A soldier walks next to a Tesla Cybertruck, which was donated to the National Guard, after powerful winds fueling devastating wildfires in the Los Angeles area forced people to evacuate, in the Pacific Palisades neighborhood on the west side of Los Angeles, California, U.S. Jan. 13, 2025.
Daniel Cole | Reuters
Tesla started offering discounts on new Cybertruck vehicles in its inventory this week, according to listings on the company’s website.
Discounts are as high as $1,600 off new Cybertrucks, with the reduced price depending on configuration, and up to around $2,600 for demo versions of the trucks in inventory, the listings show. Production of the angular, unpainted steel pickups has reportedly slowed in recent weeks at Tesla’s factory in Austin, Texas.
Deliveries of the unconventional pickup began reaching customers in 2023. CEO Elon Musk originally unveiled the Cybertruck in 2019 and said it would cost around $40,000, but its base price in the U.S. was closer to $80,000 over the course of 2024.
Wall Street previously viewed the Cybertruck as an important driver of growth for Tesla’s core automotive sales.
While the Cybertruck outsold the Ford Lightning F-150 last year in the U.S. and became the fifth best-selling EV domestically, according to data tracked by Cox Automotive, its high price, repeat recalls and production issues in Austin hampered growth. In November, Tesla initiated its sixth recall in a year to replace defective drive inverters.
As CNBC previously reported, Tesla’s deliveries declined slightly year-over-year in 2024, even as EV demand worldwide reached a record. A slew of new competitive models from a wide range of automakers eroded Tesla’s market share.
According to Cox data, full-year EV sales reached an estimated 1.3 million in 2024 in the U.S., an increase of 7.3% from the prior year. But Tesla’s sales for the year declined by about 37,000 vehicles.
The Tesla Model Y SUV and Model 3 sedan ranked as the top two best-selling EVs by a wide margin. But both older, more affordable Tesla models saw sales drop from the previous year. Cox estimated Tesla sold around 38,965 Cybertrucks in the U.S. last year.
In recent days, Musk apologized to customers in California for delays in delivering their Cybertrucks. He said the trucks are now being used to bring supplies and wireless internet service to people in Los Angeles impacted by devastating wildfires.
“Apologies to those expecting Cybertruck deliveries in California over the next few days,” Musk wrote on X. “We need to use those trucks as mobile base stations to provide power to Starlink Internet terminals in areas of LA without connectivity. A new truck will be delivered end of week.”
Every weekday, the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Thursday’s key moments. 1. The S & P 500 jumped 1.1% Thursday as the AI trade was back in full force following Nvidia ‘s blowout quarterly earnings. Shares of the chipmaker were up more than 4%, while peer Broadcom , a fellow Club name, surged nearly 6%. Wall Street also digested the delayed September jobs report , which showed that 119,000 jobs were added, well above the estimate of 51,000. The data was positive. But the October print will matter more as the Federal Reserve decides whether to cut interest rates at its December meeting. 2. Palo Alto Networks delivered a better-than-expected quarter on Wednesday evening, featuring beats across every single key metric, such as adjusted earnings per share (EPS), total remaining performance obligation (RPO), and next-generation security annual recurring revenue (ARR). ARR is important because it can demonstrate the success of the company’s subscription-based business model and its “platformization” strategy of bundling its products and services. Management also announced plans to buy cloud management and monitoring company Chronosphere for $3.35 billion. We like the deal because of Chronosphere’s ARR growth, which will make analysts even more bullish on our cyber stock. 3. Eaton announced Thursday that CFO Olivier Leonetti will leave the power management solutions provider next year as part of a planned transition. Leonetti will remain in his role until a successor is named. Management also reaffirmed Eaton’s 2025 guidance. The leadership change doesn’t impact our thesis on the industrial stock, though. It would be a red flag, Jim said, if it were a sudden transition. “You need a really long transition,” he added. Otherwise, investors will worry about the company’s stability and future. Jim continued, “You give them a year that’s really planned.” 4. Stocks covered in Thursday’s rapid fire at the end of the video were: Walmart, Abbott Laboratories, Williams-Sonoma , Block, and Jacobs Solutions . (Jim Cramer’s Charitable Trust is long NVDA, PANW, AVGO, ETN. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Google on Thursday rolled out Nano Banana Pro, its latest image editing and generation tool, continuing the company’s momentum after launching its new Gemini artificial intelligence model earlier this week.
The product is built on Gemini 3 Pro, which was announced on Tuesday and contributed to record-breaking stock highs.
Alphabet’s stock was up 4% Thursday.
Josh Woodward, vice president of Google Labs and Gemini, told CNBC’s Deirdre Bosa that the Nano Banana Pro’s capabilities expand beyond its original iteration, which launched in late August.
“It’s incredible at infographics. It can make slide decks. It can take up to 14 different images, or five different characters, and sort of keep that character consistency,” he said.
He added that internal users have experimented with the feature by inputting code snippets and even LinkedIn resumes to create infographics.
“I think this ability to visualize things that were previously maybe not something you would think of as a visual medium that tends to be one of the magic things people are finding with it,” Woodward said.
