Tesla Sues Ex-Optimus Engineer Alleging Theft of Robotic Trade Secrets
Zhongjie 'Jay' Li worked at Tesla between August 2022 and September 2024, according to a complaint filed in a San Francisco Federal Court late on Wednesday. Li worked on 'advanced robotic hand sensors—and was entrusted with some of the most sensitive technical data in the program,' Tesla's lawyers said in the complaint.
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China Premier Warns of AI ‘Monopoly' as US Effort Quickens
(Bloomberg) — China will spearhead the creation of an international organization to jointly develop AI, the country's premier said, seeking to ensure that world-changing technology doesn't become the province of just a few nations or companies. Trump Awards $1.26 Billion Contract to Build Biggest Immigrant Detention Center in US The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Can This Bridge Ease the Troubled US-Canadian Relationship? Trump Administration Sues NYC Over Sanctuary City Policy Artificial intelligence harbors risks from widespread job losses to economic upheaval that require nations to work together to address, Premier Li Qiang told the World Artificial Intelligence Conference in Shanghai on Saturday. That means more international exchanges, Beijing's No. 2 official said during China's most important annual technology summit. Li didn't name any countries in his short address to kick off the event. But Chinese executives and officials have taken aim at Washington's efforts to curtail the Asian country's tech sector, including by slapping restrictions on the export of Nvidia Corp. chips crucial to AI development. On Saturday, Li acknowledged a shortage of semiconductors was a major bottleneck, but reaffirmed President Xi Jinping's call to establish policies to propel Beijing's ambitions. The government will now help create a body — loosely translated as the World AI Cooperation Organization — through which countries can share insights and talent. 'Currently, key resources and capabilities are concentrated in a few countries and a few enterprises. If we engage in technological monopoly, controls and restrictions, AI will become an exclusive game for a small number of countries and enterprises,' Li told hundreds of delegates huddled at the conference venue on the banks of Shanghai's iconic Huangpu river. China and the US are locked in a race to develop a technology with the potential to turbocharge economies and — over the long run — tip the balance of geopolitical power. This week, US President Donald Trump signed executive orders to loosen regulations and expand energy supplies for data centers — a call to arms to ensure companies like OpenAI and Google help safeguard America's lead in the post-ChatGPT era. At the same time, the breakout success of DeepSeek has inspired Chinese tech leaders and startups to accelerate research and roll out products such as open-sourced models, robots and AI agents. That parade of technology represents Chinese developers' efforts to set world standards and benchmarks, and grab a bigger slice of the global market. They also dovetail with Beijing's broader efforts to ensure self-reliance on critical technologies in the face of tensions between the world's economic superpowers. The weekend conference in Shanghai — gathering star founders, Beijing officials and deep-pocketed financiers by the thousands — is designed to catalyze that movement. The event, which has featured Elon Musk and Jack Ma in years past, was launched in 2018 to showcase China's cutting-edge technology. This year's attendance may hit a record because it's taking place at a critical juncture in the global race to lead the development of generative AI. It's already drawn some notable figures: Nobel Prize laureate Geoffrey Hinton and former Google chief Eric Schmidt were among industry heavyweights who met Shanghai party boss Chen Jining on Thursday, before they were due to speak at the conference. Going forward, China will seek to propel AI development in the Global South, Li said, referring to a loose gathering that includes Brazil and Africa. Schmidt later echoed Li's call for nations to work together — particularly China and the US. 'The upsides are phenomenal,' he told delegates. 'As the largest and most significant economic entities in the world, the United States and China should collaborate on these issues,' he said. 'We have a vested interest to keep the world stable, keep the world not at war, to keep things peaceful, to make sure we have human control of these tools.' —With assistance from Jing Li and Charlie Zhu. (Updates with Schmidt's comments from the 11th paragraph.) Burning Man Is Burning Through Cash Confessions of a Laptop Farmer: How an American Helped North Korea's Wild Remote Worker Scheme It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Elon Musk's Empire Is Creaking Under the Strain of Elon Musk A Rebel Army Is Building a Rare-Earth Empire on China's Border ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
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Is Now a Good Time To Invest in Uber? Here's What Experts Say
