TeraFab<\/a>, a proposed AI chip manufacturing venture between Tesla, SpaceX and xAI, which is now a SpaceX subsidiary.<\/p>\nMusk said xAI, now known as SpaceXAI, will develop an AI model to serve as a \u201cmanager\u201d for Optimus, Tesla\u2019s robots that Musk has claimed could be the \u201cbiggest product ever.\u201d <\/p>\n
In response to Langan\u2019s question, Tesla\u2019s general counsel said the automaker will \u201ccontinue to benefit from our relationship with SpaceX,\u201d citing \u201cnumerous beneficial transactions\u201d and investments between them.<\/p>\n
tesla misses on earnings, despite revenue beat<\/p>\n
Tesla reported second-quarter revenue of $28.2 billion, beating consensus economist projections of $27.2 billion, according to FactSet. The firm posted earnings of 33 cents per share, however, which fell well below estimates of 55 cents. Tesla also reported its first quarter of negative free cash flow in more than two years, running just over $1 billion in the red, as chief financial officer Vaibhav Taneja reiterated Tesla planned to spend more than $25 billion this year, noting that figure will likely rise in the coming years. <\/p>\n
key background<\/p>\n
Some analysts have suggested that Tesla and SpaceX could merge, as Musk has worked to fold his companies into one another. SpaceX president Gwynne Shotwell told CNBC a deal combining the rocket maker with Tesla \u201cmight make Elon\u2019s life a little easier,\u201d arguing there was \u201cno question that there are synergies between Tesla and SpaceX in our futures.\u201d Musk reportedly discussed the possibility of combining the two companies, and Tesla employees have purportedly said many workers at the company are expecting a transaction to take place. Former Wedbush Securities analyst Dan Ives said ahead of SpaceX\u2019s initial public offering last month his firm had placed odds of 80% or higher for Tesla and SpaceX merging by 2027, writing in a separate note the \u201cgroundwork is already in place for both operations to become one organization.\u201d <\/p>\n
further readingForbesCould Musk Merge SpaceX And Tesla? Here\u2019s What Analysts\u2014And Betting Markets\u2014SayBy Ty Roush<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Topline Elon Musk on Wednesday deflected questions about a direct merger between his SpaceX and Tesla during the…\n","protected":false},"author":2,"featured_media":554894,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[114,85,46,4688,225549,348,41251,13344],"class_list":["post-554893","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-il","tag-israel","tag-spacex","tag-spacex-shares","tag-tesla","tag-tesla-earnings","tag-tesla-shares"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/554893","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=554893"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/554893\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/554894"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=554893"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=554893"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=554893"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}