Elon Musk, the CEO of Tesla Inc., has reconfirmed his dedication to the electric vehicle giant and his other ventures. This reaffirmation comes amidst a significant stock rally, further fueled by his recent $1 billion share purchase.
Elon Musk’s Busy Schedule
On Monday, a user named Greggertruck posted on the social media platform X, praising Musk and Tesla’s recent stock performance, which saw the share price exceed $400 on the NASDAQ.
Guys…. he’s tweeting about the stock. He’s buying the stock. Daddy’s home.
Tesla is back.
Musk responded to the post, stating, “Daddy is very much home.” He then revealed his hectic schedule, which included working with the Optimus engineering team late at night, followed by a redeye flight to Austin, where he arrived at 5 AM. Musk spent his Saturday afternoon engaged in deep technical reviews for the Tesla AI5 chip design. He also visited the Colossus II data center in Memphis to review the progress, which he described as “excellent.”
Am burning the midnight oil with Optimus engineering on Friday night, then redeye overnight to Austin arriving 5am, wake up to have lunch with my kids and then spend all Saturday afternoon in deep technical reviews for the Tesla AI5 chip design.
Following the data center visit, Musk attended 12 hours of back-to-back meetings with various Tesla departments, focusing on AI/Autopilot, Optimus production plans, and vehicle production/delivery.
Elon Musk in ‘Wartime CEO Mode’
Musk’s post coincides with a statement from Wedbush Securities’ investor Dan Ives, who described the billionaire as being in “Wartime CEO mode.” Ives also highlighted the significant market opportunity presented by autonomous driving and artificial intelligence, estimating it to be around $1 trillion for Tesla.
However, not everyone is optimistic about Musk’s $1 billion stock purchase. Experts like Ross Gerber, co-founder of Gerber Kawasaki, have criticized the move, suggesting that Musk should buy more equity in Tesla instead of taking it from shareholders.
Recent Developments at Tesla
Tesla has discontinued the most affordable trim of the Cybertruck, which was priced at $69,990. This decision may be attributed to poor sales figures. In contrast, the Gigafactory in Berlin has announced plans to boost production in Q3 and Q4, citing positive market signals and anticipated increased demand.
Conclusion
Tesla’s stock has seen a significant rally, and Musk’s $1 billion purchase has further fueled the trend. While some experts criticize the move, others see it as a testament to Musk’s commitment to the company. As the electric vehicle market continues to evolve, Tesla’s performance will be closely watched by investors and industry analysts alike.