No one will complain about Tesla's (TSLA +1.16%) past performance. Shares in this innovative business have climbed an impressive 2,760% in the past 10 years (as of March 12). That return crushes the market. There are certainly some early investors who have gotten rich owning this electric vehicle (EV) stock as it made its ascent to global fame and recognition. But is Tesla a millionaire-maker goin...
No one will complain about Tesla's (TSLA +1.16%) past performance. Shares in this innovative business have climbed an impressive 2,760% in the past 10 years (as of March 12). That return crushes the market. There are certainly some early investors who have gotten rich owning this electric vehicle (EV) stock as it made its ascent to global fame and recognition. But is Tesla a millionaire-maker going forward? It's impossible to forecast 10 years into the future Before investors decide to buy any stock, it's probably a good idea to try to figure out what the business will look like 10 years into the future. This exercise forces investors to assess how competitive factors, management's strategy, and financial performance will play out. Obviously, this is much easier for stable and mature companies. It's almost impossible to do for Tesla. The best-case scenario in 2036 is that Tesla's robotaxi service has scaled and is operating in major markets all around the world. In this extremely optimistic situation, the company might be raking in massive amounts of high-margin revenue. Its autonomous vehicle technology would be the moneymaking offering, not purely selling EVs, as is the case right now. What's more, there are plans to reach 1 million Optimus robots produced each year, which is hopefully enough volume to bring costs down. There might be tremendous demand for these machines in various settings both for enterprises and for consumer households. This could be another huge revenue stream. This is exactly how Tesla's bulls are thinking, wishing for a financial windfall in the future. The problem, however, is that no one, not even CEO Elon Musk, has an accurate timeline on when or if these developments will become reality. And this makes buying Tesla stock a shot in the dark. Expand NASDAQ : TSLA Tesla Today's Change ( 1.16 %) $ 4.54 Current Price $ 395.74 Key Data Points Market Cap $1.5T Day's Range $ 394.43 - $ 403.72 52wk Range $ 214.25 - $ 498.83 Volume 3.4M Avg Vol 65...
"...The Entire Internet Has Doomer Fatigue" Authored by James Howard Kunstler, "I can tell the entire internet has doomer fatigue." - Catturd on X The mysterious financial repo markets - which practically no one outside of banking understands (and even some banking insiders don't) - started showing some signs of stress recently (forward rates spiking: 1Y1Y SOFR has risen nearly 50 bps in two weeks...
"...The Entire Internet Has Doomer Fatigue" Authored by James Howard Kunstler, "I can tell the entire internet has doomer fatigue." - Catturd on X The mysterious financial repo markets - which practically no one outside of banking understands (and even some banking insiders don't) - started showing some signs of stress recently (forward rates spiking: 1Y1Y SOFR has risen nearly 50 bps in two weeks, signaling growing concern among dealers and investors about future funding costs) ; though not near the level they did in September 2019, just before You-Know-What sucker-punched the world with lockdowns, stolen elections, and fake vaccines. Half of America still hasn’t got its head straight... and here we go again. The private equity outfits, like giant BlackRock, are wobbling so hard that they had to “gate redemptions” — meaning, investors can’t pull their money out of funds going dark with dubious collateral. It’s exactly what sparks panics. Money can only stand so much unreality. The Rube Goldberg machine of finance — a scaffold of insane complexity designed to bamboozle the rubes — is threatening to fly apart. The world only needs so many pre-owned yachts. Plus, there’s a war on, which has disrupted the regular flow of the world’s primary resource: oil. That’s the really-real side of the picture. The Strait of Hormuz remains closed. You’ve got to wonder how much additional pounding the lunatic state of Iran can take. It’s not clear who is even in charge there . Iran’s supposed foreign minister, one Aras Araghchi, is suddenly offering to give up those 440 kilos of 60-percent enriched uranium that are at the heart of this quarrel. Sounds a little surrender-ish, though he made the offer with a certain defiant bluster. Let’s see where that goes. Maybe the war will be over sooner than you thought. Watch and listen starting at 13:00-minute Mark: With all this in motion, things slip-sliding all over the place, the week ahead may be one in which nobody can think straight or ...
March 16 (Reuters) - Dell's total workforce declined by about 10%, or 11,000 employees, in fiscal 2026, it said on Monday, a sign that the AI server maker is limiting external hiring to reduce costs. The company spent $569 million in severance payments in this period, compared with $693 million a year ago, its annual report showed. Dell had about 97,000 employees as of January 31, down from a...
