + stars: | 2024-10-11 | 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 EmailWhy the Tesla robotaxi event left investors 'underwhelmed'Toni Sacconaghi, senior research analyst at Bernstein, joins CNBC's 'Money Movers' to discuss Wall Street's reaction to Tesla's robotaxi event, how Tesla compares in the race to full self-driving, and more.
Persons: underwhelmed, Toni Sacconaghi, Bernstein, Tesla
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe market was not impressed by Tesla's robotaxi event, says Jim Cramer'Mad Money' host Jim Cramer breaks down why the market wasn't impressed by the Tesla robotaxi event.
Persons: Tesla's, Jim Cramer
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