Tesla (TSLA) experienced a stock increase after CEO Elon Musk reaffirmed his commitment to the company at the Qatar Economic Forum on May 20, 2025. Musk stated his dedication to Tesla, X, and xAI.
The company plans to launch a robotaxi service in Austin, Texas, by the end of June 2025, starting with a small fleet of approximately 10-12 Model Y vehicles. Scaling will continue with plans to expand to 1,000 vehicles in the following months. Remote teleoperators will supervise the vehicles.
Musk also confirmed plans for "Colossus 2," an AI supercluster in Memphis powered by 168 Tesla Megapacks. This initiative aims to create a Gigawatt AI training supercluster. Tesla's China operations are showing signs of recovery, with insurance registrations rising in May 2025.