Tesla is moving closer to completing the design of its next-generation AI5 chip and has already begun development work on its AI6 processor, CEO Elon Musk said Sunday in a post on X. The update marks the company’s most detailed assessment yet of its long-term chip roadmap as it leans deeper into artificial intelligence and
Tesla trades just shy of a $1.3 trillion market cap. And with shareholders now greenlighting an eye-popping pay package for Elon Musk, a central question looms larger than ever: how much of that market value is anchored in Tesla’s business fundamentals, and how much is simply the “Musk premium”? With voices from Wall Street to
Michael Burry, the investor famed for predicting the 2008 housing market collapse, has taken a fresh short position against Tesla Inc., arguing that the electric-vehicle maker’s valuation has reached unsustainable levels. According to a report from Fortune, which cited a post on his Substack newsletter, Burry described Tesla shares as “ridiculously overvalued” and warned that
A US federal judge on Saturday approved the sale of shares in PDV Holding (PDVH), Citgo Petroleum’s Venezuelan parent company, to an Elliott Investment Management subsidiary. The decision followed his acceptance earlier this week of Elliott’s $5.9 billion bid in a court-organised auction to settle Venezuela-linked creditors. The order is the final major legal step
Gold prices hit their highest level in six weeks as hopes for a US Federal Reserve interest rate cut this month fuelled demand. Meanwhile, silver prices on COMEX hit another record high, surpassing $58 per ounce for the first time ever. Oil prices climbed, fueled by supply worries stemming from various factors. These include the
The container shipping industry is bracing for a pivotal shift next year, with the anticipated return of vessels to the Red Sea route—a move that is expected to trigger a wave of congestion at European ports, quickly followed by intensifying pressure on shipping rates. “Container lines deciding to navigate back to the Red Sea is
Hopes for a potential peace plan in Ukraine have sent shockwaves through the energy market this week, causing the gasoil crack spread to plummet to $25 per ton from $35 per ton in a matter of days. A peace deal could lead to the easing of current sanctions imposed on Russia. Should such a de-escalation
A cooling failure at a CyrusOne data center outside Chicago froze trading across CME Group’s entire futures complex early Friday, halting price discovery for oil, gold, currency pairs, and Treasury benchmarks during a critical month-end window. The outage, which began around 9:45 p.m. ET Thursday, left traders staring at static screens while engineering teams scrambled
Gold prices rose to a two-week high and were on track for a fourth consecutive monthly high on rising bets that the US Federal Reserve will cut interest rates next month. Meanwhile, silver prices have outperformed gold this week, with the metal on COMEX hitting a new record high on Friday. The metal has spiked
Oil prices remained flat on Thursday as trading volumes were thin due to the US Thanksgiving holiday. Gold prices fell from two-week high as investors continued to assess the likelihood of an interest rate cut by the US Federal Reserve next month. Silver prices also pulled back after hitting their highest level of $54 per