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Elon Musk's xAI Set to Rent Oracle's AI Servers for $10 Bln Oracle Corp. ( NYSE:ORCL ) is close to a $10 billion cloud contract with Elon Musk's artificial intelligence startup, xAI. Oracle Chairman Larry Ellison announced last September that the company had a deal to provide cloud infrastructure to xAI to train artificial intelligence models. The talks are ongoing and there is no guarantee that the two companies will reach an agreement. XAI was set to close a $6 billion funding round, valuing the company at about $18 billion. The shares gained 3.7% to $120.68 in New York after earlier hitting $122.55. The stock has increased 10% this year through Monday's close. The deal would make xAI one of Oracle's largest customers, as Musk looks to raise funds for xAI in an attempt to rival the AI offerings of OpenAI and Google. The cloud negotiations are ongoing and there is no guarantee that the two companies will sign a deal. XAI was reportedly in talks to raise $3 billion in a round last month, which would have valued the company at $18 billion. Oracle and Elon Musk did not immediately respond to Reuters requests for comment. Oracle ( NYSE:ORCL ) released an update to its database technology earlier this month intended to make it more useful with AI. XAI is the largest H100 customer at Oracle, using more than 15,000 of the AI chips, which are made by Nvidia. Last month, Musk said xAI would launch an enhanced version of its chatbot Grok to early testers and existing users on his social media platform X.
NYSE:ORCLLong
by DEXWireNews
Dogecoin Now Payment Method in Tesla Inc., DOGE Price Rally 20%Elon Musk, the CEO of Tesla, has reportedly added Dogecoin ( CRYPTOCAP:DOGE ) as a payment method for some Tesla products, leading to a 20% increase in the CRYPTOCAP:DOGE price. The move follows a month-long hindrance by Musk about accepting Dogecoin as an official form of payment for Tesla vehicles. Traders immediately responded to the news, with the DOGE price skyrocketing over 20% in the last 24 hours, with the price changing hands at $0.16. Tesla products can only be purchased through a Dogecoin wallet, and all eligible Tesla products will be clearly priced in Dogecoin. However, there are terms when making Dogecoin payments, including not accepting payments from multiple wallets for a single order, unable to cancel an order once placed, and not applicable returns for items purchased with Dogecoin. Meanwhile, Tesla has not confirmed whether Dogecoin is an acceptable payment for Tesla cars. In March, Musk hyped up the meme coin at the Tesla Gigafactory near Berlin, Germany, and said he thinks the company should enable it at some point. The CRYPTOCAP:DOGE price has risen more than 20% in the past 24 hours, currently trading at $0.16. The 24-hour low and high are $0.137 and $0.161, respectively. Trading volume has surged over 90% in the last 24 hours, indicating massive interest among traders. Total Dogecoin futures open interest has increased by 26% over 24 hours and a more than 9% jump in open interest in the past 4 hours, indicating massive buying from futures traders.
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by DEXWireNews
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Tesla Surges as China Clears Path for Self-Driving TechnologyIn a dramatic leap forward for Tesla ( NASDAQ:TSLA ), the electric car giant witnessed a staggering 12% surge in its share price following a pivotal breakthrough in China. The monumental milestone revolves around the green light received by Tesla to roll out its full self-driving (FSD) technology in the world's largest electric vehicle market. The buzz surrounding Tesla ( NASDAQ:TSLA ) intensified after CEO Elon Musk's visit to China culminated in the removal of restrictions imposed on Tesla cars, paving the way for the deployment of FSD. This development, coupled with China's stringent data security requirements being met, sparked a flurry of investor optimism. For years, Tesla ( NASDAQ:TSLA ) has tantalized Chinese consumers with its FSD technology, albeit with limited functionality primarily revolving around automated lane changing. However, with the shackles of data security concerns gradually loosening, Tesla enthusiasts in China can anticipate a broader array of features synonymous with FSD. The significance of this regulatory breakthrough cannot be overstated, especially considering China's pivotal role as Tesla's largest market. Despite Tesla's popularity in China, concerns over data security have cast a shadow over its operations, with reports emerging of bans on Tesla vehicles in certain government-related properties. The Biden administration's probe into potential national security risks posed by imported Chinese cars further underscored the urgency for Tesla ( NASDAQ:TSLA ) to address data security concerns. The removal of restrictions represents a significant step towards assuaging these apprehensions and bolstering Tesla's foothold in the Chinese market. A potential partnership with Baidu, one of China's tech giants, could further bolster Tesla's foray into the Chinese market. Reports suggest that Tesla may gain access to Baidu's mapping and navigation technology, essential components for the seamless operation of FSD in China's complex urban landscape. This breakthrough not only signifies Tesla's resilience amidst fierce competition but also underscores its commitment to innovation and regulatory compliance. As local rivals such as BYD, Nio, and XPeng intensify their efforts to challenge Tesla's dominance, securing regulatory approval for FSD in China emerges as a pivotal win for the electric car pioneer. With Tesla's share ( NASDAQ:TSLA ) price experiencing a notable uptick following the regulatory breakthrough, the company is poised to capitalize on its momentum and solidify its position in the fiercely competitive Chinese electric vehicle market. As Tesla ( NASDAQ:TSLA ) rises from its recent lows, the stage is set for a new chapter in the company's journey toward revolutionizing transportation on a global scale.
