Tag: Tesla CEO

Technology

Microsoft president goes to Europe to shape AI regulation debate

Microsoft President Brad Smith on Thursday talked up the benefits of regulating artificial intelligence and how the U.S. software giant can help, reiterating a message to a Brussels audience that he delivered in Washington last month.Together with Twitter-owner and Tesla CEO Elon Musk, Smith has sought to court regulators and lawmakers with calls for regulating AI, a technology that has drawn massive public interest with the arrival of Microsoft-backed OpenAI's ChatGPT. Big Tech has shared suggestions on how best to regulate AI, which could help to blunt some of the impact of such rules on their business. The European Union is working out the details of rules known as the AI Act, a global first that could set the benchmark for other countries."Our intention is to offer constructive con...
Technology

Elon Musk grabs spotlight again; from enigmatic dot to AI, check out his latest reactions

Elon Musk, the CEO of SpaceX and Tesla, has been making waves with his recent comments and reactions on social media. From the unfathomable and enigmatic dot (.) tweet to AI-generated images, Musk has been grabbing eye-balls time and again.One of his tweets that caught the attention of many was when he expressed his desire to confront late-stage civilization collapse when he grows up. The statement sparked intrigue and speculation about his views on the future of society. Musk also took to Twitter to celebrate the success of the Tesla Model S Plaid, which officially became the fastest battery electric vehicle (BEV) on the Nürburgring. His response, "The Tesla Plaid Model S is incredible". Furthermore, He recently shared a tweet featuring a single dot, leaving the online community puzzl...
Technology

Elon Musk Is Willing to Bet Tesla’s Profits on a Driverless Dream

Elon Musk is years behind on his ambition to render Tesla Inc.'s cars fully autonomous. He's now saying in no uncertain terms that he's willing to bet the company's profit margins on making it happen.Musk said on a conference call last week that Tesla has the wherewithal to sell cars at “zero profit” and then earn immense sums later off driverless software. The trouble with that for investors? His predictions since at least 2019 that autonomous Teslas are just around the corner haven't panned out. “We're the only ones making cars that technically we could sell for zero profit for now, and then yield actually tremendous economics in the future through autonomy,” Musk said April 19. “I'm not sure how many of you will appreciate the profundity of what I've just said, but it is extremely s...
Technology

Elon Musk Nears World’s Richest Title Again

Elon Musk is closing in on recapturing his title as the world's richest person since falling behind Bernard Arnault in December, thanks to Tesla Inc.'s 70% rise this year. It may take a bit longer for Musk to overtake the French luxury-goods titan, though, after disclosing this week he gave 11.6 million Tesla shares to unnamed charitable causes between August and December. The stock was worth about $1.9 billion, based on closing prices on the days Musk donated the securities. The disclosure comes as Musk, 51, has narrowed the gap to Arnault to less than $10 billion amid signs of growing demand for Tesla's electric vehicles. He now has a fortune of about $184 billion after his latest donation, according to the Bloomberg Billionaires Index. That's down from a peak of more than $3...
Technology

Musk Tells Tweet Fraud Jury He Has No Trouble Raising Money

Elon Musk told a jury he was confident he could have pulled off his proposal 4 1/2 years ago to take Tesla Inc. private, saying he never has trouble raising money for his companies. Elon Musk told a jury he was confident he could have pulled off his proposal 4 1/2 years ago to take Tesla Inc. private, saying he never has trouble raising money for his companies. The chief executive officer, in his third day on the witness stand, was defending the legitimacy of his assertion in an August 2018 tweet that he had “funding secured” for the take-private transaction. “Every financing round I've had has been oversubscribed,” he testified Tuesday in San Francisco federal court in response to friendly questions from his own lawyer. “It's not a problem for me to raise money. I've done a goo...
Technology

Tesla turns up heat on rivals with global price cuts

Tesla Inc has slashed prices globally on its electric vehicles by as much as 20%. The move marks a reversal from the automaker's strategy over the last two years when new vehicle orders exceeded supply. Tesla Inc has slashed prices globally on its electric vehicles by as much as 20%, extending an aggressive discounting effort and challenging rivals after missing Wall Street delivery estimates for 2022. The move marks a reversal from the automaker's strategy over the last two years when new vehicle orders exceeded supply. It comes after CEO Elon Musk warned that the prospect of recession and higher interest rates meant it could lower prices to sustain growth at the expense of profit. Musk acknowledged last year that prices had become "embarrassingly high" a...
Technology

Tesla fans keep buying, unbowed by the $720 billion wipeout

Even the worst year ever for Tesla Inc. shares hasn’t shaken individual investors’ faith in the electric-vehicle maker and its billionaire chief executive officer, Elon Musk. Even the worst year ever for Tesla Inc. shares hasn't shaken individual investors' faith in the electric-vehicle maker and its billionaire chief executive officer, Elon Musk. Such retail traders have continued piling into the shares, data from Vanda Research show. In fact, they've been strong buyers every day this month, driving their net purchases to record highs in both December and the fourth quarter. On Wednesday, they appeared poised to get a small reward for their loyalty: Tesla jumped as much as 6.6% soon after the market's open. But the shares gave back almost all those gains by late morning, threat...
Technology

Elon Musk Warns Against Margin Debt on Risk of Market ‘Mass Panic’

Billionaire Elon Musk is warning against something he himself has done — borrowing against the value of securities one owns — because of the risk of “mass panic” in the stock market. Billionaire Elon Musk is warning against something he himself has done — borrowing against the value of securities one owns — because of the risk of “mass panic” in the stock market. “I would really advise people not to have margin debt in a volatile stock market and you know, from a cash standpoint, keep powder dry,” Musk said in the All-In podcast released Friday. “You can get some pretty extreme things happening in a down market.” The Tesla Inc. chief executive officer put up billions of his own money when he purchased Twitter Inc. for $44 billion earlier this year and saddled the company with $1...
Technology

Does Elon Musk Still Want to Be the CEO of Tesla?

Shareholders are losing patience with the self-described reluctant chief executive. Elon Musk has said on several occasions lately — on Twitter, from a courtroom stand, on Twitter again, then back at the same court — that he doesn't want to be a CEO.He said so before and after he became the chief executive of a fifth company, which appears to have been one too many, at least for Tesla shareholders to stomach. Since April 4, the day Musk disclosed that he'd taken a stake in Twitter, the car and clean-energy company that accounts for a third of his net worth has lost about $749 billion of market value. Taking a Twitter poll on whether he should step down as head of Twitter — and a decisive vote that found yes, he should — hasn't stopped Tesla's hammering. Overpaying for the social medi...