Latest news with #Austin-based
The Star
a day ago
- Automotive
- The Star
Tesla invited influencers to test its robotaxi. Here's what they had to say
For now, the test vehicles are operating in a limited area. — Reuters AUSTIN: A handpicked group of passengers invited for early rides from Tesla Inc's autonomous, nearly driverless ride-hailing service seemed to like it. But video some posted to social media suggests the automaker's system struggles to comply with traffic laws. Some passengers were wowed by the car's ability to slow for speed bumps, an ambulance or to avoid hitting a pedestrian. One said it did just as well after sundown as during the day. Another was wild about what it may mean for the Austin-based automaker's future. "I was completely mind blown that the same car I can buy today starting at around $38k – which also happens to be the best selling car in the world – just did paid driverless rides around Austin, TX without someone behind the steering wheel and pedal," X user @farzyness posted after three rides in one of the Model Y vehicles being used as robotaxis – which actually start at more than US$50,000 (RM 212,199) , according to "The implications from this are far-reaching and very disruptive. This breaks transportation." He was among a handful of online Tesla influencers – fans who post regularly about the company on social media– who received invitations to download the Robotaxi app and try the company's service Sunday in Austin. It's not available yet to the general public. Rival Waymo already has deployed driverless taxis in Austin, Los Angeles, San Diego and other cities using a different technology that allowed it to get to market faster. It recently completed its 10 millionth paid ride and has begun testing in San Antonio and other cities. Other companies also are testing in Austin. Tesla CEO Elon Musk has made the robotaxi program a priority, and any trouble with it could be highly damaging to the company's stock price, which had tumbled 20% this year. Last Sunday's limited rollout appeared to give it a boost, though, with the share price rocketing at Monday's opening bell. It closed up more than 8% and was up slightly in after-hours trading. Also among the passengers was Rob Maurer, an investor whose live ride video shows the Model Y he's in entering an intersection in a left-turn-only lane. The Tesla hesitates to make the turn, swerves right and continues into an unoccupied lane meant for traffic moving in the opposite direction. A honking horn can be heard as the robotaxi returns to the correct lane over a double-yellow line, a violation. Other riders shared videos of Tesla robotaxis exceeding the posted speed limit by 4 or 5 mph (6.43kph or 8kph). For now, the test vehicles are operating in a limited area. The current geofence area goes as far south as Ben White Boulevard and US 290, west to Texas State Loop 1, north to Cesar Chavez Street and east to US 183. According to CEO Elon Musk, Sunday's trial had a flat fee of US$4.20 (RM18) for the select group. It was unclear if Tesla paid for the influencers' trips to Austin, their robotaxi fares or for social media posts about the service. The company hasn't responded to requests for comment. "As an Early Access Rider, you can be among the first to use our new Robotaxi App and experience a ride within our geofenced area in Austin," the invitations said. "Through this exclusive preview, you'll have the opportunity to provide valuable feedback." Though there was no one behind the wheel, information sent with the invitations indicated front-seat human safety monitors – Tesla employees riding with Sunday's invitees – would be subject to the same restrictions as drivers of Tesla models with the so-called Full Self-Driving system. That means the cabin camera was watching the monitor's eyes to make sure they're on the road and, presumably, warn them if they're not. A few of the videos posted Sunday showed monitors turned around to look at a passenger in the back seats. – San Antonio Express-News/Tribune News Service
Axios
2 days ago
- Entertainment
- Axios
Things to do in Austin June 27-29
Here's what's on deck this weekend. Friday 🎸 Jam out to Phish at the Moody Center on Friday and Saturday. Doors open at 6:30pm. 🍿 Catch screenings from local filmmakers at AFS Cinema during the Austin Asian American Film Festival. Saturday 🎉 Head to Bastrop for the city's Big Bang Festival, featuring a pet parade at 8am and full day of games at Fisherman's Park. Free. 🎶 Enjoy free music at H-E-B South Congress' monthly concert series at 11am, featuring Austin-based singer Kelley Mickwee. Sunday
The Hill
3 days ago
- Business
- The Hill
Lab-grown barbecue sales banned in Texas
AUSTIN (KXAN) — If someone wants to eat a meatball made of wooly mammoth and grown in a lab, they're going to have to do it outside of Texas. A new law passed this legislative session has made it illegal to sell 'cell culture protein for human consumption within' Texas. Senate Bill 261 will go into effect Sept. 1, 2025, and will expire in 2027. The law makes Texas the seventh state to ban the sale of lab-grown or cultured meat. Indiana passed a similar law in May. Nebraska, Montana, Mississippi, Alabama and Florida also have bans in effect. 'As ranchers, we produce 19% of the world's beef with only 6% of the world's cattle,' said Carl Ray Polk, with the Texas Southwest Cattle Raisers Association, at a committee hearing on March 31, 'but some have decided a lab is better than a pasture.' 'The lab-grown meat sector will continue to face headwinds as consumers and lawmakers learn more about the lack of long-term health studies and use of 'immortalized cells,'' said Jack Hubbard, executive director of the Center for the Environment and Welfare (CEW), in a press release. CEW, a think tank, is one of the leading critics of lab-grown meat. The bill was authored by Sen. Charles Perry, R-Lubbock, and sponsored by Rep. Stan Gerdes, R-Texas, in the House. 