关注 「电动车公社」 1月29日 ，特斯拉发布全年财报。2025年特斯拉全球销量 163.63万辆， 同比下降9%。 2025年GAAP营业利润为44亿美元， 2025年GAAP净利润为38亿 美元，营收首次下滑。 | ($ in millions, except percentages and per share data) | Q4-2024 | Q1-2025 | Q2-2025 | Q3-2025 | Q4-2025 | YOY | | --- | --- | --- | --- | --- | --- | --- | | Total automotive revenues | 19,798 | 13,967 | 16,661 | 21,205 | 17,693 | -11% | | Energy generation and storage revenue | 3,061 | 2,730 | 2,789 | 3,415 | 3,837 | 25% | | Services and other revenue | 2,848 | 2,638 | 3,046 | 3,475 | 3,371 | 18% ...

Core Insights - SpaceX is exploring potential mergers with other companies led by Elon Musk, including xAI and Tesla, as it prepares for a public offering this year [1][2][6] - The merger with xAI could integrate Musk's various ventures, including rockets, satellites, social media, and AI technology [2][4] - Predictions indicate a 48% chance of a SpaceX-xAI merger by mid-year and a 16% chance of a Tesla-xAI merger [4] Company Valuations - SpaceX is expected to go public with a valuation likely exceeding $1 trillion, currently valued at $800 billion in a recent private share sale [5] - xAI was valued at $230 billion in November, while Tesla's market capitalization stands at $1.4 trillion [5] Strategic Implications - A merger could complicate SpaceX's IPO but may enhance its efforts to launch data centers into orbit, crucial in the competitive AI landscape [6] - Some Tesla shareholders advocate for the consolidation of Musk's companies, believing it could mitigate risks associated with Musk's divided focus [6][7]

Core Insights - Tesla is discontinuing the Model S and X vehicles, with production set to end in the next quarter, as CEO Elon Musk shifts focus towards manufacturing humanoid Optimus robots [1] - The decision comes amid a decline in sales and deliveries, with Tesla's total revenue decreasing by 3% year-over-year from $25.7 billion to $24.9 billion [1] - Automotive revenues specifically fell by 11% year-over-year, dropping from $19.8 billion to $17.7 billion [1] Production and Delivery Metrics - Production of Model S and X vehicles decreased by 48% year-over-year [1] - Deliveries of these models fell by 51% year-over-year [1] External Factors Impacting Performance - The decline in sales was exacerbated by the termination of $7,500 EV tax credits last fall [1] - Elon Musk's political views and his fluctuating relationship with President Donald Trump may have also influenced consumer sentiment [1]

I had been waiting for Tesla, Inc.’s ( TSLA ) earnings for the last few weeks, and I hoped to hear any new information about the Starlink ( STRLK ) IPO. Instead, CEO Elon Musk didI write about stocks I’m personally interested in adding to my portfolio. I’m not a professional advisor, but I study business and economics and analyze markets full-time. My writing is meant for both complete beginners — I avoid unnecessary complexity — and advanced readers, as I always aim to offer a distinct and well-reasoned pe ...

Core Viewpoint - Elon Musk emphasized the urgent need for American companies to invest in battery-making infrastructure to avoid falling behind in the electric vehicle and energy storage sectors [1][2]. Group 1: Tesla's Actions and Investments - Tesla has begun processing lithium at its $1 billion refinery in Robstown, Texas, and is producing advanced dry-electrode 4680 cells in Austin [3]. - The company is currently the largest and only lithium and cathode refinery in the U.S., indicating a significant investment in domestic battery production [4]. - Tesla's investments in battery infrastructure and energy storage have helped mitigate revenue pressures from its automotive business [6]. Group 2: Industry Context and Risks - An analysis by the Dallas Federal Reserve identified 66 lithium projects in the U.S., many of which are in early development stages and face challenges such as long timelines and high costs [5]. - General Motors has invested $625 million in a lithium mine project in Nevada, which is expected to be the largest in the U.S. and is set to open between late 2026 and early 2027 [6]. - Analysts express concerns about Tesla's commitment of over $20 billion to long-term industrial projects amid uncertainty regarding near-term returns [7][8]. Group 3: Geopolitical Risks - Musk warned that many companies are underestimating their exposure to geopolitical risks associated with fragile supply chains for critical materials [2]. - He stated that companies failing to address these risks could face severe consequences, potentially leading to their demise [9].

