Many things. If you still have cash, $SPCX is probably a better investment than $TSLA right now. Pro $SPCX arguments: - Tesla is executing Robotaxi, but even with 100,000 of them next year, SpaceX's revenue will dwarf it. - The terrestrial AI revenue from SpaceX is nevertheless known to be limited in growth. Electricity supply is limited, and political resistance is strong. Also, SpaceX compute's customers are themselves not turning a profit; Anthropic and Reflection AI are making a loss. The market knows that there is some unsustainability here. It is therefore an open question whether the market will assign a high P/E to this revenue. - However, the revenue will be so high that a $4T cap and a 2x on $SPCX within 12 months is highly probable, even with a low P/E. $SPCX going over $4T cap just with terrestrial compute, superpassing $NVDA is, I think, highly unlikely. - We have no visibility on Optimus. Personally, I am not convinced that the AI will be able to generalize to all kinds of untrained tasks. I have seen no evidence pointing to this. - If $SPCX goes to a $4T cap and $TSLA is still at $2T next year when the merger happens, we have to be realistic: it will not be a merger of equals. Simply put, Robotaxi is in the bag; this thesis is intact, but isn't there a better opportunity than this right now? Pro staying in $TSLA arguments: - If the market starts to believe that Cybercab will scale everywhere without limit (which will happen if they start dumping thousands of them every week), $TSLA can also easily get a 2x next year; $700+ is easily reachable. We were at $500 10 months ago with 0 Cybercab. 50,000 Cybercabs would bump the EPS by 50%; the stock would definitely go to $700+. - That would be a $3T market cap. Add the premium to acquire $TSLA, and you get a merger of equals even with $SPCX at $4T. - If you already own $TSLA and need to pay capital gains taxes to buy $SPCX, in this scenario, you are better off staying in $TSLA, as you are just taking on risk and giving free money to Zelensky when you switch. - The merger could happen before $SPCX goes to $4T, and you get a merger of equals anyway. - And if Optimus does work? That's also game over. - The true potential of $SPCX is with orbital AI, but this comes first in 2028 after Starship becomes immediately reusable at scale. Some satellites will be launched before that, but the true scaling requires Starship to be immediately reusable at scale. So fundamentally, the problem in my case is the capital gains tax. I would need to pay hundreds of thousands of euros to Zelensky to switch to $SPCX. And I am not in the mood. I also believe that Robotaxi is scaling, and even if the revenue will be small compared to $SPCX, let's not forget it will be the first truly autonomous Robot entering our lives. The first true physical AI. A significant event in human history. This is real, sustainable, and tangible added value to our lives, not revenue from loss-making companies like Anthropic and Reflection AI. Cybercab will impact everybody's life: yours, your parents', your grandparents', your children. Claude and Fable are great, but grandma does not care. Cybercab will take grandma to church. Conclusion: If you have large unrealized capital gains, closely monitor the Robotaxi scaling. If Robotaxi stops scaling, you may want to switch to $SPCX, at least partially. If Robotaxi scales, you are probably better off staying in $TSLA. If you have cash, put it in $SPCX.

According to Korean media, Elon Musk's Terafab is now talking to almost EVERY Korean chip supplier it can find. Until now, the only known Korean suppliers were HPSP and Hanmi Semiconductor. Now TheElec reports that Tesla and SpaceX are in talks across nearly every category Korean companies can supply, from basic piping parts to process materials to test components. At SEMICON West in San Francisco last week, Terafab staff walked straight to around 10 Korean booths on the morning of day one, including ENF Technology, Dongjin Semichem, Hanmi Semiconductor, Unisem and MiCo. Several companies have already signed NDAs. One got an NDA by email the same evening Terafab visited its booth. Hanmi Semiconductor is discussing TC bonders for Terafab, and HPSP has agreed to supply one high pressure hydrogen annealing tool to the R&D line. MiCo's cleaning unit Komico signed a three way NDA with Tesla and SpaceX about a month ago, and ISC is already swapping samples for rubber test sockets. Tesla and SpaceX do not buy from Chinese suppliers. One Korean supplier put it simply, without China there are only a few options, and Japan is expensive. They also want prices that are CHEAPER than China. $LRCX and $AMAT have reportedly built dedicated Terafab teams, and Fujifilm is meeting Terafab buyers regularly on slurries, photoresist and etchants. The goal is a fab with 1 million wafer starts per month within 10 years, with $16.8 billion of initial investment and more than 3,000 jobs. SpaceX broke ground in Grimes County, Texas this month, and the first 100,000 wafer per month phase is expected before 2030. Logic is being done with $INTC, talks with $TSM are ongoing, and memory will be built separately. One supplier said that if they email Terafab in the middle of the night in the United States, they get an answer in 30 minutes to an hour. $TSLA and $SPCX are building a chip supply chain at Elon speed.

French police warned protesters: "If you approach the Louvre Museum in Paris, we will open fire!"

Updated 0-60mph times across the Tesla lineup:

Terafab - Now Capital needs - Now Collaboration - Now Synergies - Now Running one public company is complicated enough

JUST IN: Chinese robotics company unveils a massive 13-foot-tall, 2,400-pound humanoid robot capable of lifting more than 1,100 pounds.

Holy smokes