Today was Tesla’s worst day since 2020

It’s been a bad day for many major companies, but hey, at least they’re not Tesla. The electric vehicle company saw its biggest daily decline — more than 15% as of market close — since 2020, the year that was plagued by a global pandemic and ensuing supply chain chaos.

Back in September 2020, Tesla saw its biggest decline ever, 21%, after Standard & Poor’s didn’t add the company to its index of the 500 biggest stocks. Notably, Tesla, which is now on that list, is now the worst-performing stock on the S&P 500 for the year.

Tesla has been facing declining sales, lowered analyst estimates, growing competition, shrinking popularity, a rash of protests against the company and CEO Elon Musk, and tariffs on Mexico and Canada, where many of its parts are manufactured.

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Rani Molla3m

Meta buys chip startup Rivos in effort to lower its reliance on Nvidia

Meta is buying AI chip startup Rivos for an unknown sum, as part of the social media company's effort to decrease its reliance on graphics processing units from Nvidia, Bloomberg reports. Rivos was seeking funding in August at a $2 billion valuation. Meta has been spending exorbitant sums in an effort to create AI models that are smarter than humans, an effort that’s involved investing in developing its own AI chips.

Meta Is Said to Acquire Chips Startup Rivos to Push AI Effort

⚡️ +267% ⚡️

Jon Keegan3h

A new analysis by Bloomberg looked at wholesale electricity prices and found that in the past five years, areas near data centers saw their prices spike as much as 267%. More than 70% of the price increases took place in areas less than 50 miles from a data center.

As tech companies race to build colossal data centers, unprecedented energy demands from the projects are passing some of the costs on to consumers.

Tom Jones

one-stop bot shop

Americans still have hang-ups about using AI as a shopping assistant

Could ChatGPT’s new instant checkout help move the needle?

Woman walking next to humanoid robot carrying shopping bags

Rani Molla4h

OpenAI’s first-half 2025 sales were 16% higher than all of 2024

OpenAI brought in $4.3 billion in revenue in the first half of this year, 16% higher than its total revenue in 2024, The Information reports, citing financial disclosures to shareholders. The ChatGPT maker also burned through $2.5 billion in the same time frame.

Currently the company is generating more than $1 billion in revenue each month, which puts it on track to reach its full-year projection for $13 billion in revenue and $8.5 billion in cash burn — a paltry sum compared to the $115 billion it expects to burn through 2029.

OpenAI’s First Half Results: $4.3 Billion in Sales, $2.5 Billion Cash Burn

Rani Molla

What analysts expect from Tesla’s last quarter with the $7,500 tax credit

Tesla reports Q3 delivery numbers this week.

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