Black predicts that less than 50% of Tesla owners will join the company’s robotaxi fleet. The main argument against including a personal vehicle in Tesla’s robotaxi fleet is that owners will be uncomfortable lending their cars to strangers.

What % of Tesla owners would accept a stream of payouts from Tesla for deploying their cars in a TSLA robotaxi network to move people/luggage around every day? At 25 trips/day x 6 miles/trip x $1/mile x 75% payout, let’s assume a TSLA owner could make $40K per year by renting…

— Gary Black (@garyblack00) December 22, 2024

Elon Musk has compared Tesla’s robotaxi fleet to a combination of Uber and AirBnB. While Black’s point could be valid, it might not be a major concern for Tesla. Musk has also stated that Tesla will independently add vehicles to the robotaxi fleet, separate from individual car owners. 

So, there should be enough vehicles in the robotaxi fleet to accommodate customers, even if less than 50% of Tesla owners join the robotaxi fleet initially. Plus, some Tesla owners have argued that they would not enroll their personal vehicles into the robotaxi fleet, but a secondary car instead. 

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There are a few rare occasions where these two things go hand-in-hand, and on Monday night, we got exactly that.

Tesla shares have been running up since the election, which saw President-elect Donald Trump win for the second time in three times. He became the first President since Grover Cleveland in the late 1800s to win in non-consecutive terms.

The company’s stock is up big — over 85 percent — since Trump’s big win on Tuesday, November 5. Along with the stock run-up are a few meme-worthy numbers, like $420.69 and $469.42, a few prices that usually get a giggle from the diehard Tesla fans on X, Musk’s social media platform.

With all of these numbers and a near-endless combination of them available, Tesla shareholders are waiting for their next opportunity to laugh at their skyrocketing portfolios and the prices that come along with them. One investor said the next big number will be $690.42, a price that is over $200 away.

It will also skyrocket Tesla to a $2 trillion market cap.

Musk says he believes Tesla shares will reach that price again in the future, marking a lofty prediction for the company in the coming years as many believe the stock’s surge is far from over, especially in the long term:

At some point in the future, I think that will happen

— Elon Musk (@elonmusk) December 17, 2024

Wall Street firms and the analysts that follow the stocks, at least from a bullish perspective, have big numbers for Tesla.

Wedbush’s Dan Ives boosted his price target for the second time since the election this past weekend, believing the Trump White House will benefit the company’s AI and Full Self-Driving goals with streamlined regulatory processes, something Tesla has worked against for years.

Ives said in a note to investors:

“We estimate the AI and autonomous opportunity is worth at least $1 trillion alone for Tesla and we fully expect under a Trump White House these key initiatives will now get fast-tracked as the federal regulatory spiderweb that Musk & Co. have encountered over the past few years around FSD/autonomous clears significantly under a new Trump era. We believe Tesla could reach a $2 trillion market cap by the end of 2025 as the company’s autonomous vision starts to take shape…”

Tesla continues to soar after bull pushes price target up again, adding a new bull case

Tesla shares are up again today, trading at $468.53 at 12:33 p.m. on the East Coast. The stock is up over 88 percent so far this year.

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Tesla has previously announced that it would be appealing Delaware Chancellor Kathaleen McCormick’s ruling, which overruled a vote from a majority of Tesla shareholders.

Key updates: 

• Chancellor Kathaleen McCormick of the Court of Chancery recently issued an order that opens a 30-day window for an appeal to be filed with the Delaware Supreme Court, as noted in a Reuters report.
• With this, Elon Musk and Tesla’s board that approved the CEO’s 2018 compensation plan could appeal McCormick’s ruling in January. 
• Tesla also has the opportunity to appeal McCormick’s order that required Tesla to pay $345 million to the attorneys who represented Richard Tornetta, a TSLA shareholder with nine shares who initiated the lawsuit in 2018 in protest against Musk’s pay package.

