NVIDIA CEO, Jensen Huang: I want to be involved in nearly everything Elon Musk does.
"For xAI, we're an investor already. The only regret I have is I didn't give him more money. Almost everything that @elonmusk is part of you really want to be part of as well, and and he gave us the opportunity to invest, I'm just delighted by that."
U.S. stocks edged higher (SPX +0.2%, NDX +0.3%) despite overnight Iran missile strikes on U.S. forces and joint U.S.-Saudi hits on Iran-backed sites in Iraq, ending a lull in hostilities; peace talks remain distant. Korean shares plunged -6% after SK Hynix missed estimates, pressuring semis. Brent jumped +3.5% to $87/bbl. Ahead of today’s Fed decision, yields ticked up; crypto and metals rose modestly. I remain cautious on $TSLA despite a -26% decline in shares over the past month, given declining long-term earnings estimates, likely commoditization of autonomous driving technologies, and a stretched valuation. For more detail, see my daily pre-market summary for Subscribers.
$TE: Solar demand is insatiable
Tesla to buy entire output of new solar farm in Texas, most from another in Arizona
Andrea Guzmán, Staff Writer
(The Austin American-Statesman)
Tesla Inc. wants to use more solar energy and is purchasing the entire output of a planned Texas solar farm and nearly all the power generated by a solar plant being built in Arizona to make it happen.
The Austin maker of electric vehicles, batteries and robots has signed a long-term purchase agreement for power from Lumen Farm, which is set to be built in Anderson County, about 100 miles east of Waco. Zelestra, the renewable energy company developing the project, said the plant will have 140 megawatts of capacity.
Separately, Tesla also is buying 90% of the output of a 509-megawatt hybrid solar and battery storage project being built in Arizona, according to an announcement by developer ContourGlobal.
Both are major projects. A plant with generation capacity of at least 1 megawatt is considered utility-scale.
Zelestra said it anticipates starting construction of Lumen Farm by 2027 with full operation by 2029. A spokesperson for the company said the project will finalize contracts for construction and procurement of the main equipment this year.
ContourGlobal’s Project Sterling project in Arizona is on track to be operational in 2028.
Zelestra’s relationship with Tesla goes back at least to 2024, when they reached a power-purchase agreement for 57 megawatts from Zelestra’s Brazatortas I, II and IV solar plants in the Castilla-La Mancha region of Spain, where Zelestra is based.
“As a trusted global partner, we can deliver bespoke solutions for clients in multiple geographies. As such, we are excited to expand our relationship with Tesla to the U.S.,” Zelestra U.S. CEO Phil North said in a statement. “We aim to deliver the project and bring the new solar plant online as quickly as possible to support Tesla’s growing energy needs in Texas.”
Tesla’s needs are increasing as CEO Elon Musk continues pushing the company from its electric vehicle roots and toward artificial intelligence and robotics. The effort has seen Tesla more than double its onsite computing capacity at Gigafactory Texas during the first half of this year.
It also is planning Terafab, which Musk has said will be the world’s largest chip-making factory. The joint venture with SpaceX, xAI and Intel has received tax breaks connected to a massive site near College Station where the plant could eventually employ 3,000 people. Tesla also is near starting production of its Megapack grid-level batteries at a new plant in Brookshire.
Also, Musk-led operations including SpaceX subsidiary Starlink and the Boring Co. have been expanding in Bastrop County.
Other big tech players have also made deals with Zelestra in Texas.
In June, it signed an agreement with Meta for a solar plant in Freestone County. That came after Zelestra’s $600 million green financing credit facility for solar projects in Texas backed by long-term agreements with Meta.
Utility-scale solar generation has been growing rapidly in Texas in recent years. In 2025, the state surpassed California to become the leader in such generation.
Data released this spring by the U.S. Energy Information Administration showed that Texas generated 58,634 gigawatt-hours from utility-scale solar last year, enough to pull ahead of California’s 53,713 gigawatt-hours.
California is still the overall leader when small-scale generation of less than 1 megawatt — such as residential rooftop panels — is included.
The Federal Reserve left interest rates unchanged at 3.50%-3.75%, with three policymakers dissenting in favor of a rate hike. Markets expect a potential increase in September https://t.co/eCEbQyrIQq
@barstoolsports Chase really woke up on Day 1 of camp and decided the entire secondary owed him hands. That fire is either winning them a Super Bowl or getting somebody ejected by Week 3. Who’s he going after next?
BREAKING: Iran is set to receive up to 400 Chinese MANPADS in a new $60–70M deal, the precise weapons sales Trump claimed Xi told him China would never make “under any circumstances," with the first shipments arriving within weeks, per Reuters citing three sources.
The contract covers QW-12 and FN-16 shoulder-fired surface-to-air missiles, signed with Hong Kong-based Zhongqing Baoshang as intermediary. Deliveries fly from Urumqi in western China and transit Pakistan.
China said four days ago it “strongly supports Iran in safeguarding its sovereignty, security, and national dignity.”
Cybertruck utility brings software thinking to a bold and functional platform. Clean design and useful intelligence can work together. $TSLA #ModelY#Model3#Cybertruck#FSD