News
Nikola Motor unveils 1,000 HP hydrogen-electric truck with 1,200 mi. range
Nikola Motor Company unveiled its zero emissions Class 8 truck at company headquarters this week. Dubbed the Nikola One, the once all-electric prototype now hydrogen powered, boasts an incredible 1,200 miles of range and will be stiff competition for Tesla’s planned entry into the long haul trucking segment with its all-electric Tesla Semi.
Nikola One is sleek and futuristic. Because it has no diesel engine, the cab can be pushed forward as far as possible to give the driver a panoramic view of the road ahead. Individual electric motors for each of its six wheels provides an incredible 1,000 horsepower and 2,000 lb-ft of torque. Both numbers are considerably higher than for a typical tractor.
Power comes from a 320 kWh battery developed by the company. “Our battery engineers have made major advances in storage and cooling,” said Nikola founder and CEO Trevor Milton. “We believe our lithium battery packs are more energy dense and weigh less than any available vehicle production pack per kWh.”
The company had previously designed Nikola One as an electric truck that would have a range extender via a turbine powered by natural gas. But at the reveal, the company announced the turbine has been replaced by a hydrogen fuel cell that will keep the battery charged and provide a range between 800 to 1,200 miles.
The prototype on display this week is technological marvel. An array of sensors and cameras permit the driver to have a full 360º view around the entire rig at all times, eliminating blind spots all together. Inside the cab there is room for a one or two full size beds, a refrigerator/freezer, a 40″ curved 4K TV with Apple TV, as well as Wi-Fi and 4G LTE connectivity. Comfort and convenience for the driver will be unparalleled.
The company says it is evaluating a number of locations for its factory. “Nikola will build a world-class advanced manufacturing facility which will create thousands of new jobs,” says Trevor Milton. He claims the factory will be able to build 50,000 trucks a year by 2020.
So far, one might be forgiven for thinking the Nikola One is mostly vaporware except for one thing. The company has struck a deal with Ryder Systems, which has agreed to be Nikola’s exclusive nationwide distribution and maintenance provider. Ryder has a network of over 800 service locations in North America today.
-
“We are extremely excited to finally show off the Nikola One to the public for the first time,” said Milton. “There are many out there that wondered if we would deliver, but today we proudly show off the most advanced semi-truck ever built. We couldn’t be more thrilled to have one of the best brands in America, Ryder, as our trusted partner providing nationwide sales, service and warranty for Nikola Motor Company.”
The financial plan for the company calls for leasing the trucks for 72 months at rates of between $5,000 and $7,000 a month. The lease fee will cover all scheduled maintenance at a Ryder facility and the cost of hydrogen fuel. Talking a page from the Tesla playbook, Nikola is accepting reservations for its battery/fuel cell Class 8 truck. It says it has received billions of dollars worth of deposits which cost $1,500 and are fully refundable.
Meanwhile, Elon Musk has let it be known that he also has his eye on the heavy truck market. We can be sure his vision for a Tesla Semi won’t involve any onboard fossil fueled range extender engines or what he dismissively calls “fool cells.”
The Coast of Hydrogen
Nikola says it intends to develop a network of 350 hydrogen fueling stations across North America for its trucks, beginning in 2018. It would be similar to the Supercharger network Tesla has been building to support long distance travel for its fleet of electric cars. But here’s the rub.
Hydrogen refueling stations cost $2 million or more to construct. It is estimated that a typical Tesla Supercharger location costs about one tenth as much to build. Exactly who will be paying for the hydrogen refueling system is unclear. And there are other issues with using hydrogen. Yes, the waste products of a fuel cell are water vapor and heat. But getting the hydrogen requires tremendous amounts of energy.
In the US, most hydrogen is derived from natural gas. Take the process back a step or two and that natural gas is often the result of fracking, a process that at the very least is controversial and at worst results in heavy pollution of the land and groundwater in the vicinity. Whether the Nikola One can accurately be called “zero emissions” is a matter for debate.
-
-
Venture capitalist Chamath Palihapitiya has cautioned investors shorting SpaceX shares, drawing a direct parallel to the intense short-selling pressure Tesla faced in its early public years.