Judge’s concerns:

• McCormick has alleged that Musk and the Tesla board breached their fiduciary duty to investors by approving a pay package that she described as “unfathomable” in size.
• Tesla shareholders ratified Elon Musk’s 2018 compensation plan at the company’s 2024 Annual Shareholders Meeting. The ratification was achieved by a large majority of TSLA stockholders. 
• Despite the Tesla shareholders’ ratification, McCormick declined to reconsider her January ruling earlier this month.

A Delaware judge just overruled a supermajority of shareholders who own Tesla and who voted twice to pay @elonmusk what he’s worth.

The court’s decision is wrong, and we’re going to appeal.

This ruling, if not overturned, means that judges and plaintiffs’ lawyers run Delaware…

— Tesla (@Tesla) December 2, 2024

Tesla’s rebuttal:

• Tesla responded by stating that it would be appealing the judge’s decision.
• “A Delaware judge just overruled a supermajority of shareholders who own Tesla and who voted twice to pay Elon Musk what he’s worth. The court’s decision is wrong, and we’re going to appeal. This ruling, if not overturned, means that judges and plaintiffs’ lawyers run Delaware companies rather than their rightful owners – the shareholders,” Tesla wrote in its official account on X.
• Reuters noted that the Delaware Supreme Court can take about a year to issue a ruling on such appeals.

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Reports about Musk’s alleged interest in Miller’s luxury property was initially reported by Page Six, which cited a source reportedly familiar with the matter.

The rumors

• Page Six claimed that Musk has expressed interest at acquiring Miller’s penthouse, which is comprised of two apartments. 
• Miller had paid $42.56 million for the property, but the publication claimed that Musk was considering purchasing the penthouse for about $100 million. 
• The 19,000 square-foot property is reportedly “fit for a king” and decorated with works by Pablo Picasso, Joan Miro, and Marc Chagall. 
• It is also just a few minutes away from Mar-a-Lago via car. 

Elon Musk’s rebuttal

Elon Musk has directly denied the reports, stating in a post on X that “I’m not buying or building a house anywhere.”

I’m not buying or building a house anywhere

— Elon Musk (@elonmusk) December 10, 2024

Musk’s homes (or lack thereof)

• Elon Musk’s direct denial of the report is unsurprising, considering that the CEO is not known for living in luxury, especially in the past few years. 
• Musk used to own several luxury homes in California, but he offloaded all of them. Musk put his last remaining house in the Bay Area up for sale in June 2021. 
• During a conversation with TED chief Chris Anderson in 2022, Musk noted that he typically couch surfs at the home of his friends when he travels around. 
• This was despite Musk already being the richest man by net worth at the time.
• Musk does have a house today, but it’s a modest $50,000 home in Starbase, Texas, SpaceX’s Starship factory.

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Musk’s net worth has seen a perfect storm of sorts in the latter half of this year, thanks in part to his substantial holdings in his businesses, such as private space company SpaceX, electric vehicle maker Tesla, and artificial intelligence startup xAI.

Key updates:

• Elon Musk’s net worth is tied to his companies, and this year, Tesla, SpaceX, and his other ventures such as xAI have seen notable jumps in valuation. 
• Musk’s $442 billion net worth was achieved after SpaceX’s valuation jumped to about $350 billion. This makes SpaceX the most valuable private company in the world, as noted in a Bloomberg News report. 
• Prior to SpaceX reaching a valuation of $350 billion, Musk’s net worth was already being boosted by his TSLA holdings. 
• Tesla has been on a wild tear since it reported its Q3 2024 earnings, which beat analyst expectations. Donald Trump’s win at the 2024 U.S. presidential election resulted in another TSLA rally that has not really lost momentum until today. 
• Tesla currently has a market cap of $1.315 trillion as of writing, nearing all-time highs.
• Musk’s artificial intelligence startup, xAI, also saw its valuation double this year to $50 billion.