The original Nano Banana went viral on social media as users turned photos of themselves or their pets into hyperrealistic 3D figurines. Woodward wrote in an X post in September that the product helped add 13 million new users to the Gemini app in the span of four days.
Nano Banana Pro is currently available in the Gemini app, with limited free quotas, Google’s writing assistant, NotebookLM, as well as the company’s developer, enterprise and advertising products.
Google AI Pro and Ultra subscribers will have access to the product in Google’s search features AI Mode.
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The feature will later also roll out to Ultra subscribers first in Flow, Google’s AI filmmaking tool.
Google introduced another feature in the Gemini app that allows users to upload any image to find out if it was generated by Google AI.
Images generated on free Nano Banana accounts will have a watermark, but it will be removed for Google AI Ultra tier subscribers.
Google has been working to gain ground on OpenAI in the generative AI race, which ignited after the release of ChatGPT in 2022.
Last week, OpenAI announced two updates to its GPT-5 model to make it “warmer by default and more conversational” as well as ” more efficient and easier to understand in everyday use,” the company said.
ChatGPT currently tops the list of free apps on Apple’s App Store, with Gemini in the second spot.
The Gemini app currently has over 650 million monthly active users per month, and Gemini-powered AI Overviews has 2 billion monthly users, Google said in a release. OpenAI CEO Sam Altman said in October that ChatGPT had reached 800 million weekly active users.
Woodward said Google AI products have had growing demand, with many users signing up for Gemini’s subscription plan to have “higher limits with some of these advanced models.”
“We’re seeing high numbers of people coming to lots of these products,” he said. “That’s really the best problem to have, is there’s a lot of demand, and we’re trying to figure out actually how to serve it.”
The company is looking to continue scaling its AI offerings, Woodward said, highlighting Flow, Google’s AI filmmaking tool, and Genie, a “world building” model that is currently available as a limited research preview.
U.S. President Donald Trump and Crown Prince and Prime Minister Mohammed bin Salman of Saudi Arabia stand for a photo with Tesla CEO Elon Musk, Nvidia CEO Jensen Huang and other participants at the U.S.-Saudi Investment Forum at the Kennedy Center on Nov. 19, 2025 in Washington, DC.
Win McNamee | Getty Images
The U.S. has approved sales of advanced Nvidia chips to Saudi Arabia’s HUMAIN and the United Arab Emirates’ G42, authorizing the state-backed firms to buy up to 35,000 chips, worth an estimated $1 billion.
The approval of these chip exports marks a major reversal for the U.S., which had previously balked at the idea of direct exports to state-backed AI companies in the Gulf. Export controls were put into place to avoid advanced American technology making its way to China through the back door of Gulf Arab states.
Before former President Joe Biden left office in January, he administered a final round of export restrictions on advanced AI chips, targeting companies like Nvidia, in a sweeping effort to keep that cutting-edge U.S. intellectual property out of China’s reach.
Now, President Donald Trump is moving to expand the reach of such advanced technology in order to “promote continued American AI dominance and global technological leadership,” the U.S. Commerce Department said in a statement published on Wednesday.
The U.S. Commerce Department approved the chip exports, with the condition the state-backed AI outfits agree to “rigorous security and reporting requirements,” overseen by the Department of Commerce’s Bureau of Industry and Security.
Saudi’s Victory Lap
The export approval follows Saudi Crown Prince Mohammed bin Salman’s trip to Washington this week where the Kingdom pledged to spend $1 trillion in the U.S., up from $600 billion originally committed during Trump’s Gulf tour in May.
“Even if we don’t get to that, both sides have skin in the game,” Afshin Molavi, senior fellow at the Foreign Policy Institute of the Johns Hopkins University School of Advanced International Studies, told CNBC’s Dan Murphy.
Saudi Arabia’s AI company HUMAIN, backed by its nearly $1 trillion Public Investment Fund signed a long list of partnerships with Adobe, Qualcomm, AMD, Cisco, GlobalAI, Groq, Luma, and xAI at a U.S.-Saudi Investment Forum held in Washington, D.C this week. Notably, HUMAIN will be teaming up with Elon Musk’s xAI to build a 500 megawatt data center in the Kingdom.
“What we want to do in 2026 is to build the capacity equivalent to what Saudi has built in the last 20 years, in one year,” Tareq Amin, CEO of HUMAIN, said at the summit. HUMAIN is hoping to position Saudi Arabia as the third biggest global AI hub, after the likes of the U.S. and China.
Winning over the U.S. Commerce Department
Saudi Arabia’s HUMAIN and UAE’s G42 “have the capital to invest, the relationships with Nvidia and the (relationship with the) U.S. government,” Kamil Dimmich, partner and portfolio manager at North of South Capital, told CNBC’s Dan Murphy in an interview on Wednesday.
G42 and HUMAIN are “able to use this to build out regional infrastructure, and they want to leverage that infrastructure to become a global hub for compute,” Dimmich added.
Just two weeks ago, Microsoft secured an export license for advanced chips to the UAE. Microsoft’s key partner in the UAE is G42, but the local AI company was notably absent from the Microsoft announcement, until today.