Connect with us

Published

on

Elon Musk embraces Republican presidential nominee and former President Donald Trump during a campaign rally at the Butler Farm Show fairgrounds in Butler, Pennsylvania, on Oct. 5, 2024.

Anna Moneymaker | Getty Images

Tesla shares popped 8% on Monday, continuing to ride a postelection rally as President-elect Trump, closely allied with CEO Elon Musk, begins to set up his presidential cabinet.

Analysts at Wedbush reiterated their “outperform” rating on the stock, joining earlier sunny outlooks reacting to Tuesday’s results. Tesla recently reclaimed its $1 trillion market cap after surging nearly 30% last week.

“We are raising our price target on Tesla to $400 from $300 as we believe the Trump White House win will be a gamechanger for the autonomous and AI story for Tesla and Musk over the coming years,” the Wedbush analysts wrote.

Musk’s wealth rocketed past $300 billion in the days since Trump’s decisive electoral win, further cementing his place as the richest man in the world and joining the wave of gains across the technology and crypto sector since post-election trading began.

It’s unclear whether Musk, who spent at least $130 million on Trump’s campaign, will receive an official title in the second Trump White House or will influence policy decisions from his inner circle.

Either way, Musk stands to earn potentially billions from new government contracts with his companies, on top of the $19 billion SpaceX has already been awarded. Some or all of the 19 known ongoing federal lawsuits and investigations into his companies may begin to wind down entirely.

“It is difficult to judge how Elon Musk’s increasingly close public relationship with President Trump could benefit Tesla, but this needs to be monitored closely,” analysts from Bank of America wrote in a note last week, raising their TSLA price target from $265 to $350.

Trump has said previously he may cut the federal $7,500 electric vehicle tax credit, and those credits have historically helped to drive sales of Tesla vehicles.

At one of his final campaign rallies, Trump suggested Musk could be put in charge of “government efficiency,” and he was present on Trump’s phone call with Ukrainian president Volodymyr Zelenskyy two days ago.

CNBC’s Michael Bloom, Annie Palmer and Lora Kolodny contributed reporting.

Continue Reading

Technology

Musk blasts Duffy after Artemis contract spat: He ‘is trying to kill NASA!’

Published

on

By

Musk blasts Duffy after Artemis contract spat: He 'is trying to kill NASA!'

Elon Musk, CEO of SpaceX and Tesla, attends the Viva Technology conference at the Porte de Versailles exhibition center in Paris on June 16, 2023.

Gonzalo Fuentes | Reuters

SpaceX and Tesla CEO Elon Musk criticized acting NASA Administrator Sean Duffy after he told media outlets this week that the billionaire’s space company is falling behind U.S. plans to return to the moon.

“The person responsible for America’s space program can’t have a 2 digit IQ,” Musk wrote in a Tuesday post on X.

In response to other user posts, Musk referred to the transportation secretary as “*Sean Dummy” and said he is “trying to kill NASA!” Musk later posted a poll asking users “Should someone whose biggest claim to fame is climbing trees be running America’s space program?” Musk appeared to be referring to Duffy’s background as a competitive speed climber.

On Monday, Duffy told CNBC that SpaceX was “behind” schedule on building its lunar landing system for the space agency’s Artemis III mission and that he would consider other contracts with competitors such as Jeff Bezos’ Blue Origin.

SpaceX and Blue Origin will have until Oct. 29 to offer ways to speed up the project, a NASA official told CNBC. The agency will also ask the industry to suggest ways to “increase the cadence” of Moon missions.

President Donald Trump selected Duffy to become the acting NASA administrator in July. The position had been vacant since the start of Trump’s presidency. Trump had previously nominated Musk ally Jared Isaacman, but he pulled the nomination earlier this year, saying he was a “blue blooded Democrat, who had never contributed to a Republican before.”

CNBC reported earlier this month that Trump has held talks with Isaacman to reconsider the role.

NASA is racing against China and others to get humans back to the moon for the first time since 1972. The space agency launched the Artemis project under Trump’s first administration with the goal of creating a “long-term presence” on the moon for science and tech discovery.

SpaceX won a contract to build the technology in 2021. Other contractors such as Blue Origin, Lockheed Martin and Boeing are participating in various stages of the program.

But the project has been fraught with setbacks.

NASA launched its first Artemis mission in November 2022. Last December, the agency delayed its planned Artemis missions. NASA’s first Artemis launch with astronauts is now slated for April 2026, with a third mission to land two astronauts on the Moon planned for 2027.