The way I look at it, Tesla’s Q4 2025 earnings kind of completes the company’s transition from a tech and electric vehicle (EV) company to predominantly an AI play.There was no comment on the outlook for regulatory credit sales either, which have hitherto been a high-margin revenue stream for the company but are at risk following the easing of Corporate Average Fuel Economy (CAFE) standards by the Trump administration.Meanwhile, as I anticipated in the pre-earnings analysis, there wasn’t much discussion on ...

Let's bring in Steve Wesley. He's the founder of Wesley Group, former Tesla board member. Uh Steve, always good to have you.Just give me your thoughts about the X and the S and saying goodbye to them and the ramp up in, you know, what Musk says will be at what some point a million robots a year coming off the uh the lines. >> Look, it's a tough quarter for Tesla. First year of declining revenues down 3%. Second year of declining auto sales down 9%.Profit down 46%. I mean, the one thing that's increasing her ...

Group 1: Market Overview - The US trading day shows a divergence in major averages, with the Dow down about 104 points (0.25%), the S&P 500 down 0.7%, and the Nasdaq down 1.5% [2][3] - Microsoft is a significant contributor to the Nasdaq's decline, with its shares falling over 11% due to concerns over its capital expenditure plans despite beating second-quarter earnings estimates [8][10] - Meta, in contrast, is up 8.5%, indicating a mixed performance among tech stocks [4][5] Group 2: Microsoft Earnings and Capex - Microsoft reported strong Azure growth, adding approximately $9 billion in annual recurring revenue (ARR) sequentially, but its capex spending plans have raised investor concerns [14][15] - The Azure growth rate was 38% in constant currency, slightly below expectations, contributing to the stock's decline [14][15] - Analysts note that Microsoft's capex is necessary to address capacity constraints and build out data centers, which will take time to translate into revenue [12][16] Group 3: AI and Software Industry Insights - The software industry is experiencing a shift towards AI, with companies like Microsoft and Meta investing heavily in AI capabilities [10][31] - Microsoft Fabric reached $2 billion in ARR, up 60%, indicating strong demand for its AI-driven products [19] - Concerns exist about the sustainability of software companies in the face of AI advancements, but there is potential for significant growth through innovation and customer engagement [30][35] Group 4: Commodities and Economic Indicators - Oil prices have risen over 4%, with WTI at $66 per barrel, while gold and silver prices are also increasing, indicating a commodity super cycle [6][7][68] - Central banks have been significant buyers of gold, purchasing approximately 863 tons recently, contributing to rising gold prices [63] - The US dollar continues to decline, impacting the broader market and commodity prices [6][52] Group 5: Tesla's Strategic Shift - Tesla plans to shift focus from electric vehicles to robotics and autonomous vehicles, with a projected $20 billion in capital expenditures for production improvements [102][103] - The company will wind down production of its Model S and Model X, marking a significant strategic pivot [99][101] - This shift may lead to negative free cash flow in the short term but aims to position Tesla for long-term growth in autonomous technology [102][103]

Tesla, Inc. ( TSLA ) is up around 3% in pre-market trading on Thursday after the company reported Q4 '25 results that came in above consensus. The story here wasn’t the numbers, nor was itI’m a retired Wall Street PM specializing in TMT; since kickstarting my career, I’ve spent over two decades in the market navigating the technology landscape, focusing on risk mitigation through the dot com bubble, credit default of ‘08, and, more recently, with the AI boom. In one word, what I’d like my service to revolve ...

Tesla Stock Extends Declines. Two Reasons.CONCLUDED[Tesla Stock Falls After Earnings. The Stock Is All About AI Now.]Last Updated:---5 hours ago# Tesla Stock Extends Declines. Two Reasons.By[Al Root]Tesla stock was down 1.8% in midday trading on Thursday after the company reported better-than-expected fourth-quarter numbers on Wednesday evening.Investors, for the most part, seemed pleased with the report, with the stock up north of 3% in Wednesday after-hours trading. A couple of things, however, might be w ...