News
Tesla invites Europeans to take ‘Drive To Believe’ challenge: one week with Model S
A new program being offered by Tesla invites residents in select European markets to participate in the company’s latest ‘Drive To Believe’ challenge and win a chance to experience Model S through an extended one week test drive.
Residents of the UK, Germany, Netherlands, Norway, Sweden, Switzerland, France, Austria, Belgium, Finland, Luxembourg, Italy, Denmark, and Ireland that win the challenge will have the opportunity to swap their existing vehicles for a Tesla Model S on specific dates between November 16 and December 31, 2016.
“At Tesla, we believe that it takes driving a Tesla and experiencing its superior performance, safety, and technology, to be convinced. We now want to give you that opportunity as well.”, reads the description on Tesla’s ‘Drive to Believe’ online form.
It’s no secret that Tesla is making a significant investment in expanding its European footprint. CEO Elon Musk recently told investors that the company has plans to expand its battery production into Europe with a second Gigafactory. The company also recently announced that it had acquired top-notch German engineering firm Grohmann Engineering to form a new division aimed at building automated assembly systems, a step towards Musk’s goal of “building the machine that builds the machine”. Continued efforts on scaling Tesla’s European infrastructure while streamlining manufacturing processes and logistics allows the company to position itself ahead of demand.
Meanwhile, programs such as the latest ‘Drive To Believe’ challenge allows the company’s sales arm to focus on driving demand overseas. Secondarily, by having prize winners sign off on terms that would allow Tesla to film their experience with a Model S, the company is able to leverage its Customer Stories program as a tool to build trust among interested buyers and further stimulate sales efforts.
We’ve included the full details of Tesla’s ‘Drive to Believe’ European competition.
TESLA ‘DRIVE TO BELIEVE’ EUROPEAN COMPETITION 2016
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1. The promoter
1.1 The promoter is: Tesla Motors Netherlands B.V., Burgemeester Stramanweg 122 (1101 EN), Amsterdam Netherlands (Tesla).
2. The competition
2.1 The title of the competition is TESLA ‘DRIVE TO BELIEVE’.
2.2 Entrants must answer a skill-based question within the space provided in the competition field online at www.tesla.com/drive-to-believe
2.3 The competition will run in one phase. For you to be eligible for the competition, your entry must be submitted between 00:01 on 16th November to 23:59 on 31 December 2016
2.4 You may enter the competition only once.
2.5 All competition entries received after 23:59 on 31 December 2016 will be automatically disqualified from the competition.
2.6 To enter the competition you must fill in all required fields on www.tesla.com/drive-to-believe
2.7 Participation in the competition can only take place at www.tesla.com/drive-to-believe. No applications to enter made in any other manner will be accepted.
2.8 No purchase necessary.
2.9 Tesla will not accept:
(a) responsibility for competition entries that are lost, mislaid, damaged or delayed in transit, regardless of cause, including, for example, as a result of any equipment failure, technical malfunction, systems, satellite, network, server, computer hardware or software failure of any kind; or
(b) proof of transmission as proof of receipt of entry to the competition.
2.10 By submitting a competition entry, you are agreeing to be bound by these terms and conditions.
2.11 The competition entry selection will be based on the entrant’s specific eligibility for the competition. The decision of Tesla (acting reasonably) will be final. Tesla reserves the right to amend the criteria used to judge entries.
2.12 By entering the competition, you hereby warrant that all information submitted by you in your entry is true, accurate and complete in every respect. Tesla reserves the right to verify any information contained in your entry and/or your eligibility to enter the competition.
2.13 Tesla reserve the right in its absolute discretion to disqualify any entrant if it has reasonable grounds to believe that an entrant has breached any of these terms and conditions or any applicable law. Each entrant acknowledges and agrees that any failure to comply with these terms and conditions could lead to Tesla disqualifying that person, without Tesla giving any reason for such disqualification or granting any opportunity for challenge.
2.14 In the event that a prize-winner is disqualified from the competition, Tesla will select an alternative prize-winner in the same manner as the original prize-winner and such selection will be subject to these terms and conditions.
