Fidelity Marks Up X Holdings by 32.37%, Despite Valuation Still 72% Below Musk's Purchase Price
Fidelity increases valuation of Elon Musk's X by 32.37%, but still undervalues it by 72% compared to Musk's 2022 purchase price
Sophia Steele
Waymo, the autonomous vehicle subsidiary of Alphabet, has reached a deal with the San Francisco Airport Commission to map the airport's roadways using its vehicles. While the agreement currently only covers manual mapping, it could potentially pave the way for Waymo to expand its robotaxi service to the airport in the future.
According to the terms of the agreement, Waymo will be required to share data with the airport after each mapping session, including information on vehicle location, trip identifiers, and driver-based unique identifiers. Additionally, the agreement prohibits Waymo from using autonomous vehicles to move commercial goods, a provision that may have implications for groups like the Teamsters.
This development comes as Waymo continues to expand its presence in the autonomous vehicle market. The company has been actively testing its robotaxi service in several cities, including Phoenix and San Francisco, and has partnered with various organizations to further its goals.
In other mobility news, several startups have secured significant funding to advance their autonomous vehicle and electric vehicle technologies. Coreshell, a battery materials startup, raised $24 million in a Series A2 round, while Einride, a Swedish driverless truck startup, is reportedly in talks to file for an IPO that could value the company at over $5 billion.
Other notable announcements include Evera, a French EV subscription startup, raising 2 million euros in funding, and Leta, an African logistics software-as-a-service provider, securing $5 million in seed funding. Additionally, Pulsetrain, a battery tech startup, raised €6.1 million in a seed round, and Seadronix, a South Korea-based autonomous ship navigation company, raised $11.3 million in a Series B funding round.
In related news, Nvidia CEO Jensen Huang shared insights into the company's decision to focus on self-driving cars during his GTC keynote. The company also made several autonomous vehicle-related announcements during the conference, including deals with Gatik, GM, Torc, and others.
Zoox, an autonomous vehicle company, issued a voluntary recall for 258 vehicles due to issues with its autonomous driving system that could cause unexpected hard braking. Meanwhile, BYD announced new EV charging technology that could potentially revolutionize the industry, and Honda and Acura will gain access to the Tesla Supercharger network in June.
Tesla, which has been facing challenges with its Cybertruck, issued a recall for around 46,000 vehicles due to an exterior steel trim panel on the side of the windshield that can peel off. Analyst Dan Ives at Wedbush Securities has urged Elon Musk to reduce his role in the Department of Government Efficiency, citing a "crisis" at Tesla due to Musk's divided attention.
Finally, Joby Aviation has partnered with Virgin Atlantic to launch electric air taxis in the UK, marking the seventh country in which the startup hopes to commercialize its service. GM and Nvidia have also expanded their collaboration to build custom AI systems using Nvidia's products, with the goal of bringing AI to GM's physical world of factories, robots, and cars.
Fidelity increases valuation of Elon Musk's X by 32.37%, but still undervalues it by 72% compared to Musk's 2022 purchase price
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