'Texas prides itself on being open for business, and yet here we have a law that's shutting down a business,' said Katie Kam, CEO and founder of Bio B-Q. Her Austin-based company aims to make lab-grown brisket. 'Cultivated meat, in our view, is safer than the conventional meat that is produced in a large scale that's on the market right now,' said Dr. Uma Valeti, CEO and Founder of Upside Foods. Lab-grown meat is part of a larger trend in the meat industry towards sustainable meat products that don't contribute to climate change. According to the United Nations, 14.5% of human-caused greenhouse gas emissions are created by livestock farming. Multiple companies have sprung up in recent years focused on lab-grown meat, including Upside Foods, Vow Foods and Eat Just. The companies make a variety of meat products ranging from egg to quail. 'It's really important for our national security to be able to put meat on the table from an animal-based source,' Dr. Valeti said. Lab-grown meat is made by placing protein cells in a vat where they reproduce. 'They're floating around, they're growing, we harvest them, and we have the cell mass that we can then turn into a range of different products,' George Peppou, CEO and co-founder of Vow Food, said to Nexstar's KXAN in 2023. Questions about safety of lab-grown meat were brought up at the committee hearings in March. 'Because these products are so new, there has been no long-term research,' Polk said. 'There is no slaughterhouse, there is no poop, there is no skin, guts, there's no antibiotics used. We don't have pesticides or herbicides that are on the grass that an animal is eating. We do not have plastics or microplastics. So in all of these things, cultivated meat is a step above in terms of production quality, cleanliness and safety,' Dr. Valeti said. Right now, cultured or lab-grown meat is only legal in Singapore and parts of the United States. Israel and the Netherlands have relaxed some restrictions on the product.
Business Wire
3 days ago
- Business
- Business Wire
Equal Parts Continues Expansion with Acquisition of Assurely, Adding Proprietary D&O Platform for Startups
AUSTIN, Texas--(BUSINESS WIRE)-- Equal Parts, a next-generation insurance agency combining traditional relationships with AI technology, today announced its acquisition of Assurely, an Austin-based agency focused on startups and emerging companies. I've always believed that every company deserves access to proper, cost-effective insurance coverage, regardless of how complex or unique they might be. Founded by David Carpentier and Ty Sagalow, Assurely has built a reputation for tackling unique insurance challenges, particularly for companies with complex capital structures, crowdfunding components, and non-traditional investor bases. The company's flagship offering, the TigerMark MGA program, provides proprietary Directors & Officers (D&O) insurance specifically designed for early stage companies that struggle to secure adequate coverage through conventional channels. 'David and the Assurely team exemplify what we mean by going further for clients,' said Mike Witte, CEO and co-founder of Equal Parts. 'They didn't accept that certain companies were 'hard to insure' — they created an entirely new solution. By integrating TigerMark into our connected platform, we can scale this offering while dramatically improving operational efficiency through automated workflows.' Equal Parts' technology infrastructure will transform Assurely's operations by connecting previously siloed systems and eliminating manual processes. This approach solves a critical challenge for traditional agencies that struggle with disconnected point-to-point systems, targeting the operational margins that enable continued innovation. 'I've always believed that every company deserves access to proper, cost-effective insurance coverage, regardless of how complex or unique they might be,' said Carpentier. 'Equal Parts shares that philosophy and has the platform to scale these kinds of specialized solutions. Together, we can serve more founders, solve more complex problems, and continue pushing the boundaries of what's possible in insurance.' This marks Equal Parts' second acquisition since its launch in March 2025, following the purchase of Lumen Insurance. Together, the two agencies create complementary capabilities — Lumen brings expertise in serving venture-backed tech startups throughout their lifecycle, while Assurely adds specialized solutions for companies with strategic early investors, non-traditional funding, or complex capitalization structures. The combined expertise enables Equal Parts to serve virtually any emerging company. 'We're not just acquiring agencies — we're creating a platform where talented professionals can scale their impact,' added Witte. 'David achieved what the insurance industry said couldn't be done. Now we're amplifying it through our technology infrastructure.' About Equal Parts Equal Parts is an insurance innovation company that acquires exceptional independent agencies and empowers them with cutting-edge AI tools designed to enhance, not eliminate, the human touch. Launched in March 2025 with $10 million in acquisition capital led by Equal Ventures and Max Ventures, the company enables insurance professionals to focus on what they do best—building and maintaining client relationships—while AI handles mundane back-office tasks. The company aims to generate $1 billion in premiums over the next three to five years. About Assurely Assurely is an Austin-based insurance agency specializing in serving complex early stage and emerging companies. Founded by David Carpentier and Ty Sagalow, the company is known for its TigerMark MGA program, which provides specialized D&O coverage for companies with non-traditional capital structures. Assurely's expertise in fintech, alternative funding models, and complex business structures has made it a trusted partner for founders building ambitious companies that traditional insurance providers struggle to serve them.
