

News
Former Nikola CEO Trevor Milton defends his Board nominees
Former Nikola CEO Trevor Milton is fighting back against the Board of Directors’ decision to reject his five director nominees. The Nikola Board announced its rejection of Milton’s director nominees earlier this month.
Milton had nominated Cole Cannon, Derek Johnson, Hans Peterson, Paul Southam, and Dave Sparks, who runs the HeavyD YouTube channel, for Nikola’s Board of Directors. The current Nikola Board cited several reasons behind its rejection of Milton’s nominees, from their alleged lack of experience in a public company to a lack of skills.
“The director nominees have no public company experience, add no skills or experience to the board, and indisputably lack the depth of experience that the current Nikola board members bring to the Company. Additionally, it is the Company’s belief that the director nominees lack the expertise or knowledge needed to navigate the complexities of a zero-emissions trucking and energy infrastructure business,” Nikola’s current Board wrote in a press release.
In a press release, M&M Residual, LLC, an entity connected to Milton, together with its affiliates, argued that the former CEO’s director nominees should be considered. As per the shareholder group, which owns about 4.5% of Nikola stock, Milton’s selections should help the company fix its issues and put it back on a path to value creation. The group argued that Nikola’s leadership today has shown subpar performance, with the company’s stock nearly getting wiped out.
“Since taking over as Chair in 2020, CEO Steve Girsky and his Board have overseen a staggering and consistent decline in Nikola’s stock from $30+ per share to a delisting Nasdaq price of less than seventy cents per share… For approximately four years now, the Board has overseen operational underperformance, value destructive acquisitions, the breakdown of the Iveco Group-Nikola partnership, the loss of meaningful European market share and the sale of key assets while taking on debt. These actions (among other concerning missteps surrounding safety and disclosures) have resulted in the destruction of nearly 100% of stockholder value.
“Concerningly, the Board also diluted Nikola shares to the tune of an additional 800 million last year, so that over 1.6 billion total shares are now authorized with over 1 billion shares in circulation. After destroying significant value and diluting stockholders as Chair, Steve Girsky then took the helm as CEO in August 2023. Under Mr. Girsky’s leadership, stockholders suffered an approximate 72% decline in value. No matter how you look at it, over all relevant time periods this management team and Board have obliterated stockholder value and put our Company at risk,” the stockholder group noted.
The group claimed that it had been approached by numerous stockholders who wish to see the current leadership of Nikola replaced. M&M Residual, LLC and its affiliates’ press release also noted that Milton’s five picks for Nikola’s director post have already started working on an operational strategy that would improve the company.
“Our Group has been approached by numerous stockholders who want to see CEO Steve Girsky and his Board replaced with high-integrity individuals. This is a reasonable request, especially considering Nikola recently disclosed that substantial doubt exists regarding its ability to continue as a going concern through the next 12 months… In stark contrast to the current Board, our independent slate includes proven founders and executives who collectively possess the operational, supply chain, and electric vehicle experience that we believe will be required to initiate a value-enhancing turnaround at Nikola. Our five-member slate has already begun working on an operating strategy that considers the interests of stockholders, employees, partners, and customers,” the shareholder group noted.
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Elon Musk
Tesla Robotaxis are becoming a common sight on Austin’s public roads
Tesla Robotaxi sightings are becoming much more frequent ahead of its launch planned for this month.

Tesla Robotaxis are becoming a common sight on the public roads of Austin, Texas, as yet another test mule has been spotted near the company’s target launch date.
Just over a week ago, the first public sighting of a driverless Tesla Robotaxi was reported. The vehicle was an updated version of the Tesla Model Y, which will be the initial model used in the public deployment of the Robotaxi platform.
Throughout the past week, sightings have been more common, as people in Austin have been looking for the unique decal Tesla is placing on car doors to recognize the driverless vehicles (After all, Robotaxis are not as easy to recognize as driverless vehicles without the LIDAR unit on the roof like Waymo).
Yet another sighting of a Robotaxi was shared on social media today, just two days before CEO Elon Musk’s proposed launch date of June 22:
🚨 Tesla Robotaxis are being spotted all over Austin!
Here’s another spotted within the last hour: https://t.co/79l1RHpL5d pic.twitter.com/bOIlZYgs0U
— TESLARATI (@Teslarati) June 18, 2025
It is easy to tell that there is nobody in the driver’s seat of this vehicle. Tesla is using its white interior on this particular mule, making it incredibly simple to recognize that no human is controlling the car.
Whether Tesla will still meet the June 22nd deadline remains to be seen, but it is no secret that the company is prioritizing safety ahead of offering public rides.
Tesla will initially roll out the Robotaxi platform in Austin, but it has already started the regulatory process in other areas, specifically California.
The National Highway Traffic Safety Administration (NHTSA) is also helping to streamline the process for companies developing driverless vehicles by giving exemptions to automakers. It will make things much more efficient, benefiting Tesla and other car companies that have similar plans.
Tesla Robotaxi just got a big benefit from the U.S. government
Elon Musk
Elon Musk teases Tesla Optimus Gen 3 capabilities: ‘So many improvements’
If you thought Optimus Gen 2 was impressive, Tesla might have a surprise for you.

