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Trump Cybertruck
A Tesla Cybertruck with the word “Trump” sits in traffic in Washington, DC (Christopher Furlong/Getty Images)
Government efficiency

Tesla found a way to move more Cybertrucks: Sell them to the Trump administration

There’s more than one way to offload a giant stainless steel truck.

Rani Molla

The Trump administration is set to buy $400 million worth of “Armored Tesla” vehicles — later amended to “armored electric vehicles” — this year, according to State Department documents. That’s good news for Tesla, which has struggled to sell as many cars as it would have liked.

Last year the company had more than a million reservations for the Cybertruck, which came out in the beginning of 2024, but few of those turned into sales. CEO Elon Musk hopes to sell up to 500,000 a year; last year Tesla sold fewer than 40,000 Cybertrucks in the US. That was enough to make it the bestselling electric pickup in America, but that’s a low bar considering relatively few people buy electric pickups (regular pickup sales were in the millions). Additionally, Q4 Cybertruck sales were down 22% from Q3, suggesting sales momentum didn’t pick up later in the year.

Enter the US government, where CEO Elon Musk has cozied up to President Trump. The billionaire is in charge of cutting costs in the US government, but apparently not when it comes to paying himself and his companies.

Let’s do some rough math: let’s assume that $400 million would buy 4,000 $100,000 Cybertrucks. (The base model is around $80,000, and we’ll assume the armoring and add-ons would take it up $20,000.) We’re also assuming the money goes to Tesla as was initially stated, and to Cybertrucks, which are much more apt for armor than, say, a Model 3.

That’s 10% of last year’s total Cybertruck sales in one fell swoop! That’s also more Cybertrucks than the company sold in the US in all of January — the month it became eligible for the $7,500 federal credit — according to data from Wards Auto. Tesla sales, which the company had said would “return to growth” after falling last year, aren’t looking great so far in 2025, as they’ve been dropping around the world.

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Jon Keegan

Judge blocks Pentagon’s move to blacklist Anthropic

A federal judge in Northern California has granted a preliminary injunction blocking the Pentagon from labeling Anthropic as a national security supply chain risk.

The ruling temporarily prevents the Defense Department from restricting the AI company’s access to federal contracts amid a dispute over its refusal to allow certain military and surveillance uses of its technology. The designation could also have shifted lucrative government work toward competitors, including OpenAI.

Earlier this month, Anthropic, the company behind Claude, sued 17 federal agencies and their heads, alleging the government exceeded its statutory authority.

tech
Rani Molla

Report: SpaceX’s record IPO may grant preferential access to retail investors and Tesla shareholders

SpaceX’s impending IPO could raise $40 billion to $80 billion and rank as the largest ever — as well as one of the most unconventional.

The Wall Street Journal reports several ways CEO Elon Musk is considering breaking with IPO norms:

  • Investors in his other companies, including Tesla, could receive preferential access to shares.

  • Individual investors may get a third or more of the allocation, far above the typical ~10% mark.

  • Instead of a traditional road show, Musk wants investors to visit SpaceX facilities in person.

  • Investors in his other companies, including Tesla, could receive preferential access to shares.

  • Individual investors may get a third or more of the allocation, far above the typical ~10% mark.

  • Instead of a traditional road show, Musk wants investors to visit SpaceX facilities in person.

tech
Rani Molla

Tesla released estimates for Q1 deliveries and they’re lower than analysts expected

Ahead of first-quarter earnings next month, Tesla released its own company-compiled Wall Street consensus estimate for deliveries: 365,645 vehicles. While that’s lower than the 382,000 FactSet consensus estimate, it represents a nearly 9% jump from Q1 2025, when Tesla sold 336,681 vehicles.

Tesla started releasing its own consensus estimates to the public — not just institutional investors — for the first time in Q4 2025. The move was seen as a way to temper investor expectations, as other estimates were too high. Last quarter, Tesla’s compilation was closer to actual numbers, which fell 16% year over year.

The market-implied odds from event contracts suggest 64% of traders think Tesla’s Q1 deliveries will be more than 350,000, 44% think it will be higher than 360,000, and just 21% have it at higher than 370,000.

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

ARC-AGI-3

The toughest AI benchmark just got a whole lot tougher

ARC-AGI-3 is the latest version of a clever benchmark that challenges AI models to solve mini video games with no written instructions.

Jon Keegan3/26/26

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Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Derivatives, LLC, or Robinhood Money, LLC. Futures and event contracts are offered through Robinhood Derivatives, LLC.