Tesla Stock Rises 4.5% Following Elon Musk's Weekend Announcement
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- YahooFinance
Tesla's shares increased by as much as 4.9% in early trading on Monday, with a notable rise of 4.5% by 11:22 a.m. ET. This surge was attributed to a post from CEO Elon Musk regarding SpaceX's plans to manufacture gas turbine blades, which could enhance Tesla's solar production capacity.
Musk highlighted that both Tesla and SpaceX are working towards producing 100 gigawatts of solar energy annually, although this process will take several years. He emphasized that in-house casting at SpaceX could significantly expedite the availability of natural gas turbines, which are essential for data center construction and align with Tesla's energy solutions.
Investors should monitor Tesla's energy segment, which is poised to play a crucial role in supporting the growing demand for power from data centers. Despite challenges in EV sales, Tesla's solar panels and battery storage are vital for energy generation and grid stability. No further timeline was disclosed at the time of publication.
Original report
Why Tesla Stock Stepped on the Gas Monday Morning
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