Responding to reports of elevated short interest in the newly public rocket, satellite, and AI company, Palihapitiya noted that similar dynamics played out with Tesla, where aggressive short sellers ultimately “went broke.”
SpaceX (NASDAQ: SPCX) went public on June 12, 2026, in the largest IPO on record, pricing at $135 per share. Shares quickly surged to an all-time high of $225.64 just days later, briefly implying a valuation exceeding $2 trillion. The stock has since retreated sharply amid valuation concerns, lockup expiration fears, and broader market dynamics.
By early August, it traded near $108–$125, representing a roughly 50 percent decline from the peak and bringing the market capitalization closer to the $1.5–1.7 trillion range. On August 4, shares closed up more than 9 percent at $125.33 ahead of earnings before facing pressure in after-hours and premarket trading.
Short interest has climbed dramatically. According to S3 Partners data widely cited in market reports, short positions reached approximately 219.3 million shares by late July, about 34 percent of the limited public float of roughly 640 million shares, and represented a notional value of around $24.6 billion.
Utilization of shares available to borrow hit 95 percent, with borrow fees rising. This level of shorting exceeded the dollar value of short bets against Tesla at the time and built rapidly ahead of two catalysts: the company’s first post-IPO earnings and an August 6 lockup expiration that could free up to 911.5 million additional shares.
-
CEO Elon Musk has issued warnings of his own. In mid-July, as short interest approached one-third of the float, he posted that “the survival probability of firms who maintain a significant short position in SpaceX over time is very low,” reiterating his view that the company could ultimately be worth more than Earth if it achieves its goals.
On August 4, just before earnings, Musk responded to the latest short-interest data by saying, “I try to warn them, but they just double down.”
SpaceX delivered its first quarterly results as a public company after the close on August 4. Second-quarter revenue rose 92 percent year-over-year to $7.8 billion, beating consensus estimates near $6.8–6.9 billion.
The net loss narrowed to $541 million, or 9 cents per share, better than the roughly 23–24 cent loss expected. Starlink/connectivity contributed about $4.3 billion (up 66 percent), while the AI business generated $2.6 billion (up roughly 250 percent). Capital expenditures were heavy at $18.4 billion, largely tied to AI infrastructure. Management projected a $100 billion annualized revenue run rate by year-end 2026 and outlined a path toward $1 trillion in annual revenue by 2030.
The combination of Chamath’s historical reminder, Musk’s repeated alerts, and the company’s ambitious growth targets underscores the high-stakes debate surrounding SPCX. Short sellers are positioned for near-term supply pressure from the lockup, while long-term bulls point to Starlink scale, Starship progress, and AI compute expansion as reasons the bears may ultimately face the same fate as many early Tesla skeptics.
Investor's Corner
SpaceX and Nvidia team up on Musk’s orbital AI bet
SpaceX revealed a new Nvidia satellite partnership, then Musk pledged an exclusive Nvidia hardware commitment.
SpaceX and Nvidia are now working together on the hardware that will power Musk’s orbital data center ambitions. SpaceX announced on X on Tuesday that it is partnering with Nvidia to design the compute payload for Starmind AI1, the first satellite in a planned constellation built to run AI workloads directly in orbit. Each Starmind satellite will carry Nvidia’s Rubin GPUs and Vera CPUs, according to the post, which included renderings of the payload design.
The announcement landed hours before SpaceX’s first earnings call as a public company, where Musk went further, saying the company has committed to building its AI infrastructure exclusively on Nvidia hardware. “We think the Vera Rubin architecture is the best architecture. We think it’s the best AI computer, and we greatly value our close cooperation and partnership on many levels with Nvidia,” Musk told investors on the call,. “So we’re exclusive to Nvidia.”
Musk said SpaceX plans to deploy Nvidia’s Vera Rubin NVL72 rackscale system, codenamed Kyber, both on the ground and in space. He set a target of 2 gigawatts of compute capacity online by the end of this year, scaling to roughly 10 gigawatts by the end of 2027.