Elon Musk has teased that huge improvements are coming to Tesla’s Optimus humanoid robot, which is arguably the product that the company is developing with the most potential for everyday use by consumers and valuation increases from a financial perspective.
Optimus is still in the development stages, but Tesla has made great strides in its development over the past several years. It started as a simple idea that was unveiled with a human being in a spandex suit.
Tesla posts Optimus’ most impressive video demonstration yet
Just a few years later, Tesla has developed several humanoid robot prototypes that have made their way to influencers and have lent a helping hand around the company’s manufacturing facilities.
Tesla has already introduced two generations of Optimus, as the most recent release featured a vast number of improvements from the initial version.
The following is a list of things Tesla improved upon with Optimus Gen 2 compared to Gen 1:
- Tesla introduced a weight reduction of roughly 22 pounds, improving efficiency and agility
- Optimus Gen 2 had a walking speed that improved by 30 percent over Gen 1
- Tesla developed more capable hands that had 22 degrees of freedom, double that of Gen 1. This improved object handling
- Optimus Gen 2 had a 2-degree-of-freedom neck, as Gen 1’s was fixed
- Tesla integrated actuators and sensors for better performance. This includes things like foot force/torque sensing, articulated toe sections that are close to human foot geometry for better balance and movement
- Optimus Gen 2 has 28 degrees of overall freedom, improving flexibility from the first generation
- Tesla’s Optimus Gen 2 can do more than Gen 1, and has shown improved motor control and precision, doing things like squats, yoga poses, dancing, and even poaching an egg
These changes essentially brought Tesla closer to what will be the Optimus version that makes it to production. The company has plans to start production for the public in 2026, but some units will be manufactured for internal use within its factories as soon as this year. Tesla has said it could scale to 100,000 units or more by next year.
Musk also revealed to Teslarati recently that the company is in the process of building the production line that will bring manufacturing rates of Optimus to that level.
However, there is another design of Optimus coming, and Musk says it will feature “so many improvements”:
So many improvements to come in the next design of Optimus
— Elon Musk (@elonmusk) June 18, 2025
Tesla has said that Optimus will have the capability to perform tedious and time-consuming tasks like folding laundry, babysitting, cooking, walking the dog, and plenty of other things. However, it will be super impressive to see it do things that require true coordination, like threading a needle, for example.
Musk did not hint toward any specific developments that Tesla will aim for with Optimus Gen 3, but the sky is the limit, especially as it will be performing some manufacturing tasks across its factories.
Elon Musk
Elon Musk slams Bloomberg’s shocking xAI cash burn claims
Musk stated that “Bloomberg is talking nonsense.”

Elon Musk has forcefully rejected Bloomberg News’ claims that his artificial intelligence startup, xAI, is hemorrhaging $1 billion monthly.
In a post on X, Musk stated that “Bloomberg is talking nonsense.” He also acknowledged an X user’s comment that people “really have no idea what’s at stake” with AI.
Bloomberg‘s Allegations and Musk’s Rebuttal
The Bloomberg News report painted a dire picture of xAI’s finances. Citing people reportedly familiar with the matter, the news outlet claimed that xAI burns $1 billion a month as costs for building advanced AI models outpaced the company’s limited revenues.
Bloomberg alleged that xAI is planning to spend over half of a proposed $9.3 billion fundraising haul in three months, with a projected $13 billion loss in 2025. The report also claimed that of the $14 billion that xAI has raised since 2023, only $4 billion remained by Q1 2025. Even this amount, the news outlet alleged, will be nearly depleted in Q2.
xAI did not comment on Bloomberg‘s claims, though Elon Musk shared his thoughts on the matter on social media platform X. In response to an X user who quoted the publication’s article, Musk noted that “Bloomberg is talking nonsense.” Musk, however, did not provide further details as to why the publication’s report was fallacious.
xAI’s Bright Horizon
Despite Bloomberg‘s claims, even the publication noted that xAI’s prospects are promising. The company, now merged with X, aims to leverage the platform’s vast data archives for model training, which could reduce costs compared to rivals like OpenAI. Tapping into X also allows xAI to access real-time information from users across the globe.
xAI’s valuation reportedly soared to $80 billion by Q1 2025, up from $51 billion in 2024. The AI startup has attracted heavyweight investors such as Andreessen Horowitz, Sequoia Capital, and VY Capital so far, and optimistic projections point to profitability possibly being attained by 2027. This would be quite a feat for xAI as OpenAI, the AI startup’s biggest rival, is still looking at 2029 as the year it could become cash flow positive.
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