Mentioned:
Elon Musk is excited about the future of autonomous vehicles and robotics. Which is exactly why he’s pouring a billion dollars into buying more Tesla stock.
What’s happening:
- Elon Musk has purchased 2.57M shares of Tesla (NASDAQ: TSLA) according to new filings made with the United States Securities and Exchange Commission
By the numbers:
- Elon Musk’s purchased roughly $1B USD of Tesla stock at an prices between $371.38 and $396.54 USD per share
- Elon Musk now owns approximately 13% of all the outstanding equity in Tesla following the purchase
Why it matters:
- This is the first large purchase of Tesla stock that Elon Musk has made in over half a decade
Going deeper:
- Tesla has been aggressively pursuing the opportunity in humanoid robotics lately, including recently cutting a $16.5B USD deal with Samsung in which Samsung will supply Tesla with new leading edge A16 chips to be used in both autonomous vehicles and their Optimus robot