Now, the space agency is also grappling with the aftershocks from an ongoing government shutdown that threatens to stall any plans to reopen contracts. CNBC previously reported that NASA’s employees working on the mission with contractors will work during the shutdown.

WATCH: Transportation Secretary Sean Duffy: SpaceX is behind Artemis III timeline

Transportation Secretary Sean Duffy: SpaceX is behind Artemis III timeline

Continue Reading

Technology

Warner Bros. Discovery’s HBO Max is raising its prices across all plans

Published

on

By

Warner Bros. Discovery's HBO Max is raising its prices across all plans

Nurphoto | Nurphoto | Getty Images

HBO Max is the latest streaming services to raise its prices.

The streaming giant, owned by Warner Bros. Discovery, announced Tuesday that it is raising prices across all plans. HBO Max’s Basic with ads plan is increasing $1 a month to $10.99, the Standard plan is going up $1.50 to $18.49, and Premium is increasing $2 to $22.99. HBO Max last raised prices in June 2024.

The price hikes are effective immediately for new subscriptions. Existing monthly subscribers will be notified 30 days in advance of their plan renewing, with the new prices starting on their next billing date on or after November 20, the company said.

The updates come as the streaming market becomes increasingly saturated with options — and as other major apps hike their prices. Disney raised the price of its Disney+ plans and bundles last month, Apple hiked the price of Apple TV by 30% in August and Netflix raised its prices early this year.

WBD CEO David Zaslav indicated in September that price increases were on the way along with a stricter crackdown on sharing passwords.

“The fact that this is quality, and that’s true across our company, motion picture, TV production and streaming quality, we all think that gives us a chance to raise prices,” Zaslav said at the Goldman Sachs Communacopia + Technology Conference last month. “We think we’re way underpriced.”

As of June 30, WBD said it had 125.7 million paying subscribers to all of its streaming services. That stat includes HBO Max as well as other legacy linear subscribers to HBO, who have access to the streaming service.

HBO Max’s news comes as its parent company, WBD, undergoes changes of its own. The company announced in June that it plans to split into two public companies by 2026. A streaming and studios company would include its movie properties and HBO Max, while a global networks business would include linear channels like CNN and TNT Sports.

At the same time, WBD is fielding takeout interest from companies including Paramount Skydance and said Tuesday it’s open to a sale.

Continue Reading

Technology

Amazon continues expansion of ultrafast 15-minute delivery to UAE after India launch

Published

on

By

Amazon continues expansion of ultrafast 15-minute delivery to UAE after India launch

Packages on a conveyor belt at an Amazon fulfilment center in Dartford, UK, on Monday, July 7, 2025.

Jason Alden | Bloomberg | Getty Images

Amazon on Tuesday launched a new ultrafast delivery service in the United Arab Emirates that can ferry groceries, cosmetics, electronics and other household items to shoppers in 15 minutes or less.

The service is called Amazon Now and includes a range of “everyday essentials,” the company said in a release.

Amazon said orders can be placed “24/7” and are shipped out via micro-fulfillment centers, or small-format warehouses, located in UAE neighborhoods. Each site’s product selection is tailored “based on hyperlocal demand,” the company said.

Some locations can receive deliveries in as little as six minutes, Amazon said.

The launch in the UAE marks an expansion of Amazon Now, which debuted in Bangalore and New Delhi earlier this year. Amazon Now will compete with established “quick commerce” players like Zepto, Swiggy and Blinkit in India, as well as Noon and Careem in the UAE.

Read more CNBC tech news

Amazon has built up a sprawling in-house logistics and fulfillment network over the past several years that’s given it increasingly greater control over delivery speeds.

The company is delivering more items the same or next day after making two-day delivery the standard, and it’s also launching delivery drones in some pockets of the U.S. and Europe, which are capable of dropping off some items in 30 minutes or less.

A wave of instant delivery startups took hold in the U.S. in recent years, promising to drop items at shoppers’ doorsteps in 15 minutes or less, but many of them were acquired or shut down, such as Russia-born Buyk or Fridge No More, while Turkey’s Getir exited the U.S. last year.

Prime members get free delivery for Amazon Now orders that are above $6 (AED 25), while orders below that threshold will incur a delivery fee of about $1 (AED 6).

Google and Amazon race to upgrade voice assistants with AI as OpenAI raises the stakes

Continue Reading

Trending