GOP Lawmakers In D.C. Poised To Vote On Waivers That Allow California To Set Own Emissions Standards

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US electric vehicle sales are expected to slide nearly 40% in Q4

This is weirdly good news for Tesla.

Last quarter, electric vehicles enjoyed record sales in the US as buyers rushed to get ahead of the end of the federal EV tax credit. Now comes the aftermath.

This quarter, electric vehicle sales are expected to plummet 37% in the US to 230,000, compared with 364,000 in Q4 2024, according to new estimates from Cox Automotive. In a strange turn of events, the decline might actually be good news for Tesla, the biggest EV maker in the US.

Analysts surveyed by FactSet currently expect Tesla deliveries in Q4 to decline 9.5% year over year to 449,000 — down substantially, but not by as much as EVs overall. That means Tesla is picking up EV market share. And as other traditional automakers dial back their EV programs in light of the EV drawdown, Tesla and other pure-play EV companies could continue to gain a bigger slice of a smaller pie.

The data also suggests good news for forthcoming Tesla competitor Slate Auto, which still expects to release an EV truck in the mid-$20,000s next year.

It appears the government’s $7,500 tax credit was integral for growing the EV market, because EVs just aren’t that affordable without the tax credit. There are currently only nine EV models that cost $40,000 or less, Cox reports, compared with 56 models with internal combustion engines under $40,000.

If Slate manages to retain its price target, consumers won’t need the credit to buy one.

Jon Keegan3h

Report: OpenAI in early talks for new fundraising round with $750 billion valuation

Just yesterday, we were reading about how Amazon was in talks to invest as much as $10 billion in OpenAI, with an eye-popping valuation of more than $500 billion. But those numbers might already be old.

A new report by The Information says that OpenAI is in early talks to raise as much as $100 billion, with a $750 billion valuation.

The company is reportedly estimating its fast-growing revenue will hit $100 billion by 2028, but it also expects to burn $115 billion in cash through 2029.

OpenAI Has Discussed Raising Tens of Billions at Valuation Around $750 Billion

The company is reportedly estimating its fast-growing revenue will hit $100 billion by 2028, but it also expects to burn $115 billion in cash through 2029.

Rani Molla5h

Trump Media surges after announcing it is merging with fusion energy company TAE Technologies

Perhaps a strong late candidate for weirdest merger of the year, Trump Media — owner of Truth Social — is combining with fusion energy company TAE Technologies in a $6 billion all-stock deal.

As part of the deal, Trump Media will provide up to $200 million of cash to TAE at signing, with an additional $100 million available once the initial filing of the Form-S4 is completed (form for registering new securities).

The deal will create “one of the world’s first publicly traded fusion companies,” per the press release revealing the combination, which also states:

“In 2026, the combined company plans to site and begin construction on the world’s first utility-scale fusion power plant (50 MWe), subject to required approvals. Additional fusion power plants are planned and expected to be 350 – 500 MWe.”

The announcement sent Trump Media shares up as much as 30% in premarket trading on Thursday, though it’s since shed some of that bump, holding above a 20% gain as of 7:30 a.m. ET.

Republican Presidential Nominee Former President Trump Holds Rally In Butler, Pennsylvania

Tesla investors don’t want Elon Musk involved in politics

The Tesla CEO is spending big on the GOP in midterm elections.

Rani Molla12/17/25

Jon Keegan12/17/25

Report: China’s “Manhattan Project” built an advanced EUV chip fab prototype

The most advanced chipmaking process in the world is currently owned by one company: Dutch chipmaker ASML.

The process, known as extreme ultraviolet lithography (EUV), allows for the smallest, most complex semiconductors to be etched onto silicon chips.

These advanced chips are used in a huge number of crucial industries such as AI, mobile phones, and weapons manufacturing.

A new report from Reuters says that China has completed a factory-sized prototype of an EUV chip fab, a first that could have huge ramifications for the balance of power in the global technology race.

The prototype was built in a high-security facility in Shenzhen by former ASML employees and made use of secondary markets to acquire older, used ASML parts, according to the report. Despite a goal of delivering working chips by 2028, sources say China is likely a couple years behind that schedule.

ASML’s $250 million EUV machines are used to manufacture advanced chips for Nvidia, Advanced Micro Devices, and for chips made by TSMC.

ASML shares were down about 4.8% as of 12 p.m. ET.

Exclusive: How China built its ‘Manhattan Project’ to rival the West in AI chips

These advanced chips are used in a huge number of crucial industries such as AI, mobile phones, and weapons manufacturing.

ASML’s $250 million EUV machines are used to manufacture advanced chips for Nvidia, Advanced Micro Devices, and for chips made by TSMC.

ASML shares were down about 4.8% as of 12 p.m. ET.

Alexander C. Kaufman

Powerhouse

12/17/25

Inside Oklo’s audacious plan to turn leftover weapons-grade plutonium into a nuclear bridge fuel

“There’s enough energy in nuclear waste to power the country for 150 years, and every year we produce enough for another four years,” the CEO of Oklo told Sherwood News.

Blastoff of Missile from Underground Bunker