BusinessInnovationTechnology

Tesla Reports Mixed Q3 Results Amid Musk’s Pay Package Controversy and European Space Alliance Forms

Tesla announced a 37% drop in quarterly profits even as revenue hit a new high, with CEO Elon Musk labeling firms opposing his compensation plan “corporate terrorists.” In related news, European aerospace giants are joining forces to compete with rivals like Starlink.

Tesla’s Financial Performance

Tesla’s third-quarter financial results revealed a mixed picture, with record revenue but a significant profit decline, according to reports. The company reportedly achieved $28 billion in revenue for the three months ending September, a 12% increase from the same period last year, driven by U.S. buyers rushing to secure electric vehicle tax credits before their expiration. However, profits fell by 37% year-over-year, which analysts suggest is partly due to increased costs from tariffs and research investments.

AIManufacturingSemiconductors

Tesla Partners With Samsung and TSMC for Advanced AI5 Chip Production

Tesla CEO Elon Musk has revealed that both Samsung Foundry and TSMC will produce the company’s next-generation AI5 chip. The strategic partnership reportedly aims to enhance Tesla’s autonomous driving capabilities while strengthening the U.S. semiconductor supply chain.

Dual Foundry Strategy for Tesla’s AI Chip

In a significant move within the competitive semiconductor industry, Tesla CEO Elon Musk has reportedly engaged both Samsung Foundry and Taiwan Semiconductor Manufacturing Co. (TSMC) to manufacture Tesla’s next-generation AI5 chip. According to reports from a recent Tesla earnings call, this dual-foundry approach marks a strategic shift for the electric vehicle manufacturer’s semiconductor sourcing strategy.

BusinessStartupsTechnology

Musk Labels Critics of Historic $1 Trillion Tesla Compensation Plan as ‘Corporate Terrorists’

Elon Musk has characterized firms opposing his proposed $1 trillion Tesla compensation package as “corporate terrorists.” The controversial pay plan faces significant investor resistance as legal battles continue over Musk’s previous $56 billion package that remains stalled in Delaware court.

Musk Escalates Rhetoric Over Compensation Battle

Elon Musk has reportedly escalated his confrontation with advisory firms opposing his proposed $1 trillion Tesla compensation package, referring to them as “corporate terrorists” according to sources familiar with his comments. The billionaire’s characterization comes as he faces mounting opposition to what would represent the largest corporate pay package in history if approved.