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Tesla Set for Strong Quarter Fueled by Rush to Get Expiring US EV Tax Credits

A Tesla Model Y is parked at a charging station in New Delhi, India, August 11, 2025. REUTERS/Bhawika Chhabra
A Tesla Model Y is parked at a charging station in New Delhi, India, August 11, 2025. REUTERS/Bhawika Chhabra
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Tesla Set for Strong Quarter Fueled by Rush to Get Expiring US EV Tax Credits

A Tesla Model Y is parked at a charging station in New Delhi, India, August 11, 2025. REUTERS/Bhawika Chhabra
A Tesla Model Y is parked at a charging station in New Delhi, India, August 11, 2025. REUTERS/Bhawika Chhabra

Tesla is expected to post a surge in third-quarter results later on Wednesday, thanks to US buyers rushing to take advantage of an expiring $7,500 federal electric vehicle tax credit. But investors and analysts may be more focused on Chief Executive Elon Musk's outlook, including whether new, cheaper versions of its Model 3 and Model Y Tesla can keep US customers buying and attract new ones in Europe and Asia.

The new trims - called Standard - are $5,000 to $5,500 cheaper than their predecessors as Tesla shrank the battery, switched to a less-powerful motor and stripped out myriad features - from rear touchscreens to seat-back pockets. The company also temporarily has slashed lease prices on the higher-priced Premium versions.

The cheaper Standard variants as well as Tesla's offers and discounts to stave off competition globally throughout the year have pressured the company's once-enviable margins, worrying investors, according to Reuters.

Sales of Tesla's aging lineup declined for the first time last year and analysts expect an 8.5% fall this year, in part because of Musk's far-right political rhetoric.

ROBOTAXIS ROLLOUT UPDATE

Musk also will be expected to update on robotaxis, the project that he sees as the key to Tesla's next stage of growth. Musk has said Tesla's robotaxis will serve half the population of the US by year-end.

"What are the relevant metrics - fleet size, cumulative miles, and territories - you expect in Q4 and 2026?" was the top question for the CEO in a note by analysts at Cantor Fitzgerald on Tuesday.

While Musk has pivoted Tesla's focus to robotics and artificial intelligence and much of the company's $1.4 trillion valuation hangs on that bet, most of its current revenue and profit comes from vehicle sales.

Tesla shares, which were down 1.6% on Wednesday, have risen nearly 10% this year, propelled by a record-breaking $1 trillion pay package for Musk that the board proposed last month. The stock is still largely among the laggards in the 'Magnificent 7' group of mega-cap stocks.

Analysts expect Tesla to report a revenue of $26.24 billion in the quarter ended September, up 4.2% from a year earlier, according to data compiled by LSEG. Tesla also will report on whether regulatory credits that it sold to makers of gasoline-powered cars to satisfy pollution standards have faded away after policy changes by the Trump administration.

Automotive gross margin, excluding regulatory credits, is estimated to be 15.6%, according to 19 analysts polled by Visible Alpha. That is lower than 17.05%, a year earlier.

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Technology

India Eyes $200B in Data Center Investments as It Ramps Up Its AI Hub Ambitions

FILE -Google CEO Sundar Pichai, right, interacts with India's Minister for Information and Technology Ashwini Vaishnaw during Google for India 2022 event in New Delhi, Dec. 19, 2022. (AP Photo/Manish Swarup), File)
FILE -Google CEO Sundar Pichai, right, interacts with India's Minister for Information and Technology Ashwini Vaishnaw during Google for India 2022 event in New Delhi, Dec. 19, 2022. (AP Photo/Manish Swarup), File)
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India Eyes $200B in Data Center Investments as It Ramps Up Its AI Hub Ambitions

FILE -Google CEO Sundar Pichai, right, interacts with India's Minister for Information and Technology Ashwini Vaishnaw during Google for India 2022 event in New Delhi, Dec. 19, 2022. (AP Photo/Manish Swarup), File)
FILE -Google CEO Sundar Pichai, right, interacts with India's Minister for Information and Technology Ashwini Vaishnaw during Google for India 2022 event in New Delhi, Dec. 19, 2022. (AP Photo/Manish Swarup), File)

India is hoping to garner as much as $200 billion in investments for data centers over the next few years as it scales up its ambitions to become a hub for artificial intelligence, the country’s minister for electronics and information technology said Tuesday.

