BusinessEnergyManufacturing

Redwood Materials Secures $350M Funding to Expand Grid Battery Production Amid AI Power Demand

The Nevada-based battery recycler and materials supplier has raised fresh capital to accelerate its energy storage business as electricity demand from AI data centers surges. The funding round was led by Eclipse with participation from Nvidia’s investment arm.

Major Funding for Domestic Battery Production

Redwood Materials, a prominent battery recycler and materials supplier, has reportedly secured $350 million in new funding to expand its grid-scale energy storage operations, according to company statements. The funding comes as electricity demand, particularly from artificial intelligence data centers, continues to surge across the United States.

BusinessInnovationTechnology

Tesla’s Q3 Earnings Reveal Bold AI Vision Amid Financial Pressure and Pay Package Debate

Tesla reported mixed Q3 results with record revenue but missed profit expectations. CEO Elon Musk outlined ambitious autonomous driving and Optimus robot timelines while defending his proposed $1 trillion pay package against corporate critics.

Financial Performance and Market Reaction

Tesla’s third-quarter financial results presented a complex picture, with the company reportedly achieving record revenue while falling short on profitability metrics. According to the earnings report, Tesla’s revenue reached an all-time high, exceeding Wall Street forecasts after delivering a record number of vehicles during the quarter. However, sources indicate both profits and adjusted earnings per share missed analyst expectations, contributing to a significant stock decline. During Wednesday’s earnings call, Tesla shares reportedly fell approximately 4.5% in after-hours trading, adding to earlier losses.

AutomotiveBusinessStrategy

GM Scales Back Electric Vehicle Ambitions Amid Slowing Market Demand

General Motors is implementing significant cost-cutting measures across its electric vehicle division as market conditions deteriorate. The automaker will cease production of its BrightDrop electric delivery van while maintaining commitment to key consumer models like the Chevrolet Equinox EV.

Strategic Shift in Electric Vehicle Operations

General Motors is reportedly scaling back its electric vehicle ambitions amid slowing market demand and changing regulatory conditions, according to recent company statements. Despite delivering better-than-expected third-quarter results with a 6% year-over-year delivery increase, the automotive giant is making what executives describe as “a quick adjustment to the reality around us” by restructuring its EV operations.