Elon Musk is on a mission to build new supercomputers. As the CEO of Tesla and his new artificial intelligence startup xAI, the tech titan has big plans for how artificial intelligence can help to supercharge his businesses. In January, he wrote on X that Tesla should be viewed as an AI/robotics company rather than … Read more
Traders work on the floor of the New York Stock Exchange during morning trading on August 12, 2024 in New York City. Michael M. Santiago | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they … Read more
Traders work on the floor of the New York Stock Exchange during morning trading on August 12, 2024 in New York City. Michael M. Santiago | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they … Read more
Trade groups say Chinese electric vehicles pose an “existential threat” to the U.S. auto industry. China currently makes about one out of every three of the world’s new vehicles, and it has the capacity to make even more, according to research firm Dunne Insights. But faced with a growing preference for hybrids at home and … Read more
The Rimac Group describes Verne—its new autonomous ride-hailing service—as its “next impossible thing.” First, founder Mate Rimac established his eponymous electric hypercar company in Croatia, a country with no history of carmaking. That went well. Porsche, Hyundai and Softbank all took stakes. The Volkswagen Group gifted him a majority stake in Bugatti in return for access … Read more
A Tesla Model Y is seen on a Tesla car lot in Austin, Texas, on May 31, 2023. Brandon Bell | Getty Images Tesla upgraded the self-driving hardware on the Model Y car it sells in China, Elon Musk’s automaker said on WeChat on Thursday, as it looks to boost sales and fend off rising … Read more
Jeff Farrah, CEO of lobbying group the Autonomous Vehicle Industry Association, which counts Waymo, Cruise, and other self-driving developers in its membership, says keeping motor vehicle regulation authority firmly in states’ hands is consistent with how vehicles have been regulated in the past. “Cities have a role to play in enforcing traffic laws, but life-saving … Read more
Passengers ride in an electric Waymo full self-driving technology in Santa Monica Allen J. Schaben | Los Angeles Times | Getty Images Waymo, Alphabet‘s self-driving car unit, is having a relatively good couple of months – at least, compared to one of its key rivals: GM‘s Cruise. Formerly known as the Google self-driving car project … Read more
DETROIT — General Motors‘ plans to diversify its business through trendy industries such as ridesharing and other “mobility” ventures or startups have largely fallen flat since the automaker started investing in such growth areas in 2016. Cruise, its majority-owned autonomous vehicle subsidiary, is increasingly looking like it might be next. The unit has quickly gone … Read more
Cruise, General Motors’ self-driving development subsidiary, will lay off almost a quarter of its workforce—about 900 employees—the company announced Thursday. The cuts are part of a broader restructuring to focus the robotaxi unit on a narrower path to commercialization. Instead of expanding its commercial robotaxi service to multiple US cities, the company will relaunch its … Read more
