Tesla Financial News

Investing.com — Gary Black has typically been a vocal supporter of Tesla (NASDAQ:TSLA), but a recent filing has revealed that the Chicago-based portfolio manager has cut his fund's position in the electric vehicle (EV) giant.

Deutsche Bank analysts expect Tesla's (NASDAQ:TSLA) first-quarter deliveries and earnings to miss current Street expectations by a wide margin, the bank said in a note Monday.

Elon Musk said on Monday his artificial intelligence startup xAI would open-source its ChatGPT challenger "Grok" this week, days after he sued OpenAI for abandoning its original mission in favor of a for-profit model. The billionaire has warned on several occasions against the use of technology for profit by big technology companies such as Google.

When David Finkelstein and his wife first got their new Hyundai EV, they drove it for months without a hitch. Then, the Ioniq 5 SUV started to repeatedly fail, rendering it inoperable. He couldn’t even open the door at times.

FRANKFURT (Reuters) — Tesla (NASDAQ:TSLA)'s German gigafactory near Berlin could be supplied with electricity again from Monday, the power firm in charge of fixing the ongoing power outage, which has downed the plant since March 5, said.

Toyota Motor. Not long ago, it looked as if Toyota had fallen dangerously behind in electric vehicles. Tesla, the electric car pioneer, has grown rapidly and become the world's most valuable automaker. Seeing Tesla's success, other companies, such as General Motors and Ford Motor, concluded that large numbers of consumers were poised to switch to battery-powered cars and trucks and began investing tens of billions of dollars to catch up. Toyota, however, was more deliberate — or lethargic, its critics would say. It has introduced just two fully electric models in the United States so far, betting that its gas-electric hybrids and plug-in hybrid vehicles, which it has become known for, would remain popular and were sufficient to address climate change for now.

Also Read: Elon Musk's X set to take on YouTube with upcoming TV App, long-form videos Meanwhile, Musk announced that long-form videos will soon be available on smart televisions, after Fortune magazine reported that social network X planned to launch next week a TV app for Amazon and Samsung users. The platform rolled out an early version of video and audio calling for some users last October, after Musk had said he planned to turn it into a super app offering services from messaging to peer-to-peer payments.

Elon Musk, the CEO of Tesla and owner of X (formerly Twitter), has experienced a significant decrease in his wealth this year. According to the Bloomberg Billionaire's Index, Musk's fortune has plummeted by almost 40 billion dollars since the beginning of 2024, bringing his net worth to $189 billion. This decline has pushed him down to the third spot on the list of the world's richest individuals, behind Bernard Arnault of Louis Vuitton and Jeff Bezos of Amazon. Bezos briefly overtook Musk but was later replaced by Arnault. The primary reason for Musk's financial setback is attributed to the decline in Tesla's share price, which has dropped by nearly 29% this year. Additionally, a Delaware court rejected a $55 billion compensation package for Musk, further contributing to his wealth reduction.

By Akash Sriram

Germany’s top prosecutor has taken over the investigation into an alleged arson attack on the power supply of the electric car company Tesla near Berlin

The largest weekly outflow on record for technology stock funds hasn’t dimmed the broader euphoria that is driving US equities to “ferocious” gains, according to Bank of America Corp. strategists. 

Nvidia Corp’s scorching rally has added more than $1 trillion in value this year alone, sending it well above the level where it last split its shares. Some see the AI giant well placed to do so again. The company last announced a four-for-one stock split in May 2021, when it was trading at about $600 per share. Today, the stock is nearing the $1,000 level, extending last year’s 240% surge. While bulls argue that its valuation based on future earnings growth is relatively cheap, some potential investors may balk at the price.

During the Asian session, Bitcoin price is trading at $67,500 with a near 1% increase on Friday. This growth parallels the significant strides within the Bitcoin ETF sector, exemplified by the Volatility Shares 2X Bitcoin Strategy ETF (BITX) nearing a milestone of $1 billion in assets.

Arkham Intelligence has allegedly pinpointed the Bitcoin addresses belonging to Tesla and SpaceX, with holdings valued at over $1.3 billion.

By Lewis Jackson and Stella Qiu

By Mike Scarcella

Despite the broad-based tech bull market, times haven’t been easy in the EV space. From big boys like Tesla (NASDAQ:TSLA) and BYD (OTC:BYDDF) to emerging startups such as Canoo (NASDAQ:GOEV) and Sono Group (OTC:SEVCQ), the industry appears to have lost momentum on both the equity and financial sides. 

Stocks finished the day mostly higher, with the NASDAQ retracing 61.8% of the day before yesterday’s declines at its peak yesterday.

SYDNEY (Reuters) — Tesla (NASDAQ:TSLA) said on Thursday it is quitting Australia's major auto lobby and resigning from its board, accusing the group of misleading consumers over the government's proposed fuel efficiency standards and the potential impact on car prices.

Vinod Khosla, who is the cofounder of Sun Microsystems and the founder of Khosla Ventures, has called out Elon Musk for suing OpenAI. He termed Musk's move «a case of sour grapes». Khosla has been an investor in OpenAI since 2019 when the company became «for profit».

OpenAI has attacked a lawsuit from Elon Musk, saying he supported making the ChatGPT maker a for-profit company