March 16 (Reuters) - Dell's total workforce declined by about 10%, or 11,000 employees, in fiscal 2026, it said on Monday, a sign that the AI server maker is limiting external hiring to reduce costs. The company spent $569 million in severance payments in this period, compared with $693 million a year ago, its annual report showed. Dell had about 97,000 employees as of January 31, down from about 108,000 employees a year ago. Its workforce had declined by about 10% in fiscal 2025. Silicon Valley employees have grown increasingly concerned about AI disruption in recent months as 60 tech companies have laid off more than 38,000 employees this year, according to Layoffs.fyi, a website tracking sector-wide job cuts. Reuters reported on Friday that social media giant Meta was planning a sweeping layoff that could affect 20% or more of its workforce. Dell, whose shares have risen over 24% so far this year, said last month that it expects revenue from its key AI-optimized servers business to double in fiscal year 2027. In February, it announced a 20% hike in its cash dividend and an additional $10 billion for its share repurchase program. (Reporting by Jaspreet Singh and Utkarsh Shetti in Bengaluru; Editing by Arun Koyyur)
Shares of Advanced Micro Devices (AMD) have delivered a strong performance over the past year, significantly outperforming competitor Nvidia (NVDA). Indeed, AMD stock has climbed 95% over the last 12 months, compared to a gain of around 50% for NVDA stock. Despite this impressive rally, however, AMD has cooled in 2026 and now trades about 26% below its 52-week high. While the stock has cooled off ...
Shares of Advanced Micro Devices (AMD) have delivered a strong performance over the past year, significantly outperforming competitor Nvidia (NVDA). Indeed, AMD stock has climbed 95% over the last 12 months, compared to a gain of around 50% for NVDA stock. Despite this impressive rally, however, AMD has cooled in 2026 and now trades about 26% below its 52-week high. While the stock has cooled off a bit, AMD's underlying business fundamentals remain solid. Strong demand for the company’s server central processing units (CPUs) and Instinct graphics processing units (GPUs) continues to support growth. AMD has steadily strengthened its position in the high-performance computing market, with its data center segment growing rapidly and positioning the firm to deliver solid growth. Rising capital investment by enterprise and cloud customers in advanced computing infrastructure is expected to further sustain demand for AMD's data center solutions. Momentum is also evident across the company's broader product portfolio. AMD is seeing accelerating demand across several major markets, including data centers, personal computers, gaming, and embedded systems. The company has captured meaningful market share in both server and PC processors while rapidly expanding its data center AI business. This growth has been supported by increasing adoption of its Instinct GPUs and software platform among cloud providers, enterprises, and AI developers. Factors Support a Rally in AMD Strong demand trends, an expanding product portfolio, and an improving valuation indicate that AMD stock is poised for a significant rebound. Supporting AMD’s growth is its rapidly expanding data center business. The segment is benefiting from rising demand for high-performance computing and AI workloads. In the fourth quarter of 2025, the data center segment generated $5.4 billion in revenue, representing a 39% year-over-year (YOY) increase. Much of this growth was driven by the launch of the AMD Instinct MI350...
Shares of Advanced Micro Devices (AMD) have delivered a strong performance over the past year, significantly outperforming competitor Nvidia (NVDA). Indeed, AMD stock has climbed 95% over the last 12 months, compared to a gain of around 50% for NVDA stock. Despite this impressive rally, however, AMD has cooled in 2026 and now trades about 26% below its 52-week high. While the stock has cooled off ...
Shares of Advanced Micro Devices (AMD) have delivered a strong performance over the past year, significantly outperforming competitor Nvidia (NVDA). Indeed, AMD stock has climbed 95% over the last 12 months, compared to a gain of around 50% for NVDA stock. Despite this impressive rally, however, AMD has cooled in 2026 and now trades about 26% below its 52-week high. While the stock has cooled off a bit, AMD's underlying business fundamentals remain solid. Strong demand for the company’s server central processing units (CPUs) and Instinct graphics processing units (GPUs) continues to support growth. AMD has steadily strengthened its position in the high-performance computing market, with its data center segment growing rapidly and positioning the firm to deliver solid growth. Rising capital investment by enterprise and cloud customers in advanced computing infrastructure is expected to further sustain demand for AMD's data center solutions. More News from Barchart Momentum is also evident across the company's broader product portfolio. AMD is seeing accelerating demand across several major markets, including data centers, personal computers, gaming, and embedded systems. The company has captured meaningful market share in both server and PC processors while rapidly expanding its data center AI business. This growth has been supported by increasing adoption of its Instinct GPUs and software platform among cloud providers, enterprises, and AI developers. www.barchart.com Factors Support a Rally in AMD Strong demand trends, an expanding product portfolio, and an improving valuation indicate that AMD stock is poised for a significant rebound. Supporting AMD’s growth is its rapidly expanding data center business. The segment is benefiting from rising demand for high-performance computing and AI workloads. In the fourth quarter of 2025, the data center segment generated $5.4 billion in revenue, representing a 39% year-over-year (YOY) increase. Much of this growth was drive...
