Tesla

Tech billionaire’s $158.3bn deal an outlier in report showing widening gap of CEO to worker pay at top companiesElon Musk received over 2.5m times as much compensation at Tesla as the company’s average worker, according to a new report on the growing gap between top corporate executives and their workers.Musk’s $158.3bn pay deal was an outlier but came as the gap between CEO and worker pay continued to grow. Excluding Musk, last year the average ratio of CEO to worker pay for the top S&P 500 companies was 312 to 1, up from a 285:1 ratio in 2024. With Musk, the average pay ratio was 5,387:1, according to the executive pay watch report released this week by the AFL-CIO, the largest federation of labor unions in the US. Continue reading...

Elon Musk’s EV company lost a quarter of its value after revealing weak profits and high spending on AI and roboticsTesla’s stock fell about 13.5% on Thursday in one of the biggest single-day market losses in the company’s history.Elon Musk’s automaker has struggled throughout the year, losing about 27% of its market value as huge capital expenditures and weaker-than-expected profits worry investors. Continue reading...

• Major stock indexes plummeted as investors sold off shares of Tesla and Alphabet due to growing concerns over artificial intelligence spending. • Brent crude oil futures surged past $100 a barrel for the first time in two months, adding further pressure to the markets. • The downturn highlights a shift in investor sentiment regarding the sustainability of AI investments and the impact of rising energy costs.

• London-based robotics startup Humanoid has raised $152 million in a Series A funding round, bringing the company's valuation to approximately $1.35 billion. • The capital will be used to develop and deploy humanoid robots specifically designed for industrial environments, such as warehouses and factories. • This investment places Humanoid in direct competition with major industry players, including Tesla, Figure AI, Apptronik, and Agility Robotics.

Shares in Elon Musk company fall more 3% in after-hours trading, as earnings per share miss Wall Street expectationsTesla reported its second-quarter earnings on Wednesday, disclosing far lower profits than expected. The company’s already beleaguered stock, which had fallen around 14% this year to date, dipped further following the earnings report.Elon Musk’s automaker, once the pinnacle of his tech empire, has taken a back seat to SpaceX. Musk’s rocket and AI company held the largest stock market debut in history last month, turning the richest man on earth into the world’s first trillionaire, though his net worth has since fallen from its peak. Continue reading...

• US and Chinese officials are preparing for high-stakes diplomatic talks next month focused on artificial intelligence. • The automotive technology sector is shifting toward cloud connectivity, with manufacturers increasingly utilizing over-the-air software updates and data collection to refine automated-driving systems. • This transition has intensified competition between tech firms like Nvidia, Qualcomm, and Tesla, as automakers strive to develop more internal driving software.

Prosecutors seeking to try musician, born David Anthony Burke, for murder over death of Celeste Rivas HernandezSinger-songwriter D4vd is set to appear in a Los Angeles courtroom on Tuesday as prosecutors aim to prove sufficient evidence exists for him to stand trial for the murder and sexual abuse of a minor, Celeste Rivas Hernandez.The preliminary hearing is expected to conclude on Thursday. The proceeding follows several delays in the case, in part due to the voluminous amount of investigatory evidence. Continue reading...