China’s Tencent Holdings plans to sell all or a bulk of its $24 billion stake in food delivery firm Meituan to placate domestic regulators and monetise an eight-year-old investment, four sources with knowledge of the matter said. Tencent, which owns 17% of Meituan, has been engaging with financial advisers in recent months to work out… Continue reading Tencent plans to sell all or bulk of Meituan stake worth $24b
Tag: Tesla
Two Sigma, Soros among big hedge funds positioned for tech comebackTech and growth stocks have come screaming back in recent weeks after a brutal H1
Two Sigma Investments, Hudson Bay Capital Management, and Soros Fund Management were among the prominent hedge funds that added stakes in mega-cap technology companies in the last quarter, positioning themselves to potentially benefit from the recent comeback in growth stocks. Two Sigma Investments, for instance, added a new position in Facebook-parent Meta Platforms Inc of slightly more than 1.5 million shares that were worth $248.5 million at the end… Continue reading Two Sigma, Soros among big hedge funds positioned for tech comebackTech and growth stocks have come screaming back in recent weeks after a brutal H1
Elliott exited Twitter during second quarter amid takeover talks
Elliott Management, the hedge fund that pushed for big changes at Twitter two years ago, exited the stock during the second quarter, soon after Elon Musk announced plans to buy the social media company, a regulatory filing shows. The filing on Monday, showed that Elliott no longer owned any common stock in Twitter on June 30. It had owned 10 million shares at the end of the first quarter. Twitter‘s shares,… Continue reading Elliott exited Twitter during second quarter amid takeover talks
Biden to sign law on Tuesday cutting most current EV credits
FILE – President Joe Biden By David Shepardson U.S. President Joe Biden will sign legislation on Tuesday that will eliminate electric vehicle tax credits for most models currently getting up to $7,500 effective. The White House said Biden will sign legislation to approve the $430 billion climate, health and tax bill on Tuesday. The bill… Continue reading Biden to sign law on Tuesday cutting most current EV credits
Tesla Mistakes Horse and Buggy for Murderous Semi Truck
It’s definitely none of those things. Old Meets New Is it a truck? Is it a van? A new viral video, shared on TikTok, shows a Tesla vehicle getting mightily confused by a white, four-wheeled carriage being pulled by a horse. The electric vehicle’s self-driving software can be seen visibly struggling to cope, flipping between… Continue reading Tesla Mistakes Horse and Buggy for Murderous Semi Truck
Amazon Wants 100,000 Electric Vans. Can Rivian Deliver?
Nearly three years ago, Amazon announced that it would buy 100,000 custom-made delivery vehicles from Rivian, a fledgling maker of electric vehicles. On Thursday, after some delays, the companies said hundreds of the vans were finally on the road. The battery-powered trucks are crucial to Rivian’s business plan and survival in a very competitive auto… Continue reading Amazon Wants 100,000 Electric Vans. Can Rivian Deliver?
Ford Increases Battery Supply to Meet Electric Vehicle Goals
Ford Motor said on Thursday that it had reached an agreement to acquire battery packs from a Chinese supplier as it races to ramp up its global production of electric vehicles. The automaker said it would begin purchasing battery packs next year from Contemporary Amperex Technology Company Limited that will be used in electric vehicles… Continue reading Ford Increases Battery Supply to Meet Electric Vehicle Goals
Tesla (TSLA) still dominates US electric car market with 68% market share
Tesla is still dominating the US electric car market, now with a 68% market share. This share is going down as more EVs hit the market. But, the decline is slow and the automaker is increasing its US delivery volumes. For years now, Tesla has dominated the electric auto market in its home country. It… Continue reading Tesla (TSLA) still dominates US electric car market with 68% market share
Tesla releases new picture of its upgraded supercomputer – one of the best in the world
Tesla has released a new picture of its upgraded supercomputer, which is now believed to be the seventh most powerful computer in the world by GPU. For years now, Tesla has been teasing the development of a new supercomputer in-house optimized for neural net video training. Tesla is handling an incredible amount of video data… Continue reading Tesla releases new picture of its upgraded supercomputer – one of the best in the world
We tested Tesla Full Self-Driving Beta in the Blue Ridge Mountains, and it was scary
We tested Tesla Full Self-Driving (FSD) Beta in the Blue Ridge Mountains in North Carolina, and it was a scary experience. FSD Beta enables Tesla vehicles to drive autonomously to a destination entered in the car’s navigation system, but the driver needs to remain vigilant and ready to take control at all times. Since the… Continue reading We tested Tesla Full Self-Driving Beta in the Blue Ridge Mountains, and it was scary