Tensions between Elon Musk, CEO of SpaceX, and former U.S. President Donald Trump erupted publicly this week, casting a shadow over the future of key American aerospace and defense initiatives. At the heart of the dispute are $22 billion in federal contracts awarded to SpaceX, now potentially at risk due to an intensifying political confrontation. This development arrives at a critical juncture for national space policy, military satellite deployment, and broader U.S. innovation strategies.
Tesla Inc. $TSLA experienced a significant decline in new car sales in the United Kingdom during May 2024. Preliminary data from New AutoMotive research group, released on Wednesday, reveals that Tesla’s sales dropped by more than 45% year-on-year. The electric vehicle (EV) manufacturer sold 1,758 units in May 2024 compared to 3,244 in the same month last year. Market analysts attribute this decline partly to Tesla CEO Elon Musk's controversial political positions in Europe, which have reportedly alienated a segment of the UK consumer base.
Neuralink Corp., Elon Musk’s pioneering venture in the field of neurotechnology, has closed a landmark Series E funding round totaling 650 million USD. The round, disclosed on Monday, attracted significant attention from at least 11 major investors, including ARK Investment Management, Founders Fund, and Sequoia Capital. This latest injection of capital marks one of the largest fundraising events in the nascent brain-computer interface (BCI) sector, underscoring robust institutional confidence.
Latest figures reveal that Tesla Inc. $TSLA continues to face substantial headwinds in the French electric car market. According to automotive association Plateforme, deliveries in May dropped to just 721 new vehicles, plunging by 67% compared to the same month last year. This reading marks the weakest monthly result since July 2022, challenging CEO Elon Musk’s earlier assertions that the electric vehicle manufacturer had bounced back from a sluggish start to the year.
India, the world’s third-largest automotive market, has officially enacted a long-awaited electric vehicle (EV) policy aimed at incentivizing global automakers to localize EV production. The policy, which lowers import tariffs for manufacturers that commit to domestic investment, was seen as a direct overture to Tesla Inc. $TSLA. However, India’s federal government confirmed Monday that Tesla has decided not to pursue local EV production, leaving room for competitors such as Mercedes-Benz $MBG.DE and Volkswagen $VOW.DE to gain early-mover advantage in the subcontinent’s burgeoning EV landscape.
xAI, the artificial intelligence company founded by Elon Musk, recently responded to widespread reports that its chatbot, Grok, made a highly inflammatory statement claiming genocide against white citizens in South Africa. The claim sparked immediate backlash and concerns about the accuracy and bias of AI language models. xAI clarified that unauthorized changes were made to Grok’s programming, bypassing standard review protocols, and pledged to update the system to prevent similar issues in the future.
Elon Musk, CEO of Tesla $TSLA and owner of social media platform X, is reportedly laying the groundwork for a deeper involvement in U.S. politics, with a strategic pivot toward becoming a major financial backer of the Republican Party ahead of the 2026 midterm elections. Sources close to the matter suggest that Musk, having recently scaled back his role in former President Donald Trump's administration reforms, now views his wealth and social media influence as more potent political tools than government service.
Recent developments in the realm of artificial intelligence and social platforms have captured market attention as Elon Musk’s xAI Holdings enters negotiations with investors aiming to raise around USD 20 billion. According to Bloomberg News, sources familiar with the situation indicate that this fresh capital injection is intended to accelerate the growth of the newly merged startup, potentially positioning the company at a market value exceeding USD 120 billion. This article delves into the details of the negotiations, examines the business strategy behind the merger, and outlines key facets of this ambitious venture.
Neuralink, the pioneering company in brain implant technology founded by Elon Musk, is embarking on a significant expansion phase. Recent reports by Bloomberg News reveal that Neuralink is preparing to raise approximately $500 million in a new funding round, envisaged with a pre-money valuation of $8.5 billion. This substantial boost in capital follows an earlier valuation of $5 billion in 2023 based on private share transactions, showcasing an accelerating trajectory in technological and financial progress.
XAI Holdings, Elon Musk's startup that merges technologies in artificial intelligence (AI) and social media, is currently in active negotiations with potential investors. According to sources familiar with the matter, the company is seeking approximately $20 billion in funding. This significant sum highlights the ambitious goals of XAI Holdings and Musk's determination to establish a leading position in the market.
Tesla $TSLA experienced a noteworthy stock increase of 6.5% in Frankfurt on Wednesday, fueled by the company’s announcement that its automotive business profitability in the first quarter surpassed the lowest market expectations. Despite this boost, the results fell short of other critical metrics such as revenue and net income. Additionally, traders reacted to CEO Elon Musk's recent announcement that he would be reducing his involvement in U.S. administration duties to focus more on managing his various companies.
Investors in Tesla $TSLA are eagerly anticipating important updates regarding the company’s plans to launch a more affordable electric vehicle and its long-awaited robo-taxi service. Additionally, speculation surrounds whether CEO Elon Musk will step back from his involvement in the Trump administration to focus on the day-to-day operations of the company. Following the close of trading on Tuesday, Tesla is set to unveil significant information, marking potentially the most critical moment since the release of the Model 3 in 2017.
