Tesla Just Signed a $16.5 Billion Chip Deal
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Under California regulations, companies need to secure permits from CPUC and the California Department of Motor Vehicles in order to test and operate self-driving vehicles in the state. Reuters reported that Tesla has, to date, only secured the DMV permit to test its robotaxi vehicles with human drivers.
The Tesla Supercharger Diner opened Monday in West Hollywood and Elon Musk is already teasing a Texas expansion.
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Tesla charging unit sparks massive inferno in Texas garage, severely damaging home, officials say
The city of Lewisville, Texas, confirmed a Tesla charging device ignited an "intense" house fire that engulfed a Lexus and the home's upper floors Monday.
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Why Tesla Stock Jumped Today
Shares of Tesla ( TSLA 3.11%) climbed higher on Monday. The electric vehicle (EV) maker's stock gained 3% as of market close, but had jumped as much as 4.6% earlier in the day. The spike comes as the S&P 500 ( ^GSPC 0.02%) was flat and the Nasdaq Composite ( ^IXIC 0.33%) rose 0.3%.
Tesla CEO Elon Musk announced that Samsung will supply the Austin automaker's next-generation chips in a $16.5 billion deal at Samsung's Texas facility . "Samsung's giant new Texas fab will be dedicated to making Tesla's next-generation AI6 chip," Musk said in a post on X. "The strategic importance of this is hard to overstate."
A persistent squeak and repeated repairs have one Cybertruck owner seeking a buyback, with similar issues reported across the community.
Tesla and Alphabet report quarterly earnings after the closing bell Wednesday, while Texas Instruments tumbles after issuing a disappointing profit forecast.