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Tesla shareholders on Thursday voted to ratify CEO Elon Musk’s mammoth 2018 pay plan, five months after a judge in Delaware ordered the company to rescind the package, finding it had been improperly granted by the board.

At Tesla’s annual meeting in Austin, Texas, the vote in support of the compensation plan, doesn’t override the court’s ruling, but provides a public relations victory for Musk and could help his effort to sway a court to give him his performance options in the future.

Taking the stage after the preliminary results were announced, Musk said, “I just want to start off by saying hot d—! I love you guys.”

Watch Elon Musk speak at the Tesla shareholder meeting now

The compensation package was previously worth as much as $56 billion in Tesla stock. In January, a Delaware court called the pay “unfathomable.” Judge Kathaleen McCormick found that Tesla’s board members lacked independence from Musk, failed to properly negotiate at arm’s length with the CEO and didn’t to give shareholders the full picture before asking them to vote on his pay plan.

Tesla shares rose 2.9% in regular trading on Thursday to close at $182.47 after Musk posted on X that the proposal was set to be approved. The stock is still down 27% for the year, as Tesla reckons with declining sales tied to an aging lineup of electric vehicles and increased competition in China.

The annual meeting featured final votes on a dozen proxy proposals, including an effort by Musk to move Tesla’s site of incorporation out of Delaware, where most large publicly traded companies are incorporated, and into Texas, home to the automaker’s largest U.S. factory. Shareholders voted in favor of the move.

At the last shareholder meeting, in May 2023, Musk predicted the economy would pick up after 12 months, said that Tesla would deliver production Cybertrucks in late 2023, and informed investors that Tesla would “try out a little advertising” and see how it goes.

Recent inflation and jobs numbers point to some improvement. Tesla held a Cybertruck deliveries event in late 2023, and has been advertising over the past year, including on X, the social media company formerly known as Twitter that Musk acquired for $44 billion in late 2022.

However, during last year’s meeting, Musk promised shareholders he would spend less time on the app going forward, calling the business a “short-term distraction.”

He’s still spending plenty of time on other things. Musk is CEO of SpaceX and brain computer interface company Neuralink. Last year he also started a new company called xAI, which has raised billions of dollars to developing large language models and an AI chatbot called Grok that uses data and data center capacity from X.

An exuberant Musk, calling himself “pathologically optimistic,” promised Tesla shareholders at the meeting that the company is making such great progress on developing “vehicle autonomy,” or systems to turn existing Tesla cars into self-driving vehicles, that he believes they can “10x the value of the company.”

While Musk has been promising that level of autonomous technology since 2016, it’s yet to deliver. Meanwhile, competitors including Pony.ai, Didi and Waymo have developed robotaxis and already operate commercial services.

Musk described the company’s ambition to create a ridehailing network populated with Tesla vehicles equipped with self-driving systems, though he didn’t provide a timeline for development and rollout.

“There’ll be some cars that Tesla owns itself.” he said, “But then for the fleet that is owned by our customers, it will be like an Airbnb thing. You can add or subtract your car to the fleet whenever you want.”

Regarding the Cybertruck, which hit the market in late 2023, Musk said deliveries are picking up. He said the company hit a weekly record of 1,300 shipments.

Musk promised Tesla would move into “limited production” of Optimus in 2025 and test out humanoid robots in its own factories next year. Next year, he predicted, the company will have “over 1,000, or a few thousand, Optimus robots working at Tesla.”

WATCH: CNBC’s full interview with ARK Invest CEO Cathie Wood

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How quantum could supercharge Google’s AI ambitions

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How quantum could supercharge Google’s AI ambitions

Inside a secretive set of buildings in Santa Barbara, California, scientists at Alphabet are working on one of the company’s most ambitious bets yet. They’re attempting to develop the world’s most advanced quantum computers.

“In the future, quantum and AI, they could really complement each other back and forth,” said Julian Kelly, director of hardware at Google Quantum AI.

Google has been viewed by many as late to the generative AI boom, because OpenAI broke into the mainstream first with ChatGPT in late 2022.

Late last year, Google made clear that it wouldn’t be caught on the backfoot again. The company unveiled a breakthrough quantum computing chip called Willow, which it says can solve a benchmark problem unimaginably faster than what’s possible with a classical computer, and demonstrated that adding more quantum bits to the chip reduced errors exponentially. 

“That’s a milestone for the field,” said John Preskill, director of the Caltech Institute for Quantum Information and Matter. “We’ve been wanting to see that for quite a while.”

Willow may now give Google a chance to take the lead in the next technological era. It also could be a way to turn research into a commercial opportunity, especially as AI hits a data wall. Leading AI models are running out of high-quality data to train on after already scraping much of the data on the internet.

“One of the potential applications that you can think of for a quantum computer is generating new and novel data,” said Kelly. 

He uses the example of AlphaFold, an AI model developed by Google DeepMind that helps scientists study protein structures. Its creators won the 2024 Nobel Prize in Chemistry. 

“[AlphaFold] trains on data that’s informed by quantum mechanics, but that’s actually not that common,” said Kelly. “So a thing that a quantum computer could do is generate data that AI could then be trained on in order to give it a little more information about how quantum mechanics works.” 