In this article PL NVDA Follow your favorite stocks CREATE FREE ACCOUNT watch now VIDEO 1:50 01:50 Nvidia CEO Jensen Huang: At least $1T backlog through 2027 Closing Bell Nvidia announced the launch of computing platforms for orbital data centers on Monday during its GTC 2026 conference, a highly anticipated next step for artificial intelligence in space. " Space computing , the final frontier, ha...
In this article PL NVDA Follow your favorite stocks CREATE FREE ACCOUNT watch now VIDEO 1:50 01:50 Nvidia CEO Jensen Huang: At least $1T backlog through 2027 Closing Bell Nvidia announced the launch of computing platforms for orbital data centers on Monday during its GTC 2026 conference, a highly anticipated next step for artificial intelligence in space. " Space computing , the final frontier, has arrived," said CEO Jensen Huang . "As we deploy satellite constellations and explore deeper into space, intelligence must live wherever data is generated." In a press release, the company said that its Vera Rubin Space-1 Module, which includes the IGX Thor and Jetson Orin, will be used on space missions led by multiple companies. The chips are specifically "engineered for size-, weight- and power-constrained environments." Partners include Axiom Space , Starcloud and Planet . Huang said Nvidia is working with partners on a new computer for orbital data centers, but there are still engineering hurdles to overcome. "In space, there's no convection, there's just radiation," Huang said during his GTC keynote, "and so we have to figure out how to cool these systems out in space, but we've got lots of great engineers working on it." The data center buildout that powers AI demand has been blamed for soaring electricity costs . Sending orbital data centers into space has been viewed as one solution, but high costs and low availability of rocket launches remain a barrier. Still, AI companies are racing to make use of space's virtually unlimited solar power. In November, Google announced its ' Project Suncatcher ' initiative, exploring the concept of compute in space. Elon Musk 's xAI was acquired by SpaceX last month in a $1.25 trillion deal with an eye toward building out data centers in space. The company is one of Nvidia's largest customers. SpaceX asked the Federal Communications Commission for approval to launch 1 million satellites for AI centers in January, a plan that has ...
In addition, NVIDIA is collaborating with Amazon to advance Alexa Custom Assistant with multimodal edge AI capabilities on NVIDIA DRIVE AGX™ accelerated compute, enabling automakers to deliver ambient in-cabin intelligence with privacy in mind and enhanced performance. Isuzu and TIER IV are also collaborating on L4 autonomous bus development using the NVIDIA DRIVE AGX Thor™ system-on-a-chip, part ...
In addition, NVIDIA is collaborating with Amazon to advance Alexa Custom Assistant with multimodal edge AI capabilities on NVIDIA DRIVE AGX™ accelerated compute, enabling automakers to deliver ambient in-cabin intelligence with privacy in mind and enhanced performance. Isuzu and TIER IV are also collaborating on L4 autonomous bus development using the NVIDIA DRIVE AGX Thor™ system-on-a-chip, part of NVIDIA DRIVE Hyperion. “The autonomous vehicle revolution is here — the first multitrillion-dollar robotics industry,” said Jensen Huang, founder and CEO of NVIDIA. “Everything that moves will eventually be autonomous. The NVIDIA Hyperion platform and our Alpamayo open reasoning models give vehicles the ability to perceive their surroundings, reason through complex situations and act safely — making scalable, level 4 autonomy possible.” Standardizing on DRIVE Hyperion — supported by the NVIDIA Halos OS safety architecture — enables these partners to accelerate validation cycles and streamline global deployment strategies. By using a standardized reference architecture that integrates compute, sensors, networking and safety systems, manufacturers and mobility leaders can achieve faster fleet learning and more efficient global scaling. SAN JOSE, Calif., March 16, 2026 (GLOBE NEWSWIRE) -- GTC -- NVIDIA today announced that NVIDIA DRIVE Hyperion ™ platform adoption is growing expansively, including with global automakers BYD, Geely, Isuzu and Nissan, as well as leading mobility providers — reflecting rapid momentum toward safe, scalable autonomous vehicle (AV) development. NVIDIA full-stack robotaxis to launch with Uber across 28 markets by 2028, beginning with Los Angeles and San Francisco in the first half of 2027. Story Continues Uber is building one of the world’s most expansive autonomous ride-hailing networks powered by NVIDIA DRIVE Hyperion. Supported by a growing roster of automaker platforms, NVIDIA and Uber today announced an expanded partnership to launch a flee...