NASDAQ:TSLALong
by DEXWireNews
Tesla Inc. ($TSLA) Announced Price Cuts Across its Electric CarsTesla ( NASDAQ:TSLA ) recently announced sweeping price cuts across its electric vehicle (EV) lineup and Full Self-Driving (FSD) technology, signaling a strategic shift amidst mounting challenges. However, as the stock continues its downward spiral, investors are left pondering whether these aggressive pricing maneuvers will be enough to steer the company back on course. A Strategic Pivot Amidst Turbulent Times Tesla's decision to slash prices on EVs and FSD comes at a critical juncture for the company. With Elon Musk postponing a highly anticipated trip to India and reports swirling about delayed plans for a Tesla factory in the region, the EV giant finds itself navigating choppy waters both at home and abroad. The latest round of price cuts underscores Tesla's efforts to stay competitive in an increasingly crowded market while grappling with supply chain disruptions, geopolitical tensions, and regulatory scrutiny. Yet, amidst these headwinds, questions loom large about the sustainability of Tesla's growth trajectory. EV Price Wars: By reducing the entry prices of key models like the Model Y, Model S, and Model X, Tesla aims to stimulate demand and maintain its market dominance. However, with production constraints still a concern, the impact of these price cuts on profitability remains uncertain. Will lower prices be enough to offset rising costs and dwindling margins? Moreover, the decision to leave Cybertruck and Model 3 prices unchanged raises eyebrows, hinting at potential supply chain constraints or strategic prioritization. As competitors ramp up their EV offerings and governments incentivize electrification, Tesla ( NASDAQ:TSLA ) faces heightened pressure to deliver on its promises while staying ahead of the curve. FSD: A Price Cut or a Pricing Conundrum? Tesla's ( NASDAQ:TSLA ) move to reduce the price of its FSD technology reflects a broader push to democratize autonomous driving. However, the disparity between the subscription and purchase options raises questions about the company's revenue model and long-term viability. While a lower FSD price may entice more customers to opt in, the subscription model could cannibalize upfront sales and erode profitability over time. With Musk doubling down on autonomous driving as a cornerstone of Tesla's future, striking the right balance between accessibility and profitability remains a formidable challenge. Earnings Call Anticipation: Seeking Clarity Amidst Uncertainty As Tesla ( NASDAQ:TSLA ) prepares to release its quarterly earnings, all eyes are on Musk and company executives to provide clarity on the company's strategy and outlook. Amidst swirling rumors of workforce layoffs and production setbacks, investors are hungry for reassurance that Tesla can weather the storm and emerge stronger than ever. Conclusion: Tesla's pricing gamble represents a calculated bet on the company's ability to navigate the turbulent waters of the EV market. As competition heats up and external pressures mount, Tesla must tread carefully to strike the right balance between growth and sustainability. While price cuts may provide a short-term boost to demand, the long-term success of Tesla hinges on its ability to deliver on its promises, innovate in the face of adversity, and stay ahead of the curve in a rapidly evolving industry. As investors brace for Tesla's earnings call, one thing remains clear: the road ahead is fraught with challenges, but for those willing to take the journey, the rewards may be greater than ever imagined.