Uber Technologies has been one of the best stocks on Wall Street so far in 2025, with shares rising by about 50% year-to-date to far outpace the broader markets. I'm a Financial Advisor: Read Next: The rideshare company's stock hit a record high of $97.71 in early July. Some analysts see the price reaching $120 by year's end — meaning it could be a good time to invest in Uber. Much of the optimism is based on Uber's strong financial results, which include double-digit revenue growth and a continued uptick in bookings. 'A Real Business' One expert with a positive take on Uber is Edward Corona, a Florida-based trader and publisher of The Options Oracle Newsletter. He's targeting a $107 stock price for the rest of the year as long as the company's current positive trends hold. 'Uber is finally acting like a real business — free cash flow is solid, margins are improving, and they've become the default app for way more than just rides,' Corona told GOBankingRates. Although Uber faces a competitive risk from Tesla's robotaxi, Corona calls that a '2026 problem.' For now, Uber's stock chart has 'been in a steady uptrend, and I like it long here,' he added. How To Turn $100K Into a Million: Is Now A Good Time To Buy? Most experts are upbeat about Uber and recommend buying the stock. The vast majority of analysts polled by MarketWatch — 41 out of 57 — have a 'Buy' rating on the stock. The others rate it either 'Overweight' (4 analysts) or 'Hold' (12). As of July 23, the consensus rating is 'Buy' and the average target price is $101.10. A recent analysis from Motley Fool recommended buying Uber shares 'like there's no tomorrow' and cited the following company strengths: Strong revenue growth driven by double-digit increases in gross bookings for mobility and delivery. Competitive advantages from Uber's 'network effect' and ability to leverage 'vast amounts of data.' Although Uber already operates in more than 15,000 cities worldwide, it's still 'not even close' to reaching its full potential. The stock price is still relatively affordable at less than $100 a share. Among the analysts with a particularly bullish take on Uber is Ken Gawrelski of Wells Fargo. As AInvest noted, Gawrelsk recently maintained his 'Overweight' rating on the stock, and raised his price target to $120 from $100. More From GOBankingRates Are You Rich or Middle Class? 8 Ways To Tell That Go Beyond Your Paycheck This article originally appeared on Is Now a Good Time To Invest in Uber? Here's What Experts Say Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
2 hours ago
- Forbes
The All-New Tesla Model Coming Soon Is Not What You Think
A new Model Y driving in LA (Photo by MEGA/GC Images) So, is there a new, more affordable Tesla in the pipeline? Apparently yes, and it's not what you think. Last week, on a second-quarter Tesla earnings call, the man himself, Elon Musk let the cat out of the bag when he said, 'It's just a Model Y.' Really? What does that mean? Could it mean that it's just a stripped down Model Y? And what about the future of the federal tax credit? Let's face it: Tesla is the only American automaker capable of producing a high-end, realistic, appealing electric vehicle for less than $30,000. And if they have to bring the car back to bare bones to make it sell, then that's what they'll do, apparently. People just don't have enough money to buy Teslas now Musk expanded by saying that, 'The desire to buy our cars is very high. It's just that people don't have enough money in the bank to buy them. That's the issue. So the more affordable we can make the car th Tesla CEO Elon Musk says new car is Model Y. (Photo by Odd ANDERSEN / AFP) (Photo by ODD ... More ANDERSEN/AFP via Getty Images) Then he revealed how potential buyers can possibly offset the purchase price of their car by 'releasing their car to the fleet and have it earn money for them,' suggesting that people may 'lend' their cars back to Tesla in a type of robotaxi relationship perhaps. Musk then went out on a limb by saying he's confident that 'I think this will happen next year in the U.S. at least.' His comments though raise more questions than provide answers. By saying 'it's just a Model Y,' does he mean a 'new' Y with upgraded parts but based on the old platform, which would help to keep costs down? What we do know is that the more affordable Model Y, as referred to by Musk, should be surfacing in Q4 this year. But that will be long after the $7,500 federal tax credit ends—which will make it even tougher for Tesla to get the price down to the sub-$30,000 level that Musk seems to be alluring to. Let's have a quick look at Tesla's current pricing. Today, the Model Y rear-wheel drive variant costs $44,990, which when you factor in the $7,500, drops the price to $37,490. But with that tax credit gone, and we expect it to disappear very soon under the Trump Administration, the price for a current model Y will hover around $44,000. So for Musk to achieve his goal of achieving a sub-$30,000, he will need to find $15,000 worth of savings in specs and features. The question is—which features to strip back? If it's going to be used as some kind of robotaxi, then it will need all of its AutoPilot features. And given that the Y has been rated as one of the safest on the road by Euro NCAP, ANCAP and IIHS, Tesla would not want to skimp on safety features in any way—which would make it difficult to reduce pricing. But Musk has pushed the boundaries of car tech in the past and redefined the genre, so we will give him some latitude and wait for further updates even if his car sales are hurting all over the planet.