— Elon Musk (@elonmusk) December 11, 2024

A closer look: 

• SpaceX currently dominates the spaceflight sector, with the company launching 128 missions in 2024 as of three days ago. These are comprised of 123 Falcon 9, two Falcon Heavy, and three Starships, as per Space Explored. 
• SpaceX’s Starship program is making notable progress toward its goal of achieving full reusability.
• Tesla is the world’s most valuable automaker, and it currently produces the Model Y, the world’s best-selling vehicle by volume last year. The Cybertruck also stands as the United States’ best-selling electric pickup truck.
• Tesla’s Full Self-Driving (Supervised) system is making headway toward becoming a true driverless solution that can fully power vehicles like the Cybercab. 
• xAI quickly grew into one of the world’s most aggressive AI startup companies this year. 
• xAI was able to build its Colossus supercomputer, which was initially comprised of 100,000 Hopper GPUs, in just 122 days. This was a feat dubbed by Nvidia CEO Jensen Huang as “superhuman.”

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For their study, researchers from American University measured the percentage of parts originating in the United States or Canada in every vehicle model sold in the United States. The findings of the researchers are presented in the school’s Made in America Auto Index, as noted in a report from Kelley Blue Book.

The main point: 

• The Tesla Model 3 Performance topped the 2024 Made in America Auto Index, with a total domestic content of 87.5%. 
• The Model 3 Performance was followed by the Tesla Model Y Long Range and the standard Model Y, both of which were listed with a total domestic content of 85%. 
• The Tesla Cybertruck was ranked third in the 2024 Made in America Auto Index, with a total domestic content of 82.5%. 
• The Tesla Model S and Model X were ranked fourth in the list, with a total domestic content of 80%. 

Tesla’s record:

• Last year, Tesla also topped the Kogod School’s Made in America Auto Index. 
• The Tesla Model 3 Long Range and Model Y Long Range topped the 2023 list with a total domestic content of 87.5%. 
• In second place last year were the Tesla Model 3 Performance and the Model Y, both of which were listed with a total domestic content of 85%.

Teslas have the highest amount of American content https://t.co/nDtH5i4z0O

— Elon Musk (@elonmusk) December 11, 2024

What they’re saying: 

• American University associate professor of information technology and analytics Frank DuBois noted that while Tesla was ranked best in the Made in America Auto Index, the vehicles are still equipped with parts from China.
• “Tesla still has Chinese content in their vehicles,” Dubois noted. 
• Tesla CEO Elon Musk acknowledged the Kogod School’s findings in a post on social media platform X.
• “Teslas have the highest amount of American content,” Musk wrote in his post.

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Even Bill Gates, who is one of the richest people in the world.

Gates, who has admitted to Musk personally that he holds a short position in Tesla, is worth $108 billion, according to Forbes.

However, Tesla’s recent stock surge has been burning short sellers for over a month as shares continue to explode and have skyrocketed above the $400 level.

Tesla has regained its trillion-dollar market capitalization and is the eighth-most valuable company in the world, sitting just $300 million behind Meta Platforms, which sits in the seventh position.

Musk and Gates have had a strange relationship. Gates wanted to discuss philanthropy opportunities with Musk several years ago, but Musk declined when he found out the Microsoft founder still held a short position on Tesla, “the company doing the most to solve climate change,” Musk said to Gates in response to the request.

Elon Musk explains Bill Gates beef: He ‘placed a massive bet on Tesla dying’

Over the past month, short sellers have continued to be burned by Tesla’s climb up Wall Street, where it has gained nearly 56 percent since President-elect Donald Trump, a Musk ally, won the election.

Some shorts have gotten out of their positions, but some still remain. While Gates’s position is not currently known, Musk was sure to explain that if he still holds a bet against Tesla, he could be in for bankruptcy if the company can continue to climb and become the world’s most valuable company.

Musk said in the X post:

“If Tesla does become the world’s most valuable company by far, that short position will bankrupt even Bill Gates.”