The investments underscore the reliance of tech titans on India as a key technology and talent base in the global race for AI dominance. For New Delhi, they bring in high-value infrastructure and foreign capital at a scale that can accelerate its digital transformation ambitions.

The push comes as governments worldwide race to harness AI's economic potential while grappling with job disruption, regulation and the growing concentration of computing power in a few rich countries and companies.

“Today, India is being seen as a trusted AI partner to the Global South nations seeking open, affordable and development-focused solutions,” Ashwini Vaishnaw told The Associated Press in an email interview, as New Delhi hosts a major AI Impact Summit this week drawing participation from at least 20 global leaders and a who’s who of the tech industry.

In October, Google announced a $15 billion investment plan in India over the next five years to establish its first artificial intelligence hub in the South Asian country. Microsoft followed two months later with its biggest-ever Asia investment announcement of $17.5 billion to advance India’s cloud and artificial intelligence infrastructure over the next four years.

Amazon too has committed $35 billion investment in India by 2030 to expand its business, specifically targeting AI-driven digitization. The cumulative investments are part of $200 billion in investments that are in the pipeline and New Delhi hopes would flow in.

Vaishnaw said India’s pitch is that artificial intelligence must deliver measurable impacts at scale rather than remain an elite technology.

“A trusted AI ecosystem will attract investment and accelerate adoption,” he said, adding that a central pillar of India’s strategy to capitalize on the use of AI is building infrastructure.

The government recently announced a long-term tax holiday for data centers as it hopes to provide policy certainty and attract global capital.

Vaishnaw said the government has already operationalized a shared computing facility with more than 38,000 graphics processing units, or GPUs, allowing startups, researchers and public institutions to access high-end computing without heavy upfront costs.

“AI must not become exclusive. It must remain widely accessible,” he said.

Alongside the infrastructure drive, India is backing the development of sovereign foundational AI models trained on Indian languages and local contexts. Some of these models meet global benchmarks and in certain tasks rival widely used large language models, Vaishnaw said.

India is also seeking a larger role in shaping how AI is built and deployed globally as the country doesn’t see itself strictly as a “rule maker or rule taker,” according to Vaishnaw, but an active participant in setting practical, workable norms while expanding its AI services footprint worldwide.

“India will become a major provider of AI services in the near future,” he said, describing a strategy that is “self-reliant yet globally integrated” across applications, models, chips, infrastructure and energy.

Investor confidence is another focus area for New Delhi as global tech funding becomes more cautious.

Vaishnaw said the technology’s push is backed by execution, pointing to the Indian government's AI Mission program which emphasizes sector specific solutions through public-private partnerships.

The government is also betting on reskilling its workforce as global concerns grow that AI could disrupt white collar and technology jobs. New Delhi is scaling AI education across universities, skilling programs and online platforms to build a large AI-ready talent pool, the minister said.

Widespread 5G connectivity across the country and a young, tech-savvy population are expected to help with the adoption of AI at a faster pace, he added.

Balancing innovation with safeguards remains a challenge though, as AI expands into sensitive sectors such as governance, health care and finance.

Vaishnaw outlined a fourfold strategy that includes implementable global frameworks, trusted AI infrastructure, regulation of harmful misinformation and stronger human and technical capacity to hedge the impact.

“The future of AI should be inclusive, distributed and development-focused,” he said.

Technology

Report: SpaceX Competing to Produce Autonomous Drone Tech for Pentagon 

The SpaceX logo is seen in this illustration taken, March 10, 2025. (Reuters)
The SpaceX logo is seen in this illustration taken, March 10, 2025. (Reuters)
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Report: SpaceX Competing to Produce Autonomous Drone Tech for Pentagon 

The SpaceX logo is seen in this illustration taken, March 10, 2025. (Reuters)
The SpaceX logo is seen in this illustration taken, March 10, 2025. (Reuters)

Elon Musk's SpaceX and its wholly-owned subsidiary xAI are competing in a secret new Pentagon contest to produce voice-controlled, autonomous drone swarming technology, Bloomberg News reported on Monday, citing people familiar with the matter.

SpaceX, xAI and the Pentagon's defense innovation unit did not immediately respond to requests for comment. Reuters could not independently verify the report.

