ROBOTAXI TECHNOLOGY
Was Michael Burry right about the AI bubble? Wall Street loses $2 trillion as AI and chip stocks plunge: Why are Tesla, Palantir, AMD, Broadcom and SanDisk crashing?
Michael Burry's warning about an AI bubble is back in focus as Wall Street loses more than $2 trillion in market value. On Thursday, November 5, AMD shares plunged around 12%, SanDisk fell 14%, Micron dropped 10%, while Nvidia lost nearly 7%. Tesla and Palantir also fell 9% and 8%, respectively. The sell-off spread across chipmakers, memory companies and AI infrastructure stocks. The Dow fell 2.36%, the S&P 500 dropped 3.11%, and the Nasdaq sank 4.20%, as investors questioned whether massive AI investments can deliver enough returns.
Musk stocks lose $120 billion as Democrats’ Texas win rattles investors
Tesla and SpaceX lost more than $120 billion in combined market value after Democrats scored major election victories in Texas and across the US. Investors are concerned that a Democrat-controlled Congress could increase scrutiny of Elon Musk’s businesses, complicate a potential Tesla-SpaceX merger and create fresh regulatory hurdles.
China's Baidu launches AI model simulating road environment for robotaxis
Apollo World can generate "up to 100,000 km" (62,000 miles) of simulated driving daily, equivalent to about three years of real-world testing by a safety-driver-equipped autonomous vehicle, Baidu said. The system is capable of producing real-time multimodal data streams, such as camera and lidar observations, enabling self-driving systems to directly sense and navigate simulated environments.
Waymo in Japan: Driverless taxis launch planned for 2027 with Toyota partnership, local bZ4X EVs to be fitted with self-driving technology; UK expansion next
Toyota Waymo partnership: Toyota and Waymo will begin testing a fleet of autonomous bZ4X electric vehicles in Japan in 2027, with expansion to the UK and other markets planned later. Toyota will manufacture and equip the vehicles at its Aichi plant, while Waymo will provide its fully autonomous driving technology.
Rivian says it's on track for $250 million Uber funding by year-end, R2 demand strong
The Uber funding and strong R2 sales are crucial to Rivian's push to narrow heavy losses and cash burn while it funds a bet on self-driving technology and leans on its joint venture with Volkswagen, which has become a major source of revenue.
Shares in Google owner Alphabet sink on profit miss, ad slowdown
Alphabet has witnessed a notable decline in its net profit and advertising revenue for the third quarter, specifically from July to September. The net profit dropped 25 percent to $26.2 billion, which fell short of analyst predictions. While YouTube's revenue growth has decelerated, Google Cloud's revenue impressive surged by 103 percent. The company reports substantial capital expenditures at $51.
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Explainer | Why would Musk merge SpaceX and Tesla?
Elon Musk has expressed support for a potential merger between Tesla and SpaceX. This merger could create a technology and manufacturing powerhouse worth approximately $3.5 trillion. By combining their resources, both companies could streamline operations and enhance collaboration on projects like AI and robotics. However, there are challenges related to governance, regulatory scrutiny, and execution risks that need to be addressed.
inDrive taps Pony.ai and Nvidia to test robotaxis in one of the world's coldest capitals
The ride-hailing company will explore driverless rides in Kazakhstan without building its own self-driving technology, as platforms increasingly leave the technology to partners and focus on connecting riders with cars.
Meta’s bigger budget, Tesla’s smaller one leave Wall Street uneasy
Investors question how Meta will fund its AI push and whether Tesla’s smaller budget can deliver Musk’s ambitions.
Tesla aims to sell Cybercab robotaxis by end of year despite federal probe
Tesla is aiming to start selling its Cybercab robotaxis to the public by the end of this year, its engineering chief said on Wednesday, even as the US auto safety agency probes the vehicles that come without manual controls which federal regulations
Musk's mother of all mergers will birth a $3.5 trillion tech monster
Elon Musk is considering merging Tesla and SpaceX, with both companies forming committees to evaluate the proposal. This merger could enhance their collaboration in artificial intelligence and robotics, as both companies have overlapping interests. While Tesla may gain from SpaceX’s rocket-launch capabilities, there are concerns about financial risks and governance issues. Investors are skeptical, particularly regarding the potential burden on Tesla's existing operations.
US Market: Musk backs Tesla-SpaceX merger idea, envisioning a $3.5 trillion giant
Elon Musk backs the idea of a Tesla-SpaceX merger that could create a technology conglomerate valued at around $3.5 trillion. The combination could unite electric vehicles, satellite communications, robotics and AI computing, while raising questions over regulation, governance and shareholder value.
SpaceX, Tesla earnings to test Musk's AI spending ambitions as merger talk grows
As SpaceX and Tesla prepare to unveil their third-quarter results, investors are eagerly awaiting insights into revenue and earnings growth. Analysts will likely center their analysis on Starlink’s performance alongside profits from Tesla’s vehicle sales. With Tesla's annual meeting scheduled for December 3, potential merger discussions are also on the horizon, impacting future strategies amid significant capital expenditures that foreshadow negative free cash flow.