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Bailey Lipschultz, Carol Massar and Tim Stenovec. (Source: Bloomberg)
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Bailey Lipschultz, Carol Massar and Tim Stenovec. (Source: Bloomberg)
Fortune Brands Innovations ( NYSE: FBIN ) on Monday said it has launched a search for a new Chief Executive Officer and appointed David Barry as interim CEO, effective immediately. The company said Amit Banati will no longer assume the CEO role in May and has stepped down from the board. Former CEO Nicholas Fink also accelerated his previously planned departure. The board also appointed Ed Garden,...
Fortune Brands Innovations ( NYSE: FBIN ) on Monday said it has launched a search for a new Chief Executive Officer and appointed David Barry as interim CEO, effective immediately. The company said Amit Banati will no longer assume the CEO role in May and has stepped down from the board. Former CEO Nicholas Fink also accelerated his previously planned departure. The board also appointed Ed Garden, founding partner and CEO of Garden Investments, as a director under a cooperation agreement with the investment firm. Separately, CFO Jonathan Baksht stepped down with immediate effect, and Ashley George was named interim CFO while the company searches for a permanent replacement. Source: Press Release More on Fortune Brands Innovations Fortune Brands: Market Share Gains And Conservative Guidance Support Upside Fortune Brands: Recovery Potential Amid A Soft Cycle Fortune Brands Innovations, Inc. (FBIN) Q4 2025 Earnings Call Transcript Fortune Brands to replace CEO before he starts in pact with activist - FT Fortune Brands outlines $3.35-$3.65 EPS guidance for 2026 and $35M cost savings plan as CEO transition announced
Key Points ACT Capital acquired 206,100 shares of Viking Therapeutics in the fourth quarter. The quarter-end position value increased by $7.25 million, reflecting the new share purchase. This new stake places Viking Therapeutics just outside the fund's top five holdings. 10 stocks we like better than Viking Therapeutics › On February 17, 2026, ACT Capital Management disclosed a new position in Vik...
Key Points ACT Capital acquired 206,100 shares of Viking Therapeutics in the fourth quarter. The quarter-end position value increased by $7.25 million, reflecting the new share purchase. This new stake places Viking Therapeutics just outside the fund's top five holdings. 10 stocks we like better than Viking Therapeutics › On February 17, 2026, ACT Capital Management disclosed a new position in Viking Therapeutics (NASDAQ:VKTX), acquiring 206,100 shares worth $7.25 million. What happened According to an SEC filing dated February 17, 2026, ACT Capital Management established a new position in Viking Therapeutics (NASDAQ:VKTX), adding 206,100 shares. The position’s value at quarter-end stood at $7.25 million. What else to know This is a new position, representing 5.86% of the fund’s reportable assets under management as of December 31, 2025. Top holdings after the filing: NASDAQ: KRYS: $14.92 million (12.5% of AUM) NYSE: CVX: $11.96 million (10.1% of AUM) NYSE: XOM: $9.93 million (8.4% of AUM) NASDAQ: ABVX: $8.62 million (7.3% of AUM) NASDAQ: TGTX: $8.02 million (6.7% of AUM) As of Monday, shares of Viking Therapeutics were priced at $36.07, up 177% over the past year and performing roughly in line with the S&P 500’s 18% gain in the same period. Company overview Metric Value Market capitalization $4.2 billion Net income (TTM) ($359.64 million) Price (as of Monday) $36.07 Company snapshot Viking Therapeutics develops clinical-stage therapies targeting metabolic and endocrine disorders, with lead candidates including VK2809 for non-alcoholic steatohepatitis and VK5211 for hip fracture recovery. The firm operates a biotechnology business model focused on advancing proprietary drug candidates through clinical trials, aiming for future revenue from licensing, partnerships, or commercialization. It targets healthcare providers, pharmaceutical partners, and patients affected by metabolic and endocrine diseases, particularly those with unmet medical needs. Viking Therapeutics i...
