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Teslarati
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Tesla tops Cathie Wood’s stock picks, predicts $2,600 surge
- Cathie Wood, the Ark Invest founder, highlighted Tesla as her top stock pick during a podcast with Steven Bartlett, citing its convergence of robotics, energy storage, and AI.
- Ark Invest issued a $2,600 price target for Tesla in June 2024, which Wood reaffirmed recently, projecting the stock to reach this level within five years. Wood emphasized the role of Tesla's Optimus robots in driving productivity gains and creating new revenue streams.
- Elon Musk echoed Wood's optimism about Tesla's Optimus robots, stating that thousands of them would be working in Tesla factories by the end of the year and scaling up rapidly.
- Despite recent volatility in Tesla's stock price and challenges faced by the company, Wood and Ark Invest maintain their faith in Tesla's potential to redefine industries through AI and robotics, aiming for a $2,600 target as Tesla's advancements continue.
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Insider
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Elon Musk's feud with Trump likely won't blow up Tesla's robotaxi push, analysts say
- Elon Musk's feud with President Donald Trump resulted in Tesla's stock dipping 14% on Thursday before recovering some losses.
- Analysts believe the feud will not have a lasting impact on Tesla's business, including its robotaxi ambitions.
- Trump threatened to cancel government contracts with Musk's companies, while Musk criticized the GOP's spending bill that slashes EV tax credits.
- Despite the feud, analysts say there is little reason to believe the administration would hinder Tesla's robotaxi progress, as autonomy is central to physical AI development.
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Evannex
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Trump vs. Musk: The Political Power Play That Shook Tesla
- Tesla's stock plummeted after a public dispute between Elon Musk and Donald Trump over proposed rollback of EV tax credits.
- The clash began with Musk criticizing a legislation introduced by Trump to eliminate the federal $7,500 EV tax credit, leading to a heated exchange between the two.
- As tensions escalated, Trump threatened to cut government subsidies to Musk's companies, causing market turmoil and Tesla's stock to drop by 14.2%.
- Efforts are now being made to de-escalate the situation, with reports of arranging a call between Musk and Trump to address the issue and its impact on the EV market in the U.S.
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Insider
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The advice Elon Musk's lawyer gives his high-profile clients in times of crisis
- High-profile attorney Alex Spiro advises his clients to stay calm and focused during times of crisis.
- He suggests looking at the facts and evidence, rather than panicking.
- Spiro's advice includes taking a break, even suggesting having ice cream to cool off.
- He mentions that Elon Musk prefers cutting costs during uncertain times to maintain agility and rebuild if needed.
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TechCrunch
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Tesla’s Optimus robot VP is reportedly leaving the company
- Milan Kovac, the head of Tesla's Optimus humanoid robot program, is reportedly leaving the company.
- Tesla CEO Elon Musk aims to have 'thousands' of Optimus robots in their factories by the end of the year and scale up production rapidly.
- Kovac, who has been at Tesla for nearly 10 years, played a significant role in leading the development of Optimus since 2022.
- Ashok Elluswamy, the vice president of Tesla's AI software division, is set to take over the Optimus project following Kovac's departure.
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Insider
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The biggest bombshells and takeaways from Musk's fight with Trump
- Elon Musk and Donald Trump are engaged in a very public and contentious dispute with wide-ranging implications.
- The dispute between the world's richest person, Musk, and the most powerful person, Trump, has shed light on their working relationship's complexities.
- The fallout between Musk and Trump has led to significant financial consequences, with Tesla's valuation dropping by $138 billion and Musk's net worth decreasing by $34 billion.
- The disagreement could impact Tesla's stock performance, investor sentiment, and government contracts, potentially affecting Musk's businesses.
- Trump's threat to cut Musk's government contracts, particularly SpaceX's $22 billion federal contracts, could have repercussions on various projects, including SpaceX's involvement with NASA.
- Musk's consideration of forming a new political party has garnered significant support, signaling a potential shift in political alliances and divisions among his and Trump's followers.
- Both Musk and Trump have openly criticized each other, revealing personal conflicts and differing perspectives on their past and the developing situation.
- The escalating feud between Musk and Trump has highlighted their willingness to confront each other publicly, with Musk making bold claims about Trump's past and actions.
- The public fallout between Musk and Trump underscores the volatility of their relationship and the potential for ongoing conflicts between two influential figures.
- It remains unclear whether Musk and Trump will reconcile, but their public spat has exposed deep-seated divisions and the clash of egos between these prominent figures.
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Teslarati
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Tesla launches new feature that cold climate drivers will love
- Tesla has launched a new feature in its cars, specifically catering to drivers in colder climates.
- This new feature is an improvement to the heated steering wheel system, which heats up based on cabin temperature.