Texas-based SpaceX recently acquired xAI in a deal that combined Musk's major space and defense contractor with the billionaire entrepreneur's artificial intelligence startup. It occurred ahead of SpaceX's planned initial public offering this year.

Musk's companies are reportedly among a select few chosen to participate in the $100 million prize challenge initiated in January, according to the Bloomberg report.

The six-month competition aims to produce advanced swarming technology that can translate voice commands into digital instructions and run multiple drones, the report said.

Musk was among a group of AI and robotics researchers who wrote an open letter in 2015 that advocated a global ban on “offensive autonomous weapons,” arguing against making “new tools for killing people.”

The US also has been seeking safe and cost-effective ways to neutralize drones, particularly around airports and large sporting events - a concern that has become more urgent ahead of the FIFA World Cup and America250 anniversary celebrations this summer.

The US military, along with its allies, is now racing to deploy the so-called “loyal wingman” drones, an AI-powered aircraft designed to integrate with manned aircraft and anti-drone systems to neutralize enemy drones.

In June 2025, US President Donald Trump issued the Executive Order (EO) “Unleashing American Drone Dominance” which accelerated the development and commercialization of drone and AI technologies.

Technology

SVC Develops AI Intelligence Platform to Strengthen Private Capital Ecosystem

The platform offers customizable analytical dashboards that deliver frequent updates and predictive insights- SPA
The platform offers customizable analytical dashboards that deliver frequent updates and predictive insights- SPA
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SVC Develops AI Intelligence Platform to Strengthen Private Capital Ecosystem

The platform offers customizable analytical dashboards that deliver frequent updates and predictive insights- SPA
The platform offers customizable analytical dashboards that deliver frequent updates and predictive insights- SPA

Saudi Venture Capital Company (SVC) announced the launch of its proprietary intelligence platform, Aian, developed in-house using Saudi national expertise to enhance its institutional role in developing the Kingdom’s private capital ecosystem and supporting its mandate as a market maker guided by data-driven growth principles.

According to a press release issued by the SVC today, Aian is a custom-built AI-powered market intelligence capability that transforms SVC’s accumulated institutional expertise and detailed private market data into structured, actionable insights on market dynamics, sector evolution, and capital formation. The platform converts institutional memory into compounding intelligence, enabling decisions that integrate both current market signals and long-term historical trends, SPA reported.

Deputy CEO and Chief Investment Officer Nora Alsarhan stated that as Saudi Arabia’s private capital market expands, clarity, transparency, and data integrity become as critical as capital itself. She noted that Aian represents a new layer of national market infrastructure, strengthening institutional confidence, enabling evidence-based decision-making, and supporting sustainable growth.

By transforming data into actionable intelligence, she said, the platform reinforces the Kingdom’s position as a leading regional private capital hub under Vision 2030.

She added that market making extends beyond capital deployment to shaping the conditions under which capital flows efficiently, emphasizing that the next phase of market development will be driven by intelligence and analytical insight alongside investment.

Through Aian, SVC is building the knowledge backbone of Saudi Arabia’s private capital ecosystem, enabling clearer visibility, greater precision in decision-making, and capital formation guided by insight rather than assumption.

Chief Strategy Officer Athary Almubarak said that in private capital markets, access to reliable insight increasingly represents the primary constraint, particularly in emerging and fast-scaling markets where disclosures vary and institutional knowledge is fragmented.

She explained that for development-focused investment institutions, inconsistent data presents a structural challenge that directly impacts capital allocation efficiency and the ability to crowd in private investment at scale.

She noted that SVC was established to address such market frictions and that, as a government-backed investor with an explicit market-making mandate, its role extends beyond financing to building the enabling environment in which private capital can grow sustainably.

By integrating SVC’s proprietary portfolio data with selected external market sources, Aian enables continuous consolidation and validation of market activity, producing a dynamic representation of capital deployment over time rather than relying solely on static reporting.

The platform offers customizable analytical dashboards that deliver frequent updates and predictive insights, enabling SVC to identify priority market gaps, recalibrate capital allocation, design targeted ecosystem interventions, and anchor policy dialogue in evidence.

The release added that Aian also features predictive analytics capabilities that anticipate upcoming funding activity, including projected investment rounds and estimated ticket sizes. In addition, it incorporates institutional benchmarking tools that enable structured comparisons across peers, sectors, and interventions, supporting more precise, data-driven ecosystem development.