3. Eligibility
3.1 The competition is only open to all residents in the following European markets: UK, Germany, Netherlands, Norway, Sweden, Switzerland, France, Austria, Belgium, Finland, Luxembourg, Italy, Denmark, Ireland
3.2 Entrants must be 25 years of age or above and own a car and hold a valid driver’s license for the market they reside in and enter the competition from.
3.3 Entrants must be able to provide proof of identity.
3.4 Entrants must be willing to be filmed and for all footage and image and voice recordings of their person to be used for Tesla promotional purposes, in all media, globally, in perpetuity for no additional fee or financial remuneration of any kind.
3.5 Any person that is any of the following is not eligible to win the competition:
(a) an employee of Tesla or its holding or subsidiary companies;
(b) an employee of agents or suppliers of Tesla or its holding or subsidiary companies, who are professionally connected with the competition or its administration; or
(c) a member of the immediate families or households of (a) and (b) above.
Tesla reserves the right to disqualify any person that it knows is, or has reasonable grounds to believe is, ineligible for the competition as a result of this condition.
3.6 In entering the competition, you confirm that you are eligible to do so and eligible to claim the prize. Tesla may require you to provide proof that you are eligible to enter the competition.
3.7 Tesla will not accept competition entries that are:
(a) automatically generated by computer;
(b) completed by third parties;
(c) illegible, have been altered, reconstructed, forged or tampered with;
(d) incomplete.
3.8 There is a limit of one entry per person for the duration of the competition. In the event that Tesla discovers or has reasonable grounds to believe that the same person has made multiple entries, such person and any entries made by them shall be disqualified and, if such entrant has already been selected as a prize-winner, an alternative prize-winner will be selected in accordance with condition 2.14
3.9 Tesla reserves all rights to disqualify you if your conduct is contrary to the spirit or intention of the competition or if you engage in political slogans or homophobic language, behaviour of a lewd or explicitly sexual nature or engage in content which is defamatory, obscene, illegal, vulgar, offensive or otherwise unsuitable or infringes others’ rights (including intellectual property rights).
4 The prize
4.1 The prize is as following:
(a) Competition winners must swap their current car for a Tesla Model S for the duration of one week to take place on specific dates Tesla will select between 00:01 on 16th November to 23:59 on 31 December 2016.
4.2 The prize is supplied by Tesla.
4.3 There is no cash alternative for the prize. The prize is not negotiable or transferable.
4.4 In order to claim the prize you must comply with condition 6.
5. Winner announcement
5.1 The winners of the competition will be announced across all media to be selected by Tesla on a date or dates to be selected by Tesla.
5.2 The decision of Tesla is final and no correspondence or discussion will be entered into.
5.3 Tesla will contact the winner personally as soon as Tesla has selected a shortlist of winners.
6. Claiming the prize
6.1 If you are the winner of the prize, you will have 2 days from the Announcement Date to claim the prize. If you do not claim the prize within this timeframe, your claim will become invalid.
6.2 The prize may not be claimed by a third party on your behalf.
6.3 Tesla will make all reasonable efforts to contact the winner. If the winner cannot be contacted or is not available, or has not claimed their prize within 2 days of contact, Tesla reserves the right to offer the prize to the next eligible entrant selected from the correct entries that were received.
6.4 Tesla does not accept any responsibility if you are not able to take up the prize.
6.5 No prize will be awarded where any entrant has committed any form of misconduct (as determined by Tesla in its sole discretion).
7. Limitation of liability
Insofar as is permitted by law, Tesla, its agents or distributors will not in any circumstances be responsible or liable to compensate the winner or accept any liability for any loss, damage, disappointment, personal injury or death occurring as a result of any entrant entering this competition, taking up the prize, or as a result of any entrant winning or not winning any prize, except where it is caused by the negligence of Tesla, its agents or distributors or that of their employees. Your statutory rights are not affected.
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8. Ownership and intellectual property rights
8.1 You agree that Tesla (and any third party authorised by Tesla) may use your person, voice and image for any promotional purpose (for example, placing it on the Tesla webpage and social channels for advertising media. You give Tesla (and any third party authorised by Tesla) your irrevocable permission to use, reproduce, publish, display, transmit, copy, amend, store, sell and sub-license your person, voice and image worldwide and in perpetuity for promotional purposes and for the purposes of the competition. Tesla will own the right to your image and voice recordings captured during the duration of the competition.
