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Crypto

Tesla posts $112 million fair-value loss on bitcoin in second quarter

Tesla recorded a $112 million pretax fair-value loss in the second quarter due to falling cryptocurrency prices, cutting net income even without selling assets. Net income attributable to common shareholders fell $87 million after tax and earnings per share dropped $0.02. Digital assets had a carrying value of $674 million at June 30. Under FASB rules, digital assets are revalued each quarter, with changes hitting net income immediately.

AI & Enterprise

Snowflake soars 40 percent to recover year-to-date losses; AI chip supercycle expectations

Snowflake shares surged about 40 percent on May 28, recovering their cumulative decline since the start of the year in a single session. The AI data cloud company posted results that beat market expectations and said it signed a $6 billion long-term contract with Amazon Web Services. Revenue rose 33 percent to $1.39 billion, while adjusted earnings per share topped forecasts. Snowflake raised its fiscal 2027 annual product revenue guidance to $5.84 billion.

Mobility

Tesla no longer just an EV maker as AI and energy support long-term investment case

Market views on Tesla\'s long-term investment appeal are diverging again. Analysts say slowing growth in vehicle sales contrasts with expectations for expansion in self-driving, AI and energy that continue to support a high valuation. Tesla trades at a lofty price-to-earnings multiple, while quarterly results show revenue and profit growth and record energy storage deployments. Wall Street ratings lean toward hold, with wide-ranging target prices reflecting uncertainty over execution.