If Tesla does become the world’s most valuable company by far, that short position will bankrupt even Bill Gates

— Elon Musk (@elonmusk) December 10, 2024

Gates has not publicly talked about Tesla in some time, and he has not disclosed whether he still holds a short against the company currently.

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The Cybertruck was the first Tesla vehicle to not display the ‘T’ on the hood of the vehicle, but everyone knows who manufactures the vehicle. This is essentially what Musk believes will happen with the Cybercab, Tesla’s fully autonomous vehicle.

Tesla has held a unique thesis when it comes to product design. Many of the vehicles are simplistic yet luxurious. Some have some interesting features, the Model X’s falcon wing doors being one of the most easily identifiable amongst them, but Tesla vehicles, at their core, are more focused on tech and safety and not necessarily a flashy design.

This is what has led to Tesla vehicles being easily identifiable. However, the automaker hopes to develop products that will not need a logo at all, and Musk commented on why that might be in a recent post on X.

The Tesla CEO said in the post that products should be so special that they’re identifiable without any sort of logo:

If the product is special enough, no logo is needed

— Elon Musk (@elonmusk) December 8, 2024

Interestingly, this is a point that can be drawn out to several companies, not just Tesla. Without an Apple, most people would be able to identify an iPhone. Without a logo, most people who like cooking would be able to identify a HexClad pan. It’s the look and the design that are recognizable to people.

The same cannot be said for other automakers, at least for the most part. One of the biggest reasons Tesla chose to build the Cybertruck in its polarizing design is because most pickups on the market today look the same. Musk said in the November 2019 presentation of the pickup that it was “hard to tell” which pickups were made by which manufacturers when you remove the company’s name from the front of the truck.

The vehicle itself should be a logo in Tesla and Musk’s minds. It seems it will be that way moving forward.

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According to Reuters’ sources, Indian police sent a notice to Starlink seeking details about its maritime devices. The police appear to believe that Starlink’s maritime device helped smugglers export billions worth of meth. 

The authorities are asking Starlink to reveal the purchaser’s name and payment method. They also asked about registration details and where the devices were used when smugglers traveled in international waters from Myanmar to India. 

Starlink’s response to Indian authority’s inquiries has put it in a precarious position. SpaceX has not yet launched Starlink internet services in India. The Elon Musk-led company is still trying to secure approval from the Indian government. 

Last month, Starlink’s launch in India seemed imminent. It only had to overcome one last obstacle before launch: ensuring that Starlink complies with the Indian government’s security regulations.

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xAI activated Colossus in July. At the time, it was powered by 100,000 Nvidia H100 GPUs. In late October, Elon Musk stated that Colossus will soon be powered by 200,000 Nvidia H100/H200 GPUs.

The key point: 

• As per the Greater Memphis Chamber, xAI is set to expand Colossus’ GPU count to at least 1 million units, as noted in an Insider report. The move is expected to bolster xAI’s position against rivals like OpenAI and Google by further enhancing the capabilities of its large language model, Grok.
• Brent Mayo, an xAI engineer, emphasized the project’s role in local and technological advancement. “In Memphis, we’re pioneering development in the heartland of America. We’re not just leading from the front; we’re accelerating progress at an unprecedented pace while ensuring the stability of the grid utilizing megapack technology,” the engineer said.
• Musk has poked fun at the update, joking that at least 1 billion GPUs will be used in the facility.

Nope, at least 1 biiillioon GPUs! https://t.co/MJxbJN9ZWB

— Elon Musk (@elonmusk) December 5, 2024

Important background:

• Colossus is particularly remarkable because it was built in just 122 days. Musk himself stated that “it took 19 days to get Colossus from hardware installation to beginning training.”
• Nvidia CEO Jensen Huang lauded xAI’s speed and effort, calling it a “superhuman” task and acknowledging Musk’s engineering acumen. Huang also stated that a project like Colossus would typically take about three years to plan and one year to set up.
• xAI’s market value has been on a tear, soaring to $50 billion. This is about double its valuation since spring this year. The company has also raised a notable $11 billion in 2024 so far.

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