Yahoo
3 days ago
- Business
- Yahoo
Can Oracle Stock Hit $250 in 2025?
The dominance of traditional hardware is giving way to a new era defined by software-driven innovation and cloud-based infrastructure. With artificial Intelligence (AI)-infused cloud platforms leading this charge, the spotlight's now firmly on firms built for scale, speed, and smarts. Among them, Oracle (ORCL) has quietly morphed from a legacy database provider to a heavyweight in cloud infrastructure and enterprise AI. The tech giant is once again receiving attention after it reported a robust Q4 report - a growth story that's caught Wall Street's attention. Guggenheim analyst John DiFucci raised his price target on ORCL stock from $220 to $250, and believes that the company is on the verge of a 'narrative shift' after decades of technological innovation, while expecting a bigger jump in its top and bottom line. Tesla's Robotaxis Reportedly Sped and Veered Into the Wrong Lanes. Does This Crush the Bull Case for TSLA Stock? 1 Dividend Stock to Buy Yielding Over 7% Up 93% in 2025, Palantir Stock Is Too Hot to Handle Here Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. So now, with the stars aligning and Wall Street tuning in, could Oracle be quietly charting its course toward the $250 mark? Austin-based Oracle (ORCL) has grown into a tech powerhouse with a market cap of $604.7 billion. Best known for its Oracle Database and autonomous systems, Oracle delivers a broad spectrum of cloud solutions - from ERP and HCM to NetSuite. Its reach spans industries, governments, and education, backed by hardware and consulting arms. With relentless innovation, Oracle remains a cornerstone in shaping the cloud-first, data-driven future of global enterprise technology. With strong earnings and booming cloud momentum, ORCL stock has soared 51.4% over the past 52 weeks, trouncing the S&P 500 Index's ($SPX) 11.4% gains over the same period. Shares touched a new record high of $216.93 on Wednesday, June 25. However, Oracle's stock doesn't come cheap. It is priced at 39.2 times its forward earnings, which is significantly stretched compared to the industry average at the moment. On June 11, Oracle posted robust results for the fourth quarter of fiscal 2025 (quarter ended May 31, 2025). The company's total revenues increased by 11% year over year to $15.9 billion, surpassing the $15.6 billion consensus Wall Street estimate. Oracle's top-line growth is seen in its profitability expansion. Its non-GAAP EPS rose by 4% annually to $1.70, which was also higher than the estimates. At the heart of this growth were Oracle's cloud-related operations. Its cloud services and license support segment revenue grew by 14% annually to $11.7 billion, accounting for 74% of its total top line. Plus, its cloud license and on-premise license revenue increased by 9% to just over $2 billion. The growth in AI has also been noticeable in Oracle's operations. The company reported that AI innovators are picking the Oracle Cloud Infrastructure (OCI) AI infrastructure and OCI Supercluster to train AI models and deploy AI applications. With the company's AI infrastructure, AI innovators can use high-performance GPU clusters and scalable computing power, which makes OCI so popular. Oracle also partnered with Advanced Micro Devices (AMD) to integrate AMD Instinct MI355X GPUs into OCI. This partnership is said to offer more than twice the price performance of the previous generation, as the companies realize efficiency gains. While Oracle's results have been robust in themselves, what has gotten investors excited is the prospects the company is showing. The company aims to scale its data center operations aggressively. Oracle currently has 23 multicloud data centers and plans to build 47 more by the end of fiscal 2026. As a result of this, Oracle plans to take up significant cloud infrastructure. Oracle expects the total cloud-growth rate to increase from 24% in fiscal 2025 to more than 40% in this fiscal year. The company's Chairman, Larry Ellison, also made the bold claim that it would be the 'largest and most profitable cloud applications company in the world.' Plus, management expects its operations to stay steeped in demand. The company's cloud infrastructure growth rate is expected to increase to over 70% in 2026, while its remaining performance obligations (RPO) are projected to grow more than 100%. Analysts expect the tech stock's fiscal 2026 EPS to grow by 20.2% to $5.29, followed by an increase of 14% to $6.03 in fiscal 2027. After a full-day deep dive with Oracle's IR chief Ken Bond, Guggenheim's John DiFucci didn't just walk away impressed - he walked away convinced. He gave a 'Buy' rating and lifted his target price to $250 – the Street-high. He sees Oracle on the brink of a major narrative shift, powered by decades of innovation. With revenue poised to surge in fiscal 2026 and fiscal 2027, and fiscal 2029's $104 billion target likely understated, DiFucci cements Oracle as a 'Best Idea.' Overall, analysts have a positive outlook on ORCL, giving a consensus 'Moderate Buy' rating. Of the 35 analysts rating the stock, a majority of 21 analysts have rated it a 'Strong Buy,' one suggests a 'Moderate Buy,' and 13 analysts are playing it safe with a 'Hold' rating. Meanwhile, the consensus price target of $215.34 represents 3% potential upside. On the date of publication, Sristi Suman Jayaswal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. 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