- Previously, the steering wheel heater only turned on automatically if the climate system was set to Auto.
- The enhancement impacts all five Tesla models and aims to enhance the driving experience for those in cold weather regions.
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Guardian
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The Guardian view on the Trump-Musk feud: we can’t rely on outsized egos to end oligopoly | Editorial
- The Trump-Musk bromance imploded via social media posts, with escalating attacks and denunciations between the two powerful figures.
- Trump and Musk engaged in a public spat, with threats, insults, and mutual accusations, showcasing the clash between their outsized egos and power dynamics.
- The rift between Trump and Musk highlights the dangers of relying on individuals with vast wealth and influence, emphasizing the need for safeguards against such power imbalances in politics.
- While the Trump-Musk feud has ended, the underlying issue of money and power in politics remains, with both Democrats and Republicans entangled with billionaire donors, calling for stronger democratic safeguards.
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Teslarati
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Tesla announces massive new achievement with 8 million cars produced
- Tesla has officially produced 8 million cars globally as announced by the company.
- The 8 millionth car, an Ultra Red Model Y, was produced at Gigafactory Berlin.
- This achievement comes just eight months after Tesla built its 7 millionth car at the Fremont Factory.
- Despite production halts earlier this year, Tesla managed to reach the 8 millionth car milestone, with Model Y being the best-selling vehicle for two consecutive years.
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Insider
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Trump is considering selling his Tesla after feuding with Elon Musk
- President Donald Trump bought a red Tesla Model S in a show of support for Elon Musk in March.
- After an explosive bust-up with the Tesla CEO, he's considering selling it, per a White House official.
- The dramatic disintegration of Trump and Musk's relationship sent Tesla stock plunging on Thursday.
- If Trump does decide to sell his Model S, he should probably get a move on as used Model S prices had dropped over the past year.
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Insider
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184
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A renowned Tesla bear says he's selling stock after Musk's 'disaster' feud with Trump
- Ross Gerber, a renowned Tesla bear, is selling more Tesla stock following Elon Musk's feud with President Donald Trump.
- Gerber believes Musk's actions are harming Tesla's business and sees risks for Musk's other companies like SpaceX.
- Tesla stock plummeted 18% during the feud before recovering slightly, prompting Gerber to sell some of his Tesla shares.
- Gerber has been critical of Musk and Tesla in recent years, previously selling a substantial amount of Tesla shares and predicting a 50% stock price drop.
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Insider
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Elon Musk's feud with the president is hurting his favorite cryptocurrency
- Dogecoin's price has fallen amid Elon Musk's public dispute with Donald Trump, dropping by 6% in the last 24 hours.
- Musk, a long-time supporter of Dogecoin, has been known to influence its price through social media mentions.
- The cryptocurrency has tumbled as Musk and Trump exchanged criticisms over the Republican tax and spending bill.
- Dogecoin saw a 12% drop in the last week as Musk and Trump publicly clashed, marking a significant strain in their relationship.
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Insider
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Tesla stock rises premarket after the Musk-Trump blowup sparked Thursday's wipeout
- Tesla stock rose 4.5% in premarket trading after a 14% drop on Thursday amid a public spat between CEO Elon Musk and President Donald Trump.
- The feud started when Musk criticized a bill for excessive spending, which led to escalating tensions throughout the week.
- Analysts believe that reconciliation between Musk and Trump is crucial for Tesla's performance as the company's stock closed below the $1 trillion market cap threshold.
- Wedbush Securities analysts expressed optimism that cooler heads would prevail, emphasizing the importance of a positive relationship between Musk and Trump for Tesla's success.
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Evannex
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Amazon Is Testing Humanoid Robots to Deliver Packages from Rivian Electric Vans
- Amazon is planning to test humanoid robots for delivering packages from Rivian electric vans.
- A special indoor testing area called a 'humanoid park' has been set up at Amazon's San Francisco office to simulate delivery scenarios.
- Amazon will use AI-powered software to control the robots and make delivery decisions.
- If successful, this initiative could automate last-mile delivery, reduce costs, and increase efficiency for Amazon.
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Teslarati
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Elon Musk and Donald Trump to speak with each other Friday: report
- Elon Musk and Donald Trump's feud seems to be thawing as White House aides schedule a call between the CEO and U.S. President on Friday.
- Musk criticized Trump over the administration's proposed bill, leading to a public spat between the two. Musk called for Trump's impeachment and Trump threatened to cancel government contracts with Musk's companies.
- White House aides have intervened to broker peace between Musk and Trump, with Trump stating that the feud is going well and highlighting his favorability ratings.
- Musk showed some willingness to reconcile after hedge fund manager Bill Ackman suggested it would benefit the United States, leading Musk to agree on making peace and reconsider SpaceX's Dragon spacecraft decommissioning.
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