Key Points Simple low-cost ETFs can help you reach millionaire status if you’re a long-term investor. The Vanguard Russell 1000 Growth ETF has outperformed stock market averages for the past 15 years. With consistent $500 monthly investments, this ETF could build a million-dollar portfolio in 22 years. 10 stocks we like better than Vanguard Scottsdale Funds - Vanguard Russell 1000 Growth ETF › If ...
Key Points Simple low-cost ETFs can help you reach millionaire status if you’re a long-term investor. The Vanguard Russell 1000 Growth ETF has outperformed stock market averages for the past 15 years. With consistent $500 monthly investments, this ETF could build a million-dollar portfolio in 22 years. 10 stocks we like better than Vanguard Scottsdale Funds - Vanguard Russell 1000 Growth ETF › If you want to become a millionaire, one of the best ways is to buy stocks and watch your investments grow over the years with the power of compound interest. You might need less money than you think. One of the easiest investment strategies to try to achieve this goal is to buy growth stock ETFs. The Vanguard Russell 1000 Growth ETF (NASDAQ: VONG) is a popular ETF that lets you own hundreds of large U.S. growth stocks at a low cost. For the past several years, this fund has delivered the potential for millionaire-making returns for its investors. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » Let's take a closer look at how investing in the VONG could make you a millionaire over time. What is the Vanguard Russell 1000 Growth ETF (VONG)? The Vanguard Russell 1000 Growth ETF holds a select group of 391 large U.S. companies. Because the goal of this fund is to offer high investment growth potential, it tends to hold many technology stocks. Looking at the fund's portfolio by sector, Technology makes up 59.7% of the ETF's holdings. Consumer Discretionary stocks are a distant second, with 17.5% of the fund. As is typical for Vanguard ETFs, the VONG charges low fees. This ETF has an expense ratio of only 0.06%. So that means if you invest $1,000 in this fund, the cost that you pay to Vanguard each year will be only $0.60. Want to know which actual stocks you'll get to buy with the VONG? The ETF's top five holding...
U.S. airstrikes against Iran have relied heavily on a familiar but often overlooked aircraft: the MQ-9 Reaper drone. When the U.S. launched a broader wave of attacks on Iranian military targets earlier this month, the first aircraft entering Iranian airspace were not stealth bombers but remotely piloted MQ-9s, The Wall Street Journal reported Monday. The drones have since carried out reconnaissanc...
U.S. airstrikes against Iran have relied heavily on a familiar but often overlooked aircraft: the MQ-9 Reaper drone. When the U.S. launched a broader wave of attacks on Iranian military targets earlier this month, the first aircraft entering Iranian airspace were not stealth bombers but remotely piloted MQ-9s, The Wall Street Journal reported Monday. The drones have since carried out reconnaissance and strikes on hundreds of targets including missile launchers and drone infrastructure. While Iranian Shahed drones have drawn attention for attacks across the Middle East, U.S. forces have been conducting their own drone campaign. Video released by the U.S. Central Command, which oversees operations in the region, frequently shows strikes recorded by Reaper sensors. New weapons expand the drone’s reach The MQ-9 has recently been equipped with 250-pound Small Diameter Bombs, which use fold-out wings to glide toward targets beyond the range of the Hellfire missiles the drone traditionally carries. The aircraft are flown remotely by crews in the United States and can remain airborne for up to 20 hours, allowing operators to monitor areas for long periods before launching a strike. Analysts say drones have proven useful in contested airspace despite their vulnerabilities, the Journal reported. Losses highlight vulnerability The campaign has come at a cost. U.S. officials say roughly a dozen MQ-9s have been destroyed or damaged during operations over Iran, mostly by missiles. One drone was accidentally shot down by a partner nation in the Gulf. Despite those losses, commanders have continued to fly multiple drone patrols simultaneously in an effort to disrupt Iranian missile launches and other military activity. A workhorse nearing the end of production The MQ-9 entered service in 2007 and became a defining aircraft of the wars in Iraq and Afghanistan. The Air Force stopped ordering new Reapers in 2020 and manufacturer General Atomics closed the production line last year aft...