NASDAQ:TSLA
by DEXWireNews
Elon Musk Apologizes to Laid off Tesla EmployeesTesla’s CEO, Elon Musk, has apologized to his staff for a significant error that occurred during the company’s recent restructuring. In an email sent to employees, Musk acknowledged that some severance packages had been incorrectly calculated and expressed regret for the mistake. He assured his staff that the issue would be addressed immediately. The apology came after Tesla ( NASDAQ:TSLA ) laid off approximately 14,000 employees, or 10% of its workforce, citing the company’s “rapid growth” and the need to eliminate duplication of roles and job functions in certain areas. Musk described the decision as a difficult one, made after a thorough review of the organization. The severance pay error is not the first time Musk has been accused of failing to compensate former employees. In a lawsuit brought against him by former Twitter executives, Musk was accused of declining to pay severance to those he had allegedly fired without reason. The executives claimed that Musk owed them $128 million in severance pay. Musk’s handling of Twitter, which he acquired in 2022 and now operates as X, has also attracted criticism. In an interview, Musk claimed to have reduced the company’s staff by 80%, cutting over 6,000 jobs, in an effort to prevent the company from going bankrupt. However, the lawsuit claims that Musk has earned a reputation for not paying his bills, citing a large number of lawsuits from vendors and service providers who claim they are owed money. The lawsuit also references a website that tracks Twitter/X’s alleged missed payments, and the individual who operates the site has reportedly been banned from the social media platform. Despite these challenges, Tesla ( NASDAQ:TSLA ) remains one of the most innovative and dynamic companies in the automotive industry, with a strong commitment to sustainability and electric vehicles. The company’s future success will depend on its ability to navigate these challenges and continue to innovate and grow.
NASDAQ:TSLA
by DEXWireNews
Tesla's Robotaxi Set to be Unveil Amidst Investor SkepticismTesla's journey on the stock market has been nothing short of tumultuous in recent times, as the electric vehicle (EV) giant grapples with diverging narratives surrounding its futuristic promises and current market challenges. Elon Musk, Tesla's enigmatic CEO, once again sought to change the narrative by teasing the long-awaited robotaxi unveiling, scheduled for August 8th. This announcement, following a denial of reports about shelving plans for a cheaper electric vehicle, prompted a surge in Tesla's shares in extended trading. However, amidst the hype, questions linger about the feasibility of Musk's grand vision. Tesla's history is peppered with ambitious promises and delayed deliveries. Musk's predictions about autonomous vehicles, including the much-touted robotaxi, have yet to materialize despite years of anticipation. Regulatory hurdles, technical challenges, and manufacturing setbacks have impeded progress, casting doubt on the viability of Musk's ambitious timelines. Despite Musk's attempts to steer attention towards the future, Tesla's present struggles remain undeniable. Sluggish demand, intensified competition, and supply chain disruptions have weighed heavily on the company's performance. Tesla's first-quarter deliveries witnessed an 8.5% drop from the previous year, contributing to a sharp decline in share value. The regulatory landscape further complicates Tesla's path forward. Recent recalls and safety concerns surrounding Tesla's Full Self-Driving (FSD) software underscore the challenges of gaining regulatory approval for autonomous vehicles. Convincing regulators of the safety and reliability of Tesla's technology remains a formidable task, one that could significantly impact the trajectory of the company's autonomous ambitions. As Tesla ( NASDAQ:TSLA ) navigates these challenges, investor skepticism looms large. Analysts have questioned Tesla's growth prospects amidst a backdrop of sluggish demand and mounting competition. The recent selloff in Tesla's shares reflects growing concerns about the company's ability to deliver on its lofty promises amidst a volatile market environment. Tesla's future hinges on its ability to bridge the gap between promise and reality, demonstrating tangible progress in delivering on its ambitious vision while addressing present-day challenges. The upcoming robotaxi may capture headlines, but the road ahead for Tesla ( NASDAQ:TSLA ) remains fraught with uncertainty. Technical Outlook Technically, NASDAQ:TSLA stock has accumulated liquidity during its worst market days coupled with the release of its Robotaxi, it will capitalize on its gains as more buyers step in and then surge to a new Resistance level. The Relative Strength Index (RSI) at 45.09 is pretty much good for a perfect entry as NASDAQ:TSLA is on its way to a new Resistance zone.
