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Mobility

Tesla finalises $2 billion AI hardware acquisition, keeps target undisclosed

Tesla has completed a previously undisclosed acquisition of an AI hardware company for $1.95 billion, largely paid in common stock and stock-based compensation. Only $222 million was recognised as acquired intangible assets, while $1.73 billion was set as contingent consideration linked to employee retention and performance milestones. Tesla did not disclose the target’s name or details. It said it would recognise costs for the contingent amount only if achievement becomes probable.

Industry

Battery data becomes shield as recourse claims open in EV fire compensation

South Korea began an \"EV Fire Peace-of-Mind Insurance\" scheme in July that compensates damage before the cause is determined. Policy terms allow insurers to seek recourse from vehicle owners or drivers, manufacturers including parts makers, importers, charging-facility owners or managers, or other liable third parties once fault is confirmed. Battery makers are excluded from insured parties and premiums, but can face claims if defects are found or if losses exceed coverage limits.

Crypto

Former Ripple CTO says only this would make him consider unretiring

David Schwartz, a former Ripple chief technology officer and a core developer of the XRP Ledger, named Nick Bougalis as the only reason he would consider reversing his retirement. Schwartz said his condition for returning depends on a specific person, not money or the scale of work. He retired on Jan. 1, 2026 and now serves as Ripple’s honorary CTO, providing selective advice while remaining involved in releases such as the XRPL 3.2.0 update.