Musk’s SpaceX, Tesla results to test AI spending as merger speculation builds
SpaceX and Tesla are expected to report third-quarter results on consecutive days this week. This reporting will provide investors insight into both companies amidst merger speculation. Analysts are particularly focused on Starlink's revenue growth and Tesla's profits from car sales. Both companies are investing significantly in AI, influencing their financial outlooks. The upcoming results are anticipated to clarify the potential for a merger between them.
Tesla share price drops after unveiling Roadster Sports Car: Check Elon Musk's SpaceX backed flying car's features, available timeline
Tesla's first Roadster was launched back in 2008. And in 2018, Musk went as far as placing one on a rocket — with a mannequin dubbed “Starman” in the driver's seat — and launching it into space.
Tesla is browbeating the EU to approve its 'Full Self-Driving' tech. The pressure is working
Tesla is involved in a campaign to secure EU approval for its Full Self-Driving technology. The automaker faces criticism regarding the validity of its safety research and claims. European regulators are examining the methodology behind Tesla's assertions of crash reduction performance. Tesla officials have engaged in discussions with various regulators to alleviate concerns over the technology. The outcome of this push could significantly impact Tesla's market presence in Europe.
The Indispensables: Seven AI titans and an $18.6 trillion economic bet
Removing key AI leaders such as Elon Musk and Sam Altman could disrupt the entire AI industry profoundly. These leaders oversee companies with a combined market value of approximately $18.6 trillion as of now. Their innovative projects in AI have enormous potential to impact multiple sectors and advance human progress.
China's Xpeng plans to offer tech solutions to foreign automakers
The company plans to offer its electrical and electronic architecture, cockpit systems, Turing AI chips, and advanced-driver assistance software to other firms, the source said. Potential partners could also include foreign software developers and automobile suppliers.
Waymo, Japanese partners target driverless taxi service in Tokyo in 2027
Once approvals are secured and the service is fully validated, it will operate without drivers and be available through both the GO and Waymo apps, the companies said in a joint statement.
Uber's 3,300 job layoff memo has a warning for work-from-home employees and managers; the company has put a limit on who will be allowed to stay remote
Uber is cutting about 3,300 jobs while sharply limiting fully remote work to just 1% of its workforce. Most remote employees will be asked to move closer to designated team offices, while the three-day hybrid policy stays. Managers will also be expected to work alongside their teams as Uber reshapes its workplace structure.
AI's left hand begins to take away jobs before its right hand can
In response to soaring chip prices, Samsung India is downsizing its electronics division. The burgeoning demand for specialized chips fueled by AI advancements is driving up costs for standard memory. As organizations focus their finances on AI infrastructure, resources for payroll are strained, potentially resulting in job reductions despite the lack of direct automation.
Elon Musk pushes regulatory limits with Tesla's Cybercab robotaxi service
Just hours after an event in downtown Austin, Texas, to mark the rollout, the National Highway Traffic Safety Administration said it opened an audit of about 1,000 Cybercab vehicles to assess how Tesla determined the cars comply with federal vehicle-safety regulations.
Tesla’s wildest ride yet: Musk puts steering-wheel-free Cybercabs on Austin streets, daring Americans to let go
Musk’s Tesla has begun testing a new generation of Cybercabs on Austin streets that have neither steering wheels nor brake pedals, placing full control in the autonomous system. The rollout is a major test of Tesla’s robotaxi ambitions as the company faces public scepticism, regulatory scrutiny and fierce competition from Waymo.
NHS England chair Dr Penny Dash says Britain should learn from India’s healthcare system
Britain's NHS chair sees India as a future global healthcare model. India utilizes technology to expand healthcare access and reduce costs significantly. The Ayushman Bharat Digital Mission and eSanjeevani platform showcase this digital infrastructure. Artificial intelligence aids disease detection and outbreak prediction across the nation. India's approach offers lessons for other countries seeking better healthcare delivery.
Uber, Wayve begin robotaxi rollout in London's busy streets as Europe takes cautious approach
London is launching its first self-driving taxi service with Uber and Wayve. These electric vehicles will initially have human safety drivers present. The service operates under Britain's pilot framework for autonomous vehicles. Other companies are also preparing similar services in the city. This marks a significant step toward future autonomous vehicle deployment.
Uber Layoffs: CEO Dara Khosrowshahi Says “This wasn’t a decision we made lightly” as company cuts 3,300 jobs globally
In a bold move, Uber is set to cut its workforce by roughly ten percent, affecting around 3,300 staff members. This decision is part of a larger strategy to streamline management and improve team functionality across the globe. The cost savings will be funneled into crucial areas such as ride-sharing innovations and the development of autonomous vehicles.
Tech pilgrims flock to China as global innovation race heats up
Investors and entrepreneurs are paying thousands of dollars for rare access to Chinese factories, seeking a front-row seat to what many believe could be the next technological revolution.
Uber may lay off 200-250 employees in India as part of global restructuring
Globally, Uber is eliminating around 3,300 roles, or about 10% of its workforce, as part of a restructuring aimed at reducing management layers and reallocating spending towards its ride-hailing, delivery and robotaxi businesses. Bloomberg first reported the global layoffs.
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