NASDAQ:TSLALong
by DEXWireNews
Tesla Stock Plummet On China's Production CutTesla ( NASDAQ:TSLA ) has reduced production at its Shanghai factory amid slowing EV demand in the world's largest auto market. The move to cut production in China also comes as the global EV giant is heading towards a likely first-quarter delivery miss and has announced vehicle prices will begin to increase. Tesla ( NASDAQ:TSLA ) is reducing production at the China plant to five days a week. The output cuts started earlier in March and could continue through April, Bloomberg reported Friday. The action comes amid slowing EV growth in China and with Tesla's Shanghai facility already not producing at full capacity. Tesla ( NASDAQ:TSLA ) observers have repeatedly said in recent weeks that global inventory appears high. This week, local media reported Tesla ( NASDAQ:TSLA ) will slightly raise China list prices on Model Y vehicles starting on April 1, following similar plans in the U.S. and Europe. Tesla ( NASDAQ:TSLA ) is also offering discounts between $1,000-$1,500 in China on inventory Model Y vehicles. Inventory discounts are more significant in the U.S. and Europe. First-Quarter Deliveries Below Expectations The global EV company ended 2023 on a high in China. However, the EV dynamic in China has changed early in 2024. Tesla Chief Executive Elon Musk has also said China's EV companies are Tesla's main competition — with BYD (BYDDF), Nio (NIO), Li Auto (LI) and others all making inroads in the EV market. Tesla China delivered 60,365 in February, down around 19% compared to last year, according to the China Passenger Car Association (CPCA). Chinese New Year ran for two weeks in February, from Feb. 10-Feb. 24. Tesla deliveries of China-made vehicles in January and February totaled 131,812, down 6% compared to 2023. Cutting Shanghai production would be further confirmation of weakening demand not only in China, but in Europe and other key markets. Shanghai exports to Europe have waned over the past several months, while the Tesla Berlin factory is running well below capacity. Meanwhile, with the first quarter ending soon, Tesla ( NASDAQ:TSLA ) appears to be heading for a delivery miss. Wall Street consensus currently still has Q1 deliveries of 481,000 units, according to FactSet, but many analysts have cut predictions in recent days. Tesla is expected to report Q1 deliveries in early April. Tesla Stock Performance TSLA shares fell 3.3% to 167.14 during market action Friday. Tesla ( NASDAQ:TSLA ) shares has a weak Relative Strength Index (RSI) of 38.26 indicating selling pressure. Last week, Tesla ( NASDAQ:TSLA ) stock dropped 6.7% to 163.57, hitting new 2024 lows and levels not seen since May 2023. NASDAQ:TSLA is down more than 14% in March and the biggest loser on the S&P 500 index so far in 2024. UBS last week cut its Tesla stock price target to 165, from 225, and maintained a neutral rating on the shares. UBS lowered its Q1 delivery forecast to 432,000 units, from its previous 466,000 view. The firm also cut full-year deliveries to 1.96 million units, from 2.02 million previously. With 2023 in retrospect, analyst consensus now has 2024 Tesla earnings below 2023's level. That signals another year of earnings declines for this growth stock. Wall Street expects Tesla earnings per share of just $2.96 a share in 2024, according to FactSet. That would be around a 5% decline vs. last year's $3.12.
NASDAQ:TSLAShort
by DEXWireNews
DWAC Acquisition Faces Rollercoaster Ride Amid Trump Merger The tumultuous journey of NASDAQ:DWAC stock, the special purpose acquisition company (SPAC) aiming to take former President Donald Trump's tech and social media platform public, continues to captivate investors amidst a whirlwind of events. From surging highs to staggering lows, the stock's trajectory reflects the intricate interplay between market expectations, legal challenges, and the enigmatic allure of the Trump brand. In recent weeks, NASDAQ:DWAC shares have faced downward pressure as traders grapple with the implications of Trump's financial struggles. Amidst mounting concerns, the stock plunged to a monthly low of $32.25 before staging a partial recovery to $36.42. However, buoyed by optimism surrounding the pending merger with Trump Media & Technology Group (TMTG), DWAC saw a resurgence in pre-market trading, reaching a high of $38. The merger between NASDAQ:DWAC and Trump Media has been fraught with controversy, marked by lawsuits, regulatory scrutiny, and speculation surrounding the viability of Truth Social, the conservative social media platform owned by Trump Media. Allegations of stock grabs, legal battles, and Trump's efforts to secure substantial bond funds to appeal a civil business fraud judgment have added to the uncertainty surrounding the merger. Despite the challenges, NASDAQ:DWAC shareholders are poised to vote on the merger with Trump Media on Friday, signaling a pivotal moment in the company's trajectory. If approved, the merger could see Trump's stake in TMTG valued at a staggering $4 billion, a testament to the enduring allure of the Trump brand in the eyes of investors. However, DWAC's fortunes remain intrinsically linked to Trump's political ambitions and legal battles. The former president's status as the top Republican candidate for president has fueled optimism among investors, with hopes of a Trump victory in the election potentially driving further gains for the stock. Yet, concerns linger over the impact of federal charges and ongoing legal battles on the Trump brand and, by extension, NASDAQ:DWAC stock. Despite a recent decline in March and a substantial drop from its peak in October 2021, DWAC shares remain up 128% in 2024, underscoring the enduring interest in the company's potential. As NASDAQ:DWAC navigates the choppy waters of Trump's financial woes and legal challenges, investors remain on edge, eagerly awaiting the outcome of Friday's merger vote and the subsequent implications for the company's future. With volatility likely to persist in the short term, DWAC's journey serves as a testament to the unpredictable nature of the market and the enduring fascination with the Trump phenomenon.