Kelly has said that he believes Google is only about five years away from a breakout, practical application that can only be solved on a quantum computer. But for Google to win the next big platform shift, it would have to turn a breakthrough into a business. 

Watch the video to learn more.

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Nintendo Switch 2 retail preorder to begin April 24 following tariff delays

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Nintendo Switch 2 retail preorder to begin April 24 following tariff delays

An attendee wearing a Super Mario costume uses a Nintendo Switch 2 game console while playing a video game during the Nintendo Switch 2 Experience at the ExCeL London international exhibition and convention centre in London, Britain, April 11, 2025. 

Isabel Infantes | Reuters

Nintendo on Friday announced that retail preorder for its Nintendo Switch 2 gaming system will begin on April 24 starting at $449.99.

Preorders for the hotly anticipated console were initially slated for April 9, but Nintendo delayed the date to assess the impact of the far-reaching, aggressive “reciprocal” tariffs that President Donald Trump announced earlier this month.

Most electronics companies, including Nintendo, manufacture their products in Asia. Nintendo’s Switch 1 consoles were made in China and Vietnam, Reuters reported in 2019. Trump has imposed a 145% tariff rate on China and a 10% rate on Vietnam. The latter is down from 46%, after he instituted a 90-day pause to allow for negotiations.

Nintendo said Friday that the Switch 2 will cost $449.99 in the U.S., which is the same price the company first announced on April 2.

“We apologize for the retail pre-order delay, and hope this reduces some of the uncertainty our consumers may be experiencing,” Nintendo said in a statement. “We thank our customers for their patience, and we share their excitement to experience Nintendo Switch 2 starting June 5, 2025.”

The Nintendo Switch 2 and “Mario Kart World bundle will cost $499.99, the digital version “Mario Kart World” will cost $79.99 and the digital version of “Donkey Kong Bananza” will cost $69.99, Nintendo said. All of those prices remain unchanged from the company’s initial announcement.

However, accessories for the Nintendo Switch 2 will “experience price adjustments,” the company said, and other future changes in costs are possible for “any Nintendo product.”

It will cost gamers $10 more to by the dock set, $1 more to buy the controller strap and $5 more to buy most other accessories, for instance.

WATCH: Nintendo has ‘a lot of work to do’ to convince casual users to upgrade to Switch 2: Kantan Games

Nintendo has 'a lot of work to do' to convince casual users to upgrade to Switch 2: Kantan Games

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Etsy touts ‘shopping domestically’ as Trump tariffs threaten price increases for imports

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Etsy touts 'shopping domestically' as Trump tariffs threaten price increases for imports

An employee walks past a quilt displaying Etsy Inc. signage at the company’s headquarters in the Brooklyn.

Victor J. Blue/Bloomberg via Getty Images

Etsy is trying to make it easier for shoppers to purchase products from local merchants and avoid the extra cost of imports as President Donald Trump’s sweeping tariffs raise concerns about soaring prices.

In a post to Etsy’s website on Thursday, CEO Josh Silverman said the company is “surfacing new ways for buyers to discover businesses in their countries” via shopping pages and by featuring local sellers on its website and app.

“While we continue to nurture and enable cross-border trade on Etsy, we understand that people are increasingly interested in shopping domestically,” Silverman said.

Etsy operates an online marketplace that connects buyers and sellers with mostly artisanal and handcrafted goods. The site, which had 5.6 million active sellers as of the end of December, competes with e-commerce juggernaut Amazon, as well as newer entrants that have ties to China like Temu, Shein and TikTok Shop.

By highlighting local sellers, Etsy could relieve some shoppers from having to pay higher prices induced by President Trump’s widespread tariffs on trade partners. Trump has imposed tariffs on most foreign countries, with China facing a rate of 145%, and other nations facing 10% rates after he instituted a 90-day pause to allow for negotiations. Trump also signed an executive order that will end the de minimis provision, a loophole for low-value shipments often used by online businesses, on May 2.

Temu and Shein have already announced they plan to raise prices late next week in response to the tariffs. Sellers on Amazon’s third-party marketplace, many of whom source their products from China, have said they’re considering raising prices.

Silverman said Etsy has provided guidance for its sellers to help them “run their businesses with as little disruption as possible” in the wake of tariffs and changes to the de minimis exemption.

Before Trump’s “Liberation Day” tariffs took effect, Silverman said on the company’s fourth-quarter earnings call in late February that he expects Etsy to benefit from the tariffs and de minimis restrictions because it “has much less dependence on products coming in from China.”

“We’re doing whatever work we can do to anticipate and prepare for come what may,” Silverman said at the time. “In general, though, I think Etsy will be more resilient than many of our competitors in these situations.”

Still, American shoppers may face higher prices on Etsy as U.S. businesses that source their products or components from China pass some of those costs on to consumers.

Etsy shares are down 17% this year, slightly more than the Nasdaq.

WATCH: Amazon CEO Andy Jassy says sellers will pass cost of tariffs on to consumers

Amazon CEO Andy Jassy: Sellers will pass increased tariff costs on to consumers

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