SpaceX’s newest Starmind will make earth data centers obsolete
Starmind has been in development since Musk confirmed the name in June, following an xAI trademark filing that tipped off the project before SpaceX made it official. The idea is massive in scope and instead of moving data down to ground based servers, satellites equipped with onboard processors and large solar arrays would compute AI workloads in orbit and beam results back to Earth. SpaceX has already filed with the FCC for a constellation of up to one million satellites to support the effort, citing constant solar power and the absence of zoning restrictions as advantages over terrestrial data centers.
The Nvidia exclusivity marks a shift in tone from just two weeks ago, when Musk was busy knocking down a report that SpaceX had ordered $52 billion worth of Nvidia GPUs through Foxconn, calling it fake news at the time. The dollar figure in that rumor may have been wrong, but the underlying direction seems correct. SpaceX’s AI division already leases Colossus compute capacity to Anthropic and Google, and Tuesday’s earnings report showed AI revenue climbing sharply as those deals ramp up.
Nvidia shares rose roughly 3% in Tuesday trading on the news, while SpaceX stock climbed nearly 9% during the day before giving back gains after hours as investors digested the earnings report’s capital spending figures.
-
SpaceX (NASDAQ: SPCX) reported a beat in revenues and EBITDA in its first earnings call report while also minimizing losses as its business continues to gain momentum.
After its IPO in July, SpaceX saw some tough losses on Wall Street due to a major selloff after a delay in its 13th Starship test flight. The ship launched later that week and completed what was arguably the most successful IFT operation in the Starship program’s history.
Nevertheless, the company is continuing on and reported some encouraging financials while also promoting what appears to be a robust outlook moving forward in its Space, AI, and Connectivity divisions.
SpaceX to report first-ever earnings today: here’s what to expect
Earnings Results
- Revenues: $7.8 billion reported vs. $6.7 billion expected
- Adjusted EBITDA: $3.5 billion vs. $2 billion expected
- Net loss of $541 million, an improvement of $467 million from net loss of $1.0 billion
Additionally, CFO Bret Johnsen had these comments:
“2026 has been a momentous year so far, and the second quarter demonstrated the true power of SpaceX. Revenue growth accelerated across all our business segments and we delivered strong operating leverage, with significant margin expansion led by our new AI compute agreements. Our unparalleled leadership in launch, Starlink subscriber growth, new enterprise and government partnerships, and best-in-class AI infrastructure underscore our ability to drive meaningful scale and deliver attractive returns. As a newly public company, we are delighted to welcome our broad base of shareholders and bondholders. We ended the second quarter with $100 billion of cash, cash equivalents, and marketable securities, and $47.5 billion in backlog. This financial strength gives us substantial capacity to invest in Starship, Starlink Broadband and Mobile satellites, and our AI platform, while maintaining a disciplined long-term capital allocation framework.”
Space Business Highlights
SpaceX shared some of its biggest Space Business Highlights for Q2:
- Space revenues grew 55% sequentially and 29% year-over-year to $962 million, driven by a higher number of large customer launches and a favorable customer shift compared to the prior year
- Total costs and expenses for the Space segment were up by $389 million year-over-year, as we continued to accelerate R&D investments in our Starship program, which we believe will reduce the cost to orbit by 99% or more relative to the historical average, and unlock significant revenue potential across all business segments
- Leading launch provider for the world with 78 launches and 1,041 metric tons of mass to orbit deployed over the six months ended June 30, 2026, primarily allocated to Connectivity for the deployment of our Starlink constellation
- Starship V3 development continued to advance towards full and rapid reusability:
- Completed Starship V3’s first suborbital mission in May, Flight 12, which achieved a successful lift off from our new Starbase pad, a precision landing of Starship’s upper stage, and deployment of modified V2 Starlink satellites
- Subsequent to the second quarter, completed Starship Flight 13 in July, which achieved all flight objectives including deploying 20 production V3 satellites, demonstrating in-space relight of a Raptor engine, and executing the softest ever splashdown of Starship, providing critical views of an intact heatshield
SpaceX will report its earnings today at 4:30 P.M. EDT.
-
SpaceX shorts get warned by Musk ally, echoing Tesla’s early struggles
SpaceX and Nvidia team up on Musk’s orbital AI bet