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by DEXWireNews
Tesla Faces Headwinds: Analysts Downgraded TSLA StockTesla ( NASDAQ:TSLA ), the electric vehicle (EV) pioneer, finds itself at a crossroads as analysts' sentiments diverge on the company's prospects. Recent downgrades and contrasting opinions reflect uncertainty surrounding Tesla's ( NASDAQ:TSLA ) delivery expectations, pricing strategy, and the viability of its next-generation vehicles. Let's delve into the nuanced landscape of Tesla's stock analysis and the divergent views shaping its trajectory. Downgrades and Concerns: Wells Fargo's downgrade of Tesla ( NASDAQ:TSLA ) to underweight, with a reduced price target, highlights concerns over disappointing first-quarter deliveries and ongoing price cuts. The firm's skepticism extends to Tesla's next-generation offering, particularly the economics of the anticipated Model 2. Everscore's projection of delayed ramp-up for Tesla's cheaper vehicle further compounds apprehensions, indicating potential challenges ahead. Optimism Amidst Uncertainty: Despite the prevailing skepticism, Wedbush Securities' analyst Dan Ives maintains an outperform rating for Tesla, albeit with reduced Q1 delivery expectations. Ives remains bullish on Tesla's long-term prospects, emphasizing a positive outlook for deliveries throughout the year. His optimism stems from observations during a recent trip to Asia, suggesting a slowdown in price cuts and potential stabilization in demand, benefiting Tesla and the broader EV industry. Contrasting Views on Earnings and Performance: Analyst consensus for Tesla's 2024 earnings paints a mixed picture, with projections below 2023 levels, indicating another year of negative growth. Morgan Stanley's Adam Jonas echoes concerns, lowering earnings projections and envisioning potential losses for Tesla in 2024. Despite trimming his price target, Jonas maintains an overweight rating, underscoring the complexity of Tesla's performance outlook amidst evolving market dynamics. Market Response and Outlook: Tesla's ( NASDAQ:TSLA ) stock performance reflects investor uncertainty, with recent declines and contrasting analyst opinions shaping market sentiment. As Tesla ( NASDAQ:TSLA ) navigates through delivery challenges, pricing adjustments, and the development of next-generation vehicles, stakeholders remain vigilant for signs of sustained growth and profitability. With Tesla's position in the EV landscape evolving, market watchers await clarity on its strategic direction and execution in the coming quarters.
NASDAQ:TSLAShort
by DEXWireNews
Tesla to Reclaim $1000?This is an idea to trade and identify intraday levels off of. Volume has been present in the market. today price ran out of steam a bit after the open... overall good momentum to the upside on a strong parabolic rally. A small bearish turn here would not surprise me as one could argue that price is due for a correction while traders re load and take profits. my 2 key levels are based on pretty apparent levels where money either flowed into or out of the market. they are in confluence with a 61.8% retracement from each respective swing low and swing high. if price fails below the neckline of our most recent parabolic rally, this will show me that buyers are not totally in control yet. With most recent price action and volume and i am looking for price to break above that $950 level and rally into 1000 where i expect price to be met with bearish pressure.
NASDAQ:TSLALong
by joeyvalentino