BofA's Hartnett says artificial intelligence (AI) is a 'baby bubble' for now

California pushes Biden Admin to ban sales of new gas-vehicles by 2035

According to an exclusive report from Reuters on Tuesday, California's Air Resources Board (CARB) has asked the Biden administration to give the green light to a plan that would require all new vehicles sold in the state by 2035 to be either electric or plug-in electric hybrids. This landmark move, mentioned in a letter seen by Reuters, could help hasten the... More

Secretary Buttigieg voices 'real concern' over Tesla (TSLA) autopilot driver interaction

U.S. Transportation Secretary Pete Buttigieg voiced his concerns Tuesday over the interaction between Teslas (NASDAQ: TSLA) full self-driving program and drivers.

"There is a real concern that's not limited to the technology itself but the interaction between the technology and the driver," Buttigieg told reporters when asked about the Tesla Autopilot probe.

This issue has been under investigation by the National Highway Traffic Safety Administration (NHTSA) since 2021,... More

Oppenheimer remains sidelined on Tesla (TSLA), acknowledges innovation and production milestones

Oppenheimer reiterated a Perform rating on Tesla (NASDAQ: TSLA) after visiting the electric automakers factory in Austin Texas. Austin production reached 5K vehicles/week in May shortly after Berlin.

Based on Oppenheimer's analysis, the current production of 4680 batteries is on track to sustain a rate of 1,000 vehicles per week. They anticipate that Tesla will primarily dedicate the majority of its 4680 battery capacity to support the ramp-up of the Cybertruck production, considering the improved availability of... More

Tesla (TSLA) expands Canadian market with China-made Model 3 and Model Y vehicles

Tesla's (NASDAQ: TSLA) website confirmed on Tuesday that the electric vehicle company has officially made China-produced Model 3 and Model Y models available for purchase in Canada. This announcement confirms that Tesla has successfully completed its initial shipments from its Shanghai factory to North America.

The website showed both... More

Microsoft (MSFT) and Google PTs raised at Jefferies following AI deep-dive

Jefferies analyst Brent Thill raised the price targets on Microsoft (NASDAQ: MSFT) to $400 from $350 and Alphabet (NASDAQ: GOOGL) to $150 from $130 in a note Tuesday, following an AI deep dive.

The analyst, who maintained a Buy... More

Exxon (XOM) quietly joins lithium hunt as EV demand continues to grow

A Wall Street Journal exclusive reports over the weekend that the oil and gas company, Exxon Mobil (NYSE: XOM) recently purchased drilling rights to a sizable chunk of Arkansas land from which it aims to produce lithium, a key ingredient in batteries for electric cars, cell phones and laptops.

Exxon has reportedly acquired... More

Bernstein skeptical that Apple (AAPL) India will follow China growth

Bernstein analyst Toni Sacconaghi is skeptical that Apple's (NASDAQ: AAPL) business in India will necessarily follow China's growth trajectory.

The analyst told investors in a note Monday that Apple's revenues in emerging markets have been relatively flat as a percentage of total company revenues for the last decade.

"Moreover, when compared with other consumer/luxury brands, Apple's revenue percentage in these... More

Apple's (AAPL) AR/VR headset can succeed where others have not - Goldman Sachs

Goldman Sachs analyst Michael Ng told investors in a note Monday that the firm believes Apple's (NASDAQ: AAPL) AR/VR headset can succeed where others may have not.

Ng's note previewed Apple's keynote presentation at its Worldwide Developers Conference (WWDC) on June 5.

The analyst,... More

Gotion High-Tech launches 1000km range EV battery

Chinese battery maker, Gotion High-Tech on Friday launched its in-house L600 Astroinno battery cell and pack under the LMFP lineup at the 12th Gotion Technology Conference. The companye new battery features a range of up to 1000km, setting a precedent for developing NCM-free batteries. The batterys debut follows a procurement letter from Volkswagen designating Gotion as a supplier for the automaker's overseas markets.

Dr. Cheng Qian, Executive President of the International Business Unit of Gotion High-Tech, who released... More

Lawsuit claims Revel driver experienced 'unintended acceleration' in Tesla (TSLA)

A driver for electric ridesharing startup, Revel is suing Tesla (NASDAQ: TSLA) over claims of "unintended acceleration". The plaintiffs lawyer noted that a Tesla suddenly and automatically took off, forcing the driver to crash the vehicle.

The lawsuit was filed earlier this week with the New York State Supreme Court. The filing noted that plaintiff Akm Shamsuzzaman showed up for work at Revel Transit, where he was employed as a driver, on January 29 and was assigned to... More

U.S. administration announces $51M investment towards EV charging network

The Biden-Harris administration, on Thursday announced a $51 million Ride and Drive Electric funding opportunity through President Bidens Bipartisan Infrastructure Law to accelerate the electrification of the nations transportation sector and spur private sector investments in clean transportation.

This funding will help to increase reliability of chargers by providing funding for validating and testing charging equipment and increase opportunities for underserved communities through new jobs and training resources.

Thanks to President Bidens Investing in America agenda, we are developing a... More

Apple (AAPL) restricts employees use of ChatGPT and other AI tools - WSJ

iPhone maker Apple (NASDAQ: AAPL) is restricting the use of ChatGPT and other external artificial intelligence tools for some employees, according to a report by The Wall Street Journal Friday.

The WSJ said a document it has seen, and its... More

Deutsche Bank 'encouraged' by Tesla (TSLA) following tour of Texas Gigafactory

Deutsche Bank reiterated a Buy rating on Tesla (NASDAQ: TSLA) and maintained their 12-month price target on the stock at $200.00 after hosting investors in Austin for a guided tour of the electric automakers Texas Gigaplant. They also held meetings with the companys Head of IR Martin Viecha and Director Travis Axelrod.

Analyst Emmanuel Rosner was, once again, impressed with the plant, which he says is well designed and runs very efficiently, and is clearly making good progress in ramping up both vehicles and battery cells volumes, and in installing tooling for... More

Tesla (TSLA) Tesla 'serious' about establishing presence in India says Minister

During an interview with Reuters on Friday, the Deputy Minister for Technology of India said that Tesla Inc. (NASDAQ: TSLA), the electric automaker, is "serious" about plans to establishing a manufacturing presence in the country. This week, Tesla engaged in discussions with Indian officials, covering multiple subjects such as incentives for car and battery manufacturing,... More

Wall St slips on debt ceiling uncertainty

By Chuck Mikolajczak

NEW YORK (Reuters) - U.S. stocks closed out the trading week on a soft note on Friday as early gains dissipated after U.S. debt ceiling negotiations in Washington were paused, denting optimism a deal could be reached in coming days to dodge a default.

Stocks had rallied over the past two sessions on growing confidence a deal to raise the $31.4 trillion debt limit could be reached in coming days, with the benchmark S&P 500 climbing more than 2%. But an initial advance on Friday reversed on reports of the pause in talks while... More