Getty Images Holdings press release ( GETY ): Q4 GAAP EPS of -$0.22 misses by $0.25 . Revenue of $282.3M (+14.2% Y/Y) beats by $36.13M . Net Loss of $90.9 million, compared to a Net Income of $24.7 million in Q4’24. Included in the Q4’25 results are: $60.0 million decrease in income from operations primarily due to $79.1 million increase in loss on litigation and a $4.7 million increase in merger ...
Getty Images Holdings press release ( GETY ): Q4 GAAP EPS of -$0.22 misses by $0.25 . Revenue of $282.3M (+14.2% Y/Y) beats by $36.13M . Net Loss of $90.9 million, compared to a Net Income of $24.7 million in Q4’24. Included in the Q4’25 results are: $60.0 million decrease in income from operations primarily due to $79.1 million increase in loss on litigation and a $4.7 million increase in merger related expenses, $20.4 million increase in interest expense due to higher rates on our refinanced debt and incremental interest expense tied to the debt raised in connection with the merger financing, and $46.4 million decrease in foreign exchange loss primarily due to revaluation of the Euro Term Loan. Net Loss Margin for Q4’25 was 32.2% compared to Net Income Margin of 10.0% in Q4’24. On a non-GAAP basis, adjusted Net Loss* was $4.3 million, as compared to $7.3 million adjusted Net Income* in Q4’24. Adjusted EBITDA * of $104.1 million, up 29.1% year over year and up 27.2% on a currency neutral basis, due primarily to strong revenue growth and the Company’s continued ability to maintain strong profitability. Adjusted EBITDA Margin * was 36.9%, up from 32.6% in Q4’24. Adjusted EBITDA less capex * was $91.1 million, up 39.1% year over year and up 38.3% on a currency neutral basis. Full Year 2025 Financial Summary: Revenue of $981.3 million increased 4.5% year over year and 3.8% on a currency neutral basis. Creative revenue of $556.9 million, up 0.7% year over year and up 0.2% on a currency neutral basis. Editorial revenue of $369.6 million, up 6.9% year over year and 6.1% on a currency neutral basis. Other revenue of $54.8 million, up 35.2% year over year and 35.2% on a currency neutral basis. Annual Subscription Revenue as a percentage of total revenue grew to 54.2%, up from 53.8% in 2024. Net Loss of $206.2 million, compared to a Net Income of $39.5 million in 2024. Included in the 2025 results are: $115.0 million increase in foreign exchange loss primarily due to revalua...
Tesla TSLA has obtained approval from the UK energy regulator Ofgem to supply electricity directly to households and businesses across Great Britain, expanding its presence in the country’s energy sector. The license allows the company to provide electricity to domestic and commercial customers in England, Scotland and Wales. The move reflects Tesla’s plans to expand its energy operations beyond e...
Tesla TSLA has obtained approval from the UK energy regulator Ofgem to supply electricity directly to households and businesses across Great Britain, expanding its presence in the country’s energy sector. The license allows the company to provide electricity to domestic and commercial customers in England, Scotland and Wales. The move reflects Tesla’s plans to expand its energy operations beyond electric vehicles and follows a model similar to its retail electricity business in Texas, which provides low-cost, sustainable electricity for homes, electric vehicles and communities. The electricity supply license was granted to Tesla Energy Ventures and became effective on March 11. The approval allows the company to sell electricity directly to both residential and non-residential customers throughout Great Britain. Tesla’s entry into the UK electricity supply market follows earlier developments that expanded its energy activities in the country. The company received an electricity generation license from Ofgem in 2020. It has also deployed large-scale battery storage projects using Megapack systems and partnered with Octopus Energy to offer a program connecting Powerwall owners to a virtual power plant network (VPP) that provides special electricity rates. Tesla is expected to apply elements of its Texas electricity model in Britain. In Texas, the company operates a VPP that allows Tesla owners to charge vehicles at lower rates and receive credits for exporting electricity stored in Powerwall batteries back to the grid. In the UK, the electricity supply license allows Tesla to sell electricity, but it does not permit the company to provide dual-fuel contracts, meaning customers must maintain separate arrangements for gas supply. The company’s expansion into electricity supply comes as its automotive business has faced pressure in the UK and parts of Europe. Tesla’s vehicle sales in the UK fell 37% year over year in February to 2,422 units. The decline comes amid intens...