8.2 By submitting your competition entry, you agree to:
(a) assign to Tesla all your voice and image rights with full title guarantee; and
(b) waive all moral rights,
8.3 You agree that Tesla may, but is not required to, make your personal image and voice recordings available on our social media channels and websites and any other media, whether now known or invented in the future, and in connection with any publicity of the competition. You agree to grant Tesla a non-exclusive, worldwide, irrevocable license, for the full period of any intellectual property rights in your image and voice recordings, to use, display, publish, transmit, copy, edit, alter, store, re-format for such purposes.
9. Data protection and publicity
9.1 If you are the winner of the competition you agree that Tesla may use your name, image, and town or country of residence to announce the winner of this competition and for any other reasonable and related promotional purposes.
9.2 You further agree to participate in any reasonable publicity required by Tesla.
9.3 By entering the competition, you agree that any personal information provided by you with the competition entry may be held and used only by Tesla or their agents and suppliers to administer the competition.
10. General
10.1 If there is any reason to believe that there has been a breach of these terms and conditions, Tesla may, at its sole discretion, reserve the right to exclude you from participating in the competition.
10.2 In the event of any dispute regarding these terms and conditions, the conduct or results of the competition, or any other matter relating to a competition, the decision of Tesla shall be final and unchallengeable and no correspondence or discussion shall be entered into, comment issued, or reason given in respect of any decision made by Tesla.
10.3 Tesla reserves the right to hold void, suspend, cancel, or amend all or any part of the competition where it becomes necessary to do so. Any changes to these terms and conditions, or cancellation of the competition, will be posted on the Tesla website. It is the responsibility of entrants to keep themselves informed as to any changes to the terms and conditions.
10.4 These terms and conditions and any dispute arising out of or in connection with them or their subject matter (including any non-contractual disputes or claims) shall be governed by the laws of the Netherlands and the parties submit to the exclusive jurisdiction of the courts of The Netherlands.
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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.
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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.
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Elon Musk issued a second pointed warning to SpaceX short sellers on Tuesday, just hours before the company was set to release its first quarterly earnings as a publicly traded firm. Responding to a report highlighting elevated short interest, Musk wrote on X: “I try to warn them, but they just double down …”
The comment came as data from S3 Partners showed roughly 95 percent of available SPCX shares to borrow were on loan, translating to about 34 percent short interest as a percentage of the float. The stock has traded under pressure since its record-breaking IPO in June 2026, declining significantly from early peaks.
I try to warn them, but they just double down … 🤷♂️
— Elon Musk (@elonmusk) August 4, 2026
This marks the second such message from Musk in under three weeks.
On July 17, amid post-IPO volatility, he stated: “The survival probability of firms who maintain a significant short position in SpaceX over time is very low.” At that time, SPCX had fallen roughly 30 percent from its peak above a $2.6 trillion valuation, with short sellers reportedly realizing gains of about $8.7 billion.
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Musk’s warning aligned with optimistic analyses projecting that Starship-driven cost reductions could enable a multi-trillion-dollar space economy through applications such as orbital solar power, asteroid mining, data centers, and Mars-related projects, positioning SpaceX as critical infrastructure.
SpaceX is scheduled to report second-quarter results after the market close later today, followed by a webcast. Analysts anticipate revenue near $6.9 billion, reflecting growth in Starlink, launch services, and AI-related segments. The earnings release precedes a major lockup expiration on August 6 that could free hundreds of millions of insider shares.
Musk has a long track record of confronting short sellers, particularly regarding Tesla, where he has argued that persistent bearish positions underestimate transformative technologies. Critics view his optimism as overly ambitious given near-term stock fluctuations, while supporters see temporary dips as opportunities in a longer-term expansion of the space economy.
As SpaceX opens its books to public scrutiny for the first time, the high short interest and Musk’s repeated cautions set the stage for heightened market attention on the results and management’s commentary.
SpaceX and Nvidia team up on Musk’s orbital AI bet
SpaceX reports beat in first earnings while minimizing losses
