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Tesla’s Elon Musk will be hosting an AI hackathon party at his house
Elon Musk announced that Tesla will be hosting an AI hackathon, together with the company’s artificial intelligence and autopilot team, at his house in four weeks’ time.
The Tesla chief announced his plans via Twitter on Sunday. Despite impressive numbers revealed during the Q4 2019 earnings call and update, Musk and his Tesla team are not resting on their laurels and remain focused on pursuing advancements to its neural network, which is in the center of Tesla’s goal of achieving a full self-driving vehicle.
During the recent Q4 earnings call, an investor asked the Tesla chief executive for updates on FSD.
“I think that’s looking like maybe it’s going to be couple of months from now. And what isn’t obvious regarding Autopilot and Full Self-Driving is just how much work has been going into improving the foundational elements of autonomy,” Musk said.
Tesla will hold a super fun AI party/hackathon at my house with the Tesla AI/autopilot team in about four weeks. Invitations going out soon.
— Elon Musk (@elonmusk) February 2, 2020
Musk continued to explain how the Tesla team is making great strides in labeling efficiency.
“…in terms of labeling, labeling with video in all eight cameras simultaneously. This is a really, I mean in terms of labeling efficiency, arguably like a three order of magnitude improvement in labeling efficiency. For those who know about this, it’s extremely fundamental, so that’s really great progress on that,” Musk said.
Tesla vehicles rely on a custom chip that boasts of 144 tera operations per second (TOPS) for its self-driving capabilities. This two-chip FSD computer works in tandem with LPDDR4 RAM modules that come with a peak bandwidth of 68 GB/s. There are also two neural network accelerators that work in tandem to process as much as 1TB of data per second. This setup is roughly three times faster, about 80%, and about 1.25 times more power-efficient than the previous hardware. It is also able to process about 2,300 frames per second compared to the 110 frames per second processed by Tesla’s Hardware 2.5.
In his series of tweets on Sunday, Musk also mentioned Tesla’s “Dojo” supercomputer, which is speculated to be capable of processing vast amounts of data to train the company’s neural network. Through active learning, Tesla curates the most useful video clips from its fleet of connected cars and train the neural net to recognize things that it did not previously know.
“Our networks learn from the most complicated and diverse scenarios in the world, iteratively sourced from our fleet of nearly 1M vehicles in real-time. A full build of Autopilot neural networks involves 48 networks that take 70,000 GPU hours to train. Together, they output 1,000 distinct tensors (predictions) at each timestep,” Tesla wrote on the Autopilot AI section of its website.
“At Tesla, using AI to solve self-driving isn’t just icing on the cake, it the cake” – @lexfridman
Join AI at Tesla! It reports directly to me & we meet/email/text almost every day. My actions, not just words, show how critically I view (benign) AI.https://t.co/iF97zvYZRz
— Elon Musk (@elonmusk) February 2, 2020
The last major software update rolled out by Tesla allowed its vehicles to visualize more things while driving in inner-city streets. Teslas now render stoplights, stop signs, traffic cones, traffic pylons, and more.
With the upcoming AI hackathon, Tesla will get together with developers to seek out more efficient algorithms and overall improvements to the core logic for its Full Self-Driving suite through a time-boxed event. With fresh eyes working with the existing AI and autopilot team of Tesla, the carmaker may be able to accelerate the timeline and rollout of its full-featured Full Self-Driving suite sooner.
Further advances in FSD and its Autopilot feature will widen the gap between Tesla and its competitors and solidify the company’s position as one of the leading automakers in the world. These improvements will also take Tesla a step closer to the possibility of Robotaxis that they can deploy at scale.
The hackathon will also allow Tesla to fish for new AI talents to join the team. On Sunday, Musk also mentioned that the electric carmaker is looking for world-class chip designers and C++/C engineers for vehicle control and other functions of Tesla vehicles.
Musk reiterated that educational attainment is not important when joining Tesla but rather a clear understanding of how AI and neural networks function and the ability to build useful applications using that knowledge.
Tesla has finally clarified the situation regarding the viral crash in Texas where a Model 3 slammed into a home.
CEO Elon Musk replied to reports on Monday that stated the crash was due to the company’s Full Self-Driving or Autopilot suite, which seemed unlikely to those who are familiar with it. Video showed the car slamming into a house at an excessive rate of speed, making it highly unlikely the crash was due to the suite’s operation, as it does not travel at those speeds in residential areas.
Musk said:
“This makes no sense. FSD drives slowly through neighborhood streets, and this was a high-speed crash!”
Tesla’s Head of AI, Ashok Elluswamy, added context, revealing that the company’s data shows the driver “manually overrode self-driving by pressing the accelerator all the way to 100%.”
He revealed the speed reached by the car was 73 MPH, and the accelerator was still pressed “even after the crash.”
Yup. In this case, the driver manually overrode self-driving by pressing the accelerator all the way to 100% of the accel pedal in this residential area. They reached a speed of 73 mph during the crash, and had the accelerator pressed even after the crash.
— Ashok Elluswamy (@aelluswamy) June 22, 2026
Authorities are reportedly investigating “whether Tesla’s Autopilot system played a role after a Model 3 left the roadway…slammed through a brick house at high speed and fatally struck Matha Avila as she sat inside,” the New York Post reported.
The National Highway Traffic Safety Administration (NHTSA) is now investigating the crash. Tesla will work with the agency to provide them with whatever information they need in order to clarify the cause of the crash.
Similarly, Tesla had claims of a fatal accident in Harris County, Texas, a few years ago. Early reports indicated that Full Self-Driving was the cause of the crash. After the National Transportation Safety Board (NTSB) worked with Tesla, the agency proved there was “no use of the Autopilot system at any time during this ownership period of the vehicle, including the time frame up to the last transmitted timestamp on April 17, 2021.”
Tesla alleged “driverless” crash in Texas: What is known so far
“Application of the accelerator pedal was found to be as high as 98.8 percent,” the NTSB said in their findings. The highest recorded speed in the five seconds leading up to the impact was 67 miles per hour. The area where the crash occurred is residential, and Texas State laws have default speed limits of 30 MPH in residential streets.
This appears to be a similar situation. However, an investigation will prove what happened for sure.
SpaceX announced today that it commenced its first-ever public bond offering, marking a significant step in the newly public company’s capital markets strategy.
The company announced an offering of senior unsecured notes expected to raise at least $20 billion.
The move comes just a short time after SpaceX completed one of the largest initial public offerings in history. In mid-June, the company priced shares at $135 and raised more than $85 billion, propelling founder Elon Musk’s net worth past the trillion-dollar mark and giving the firm substantial liquidity.
🚨 SpaceX has announced its inaugural offering of senior unsecured notes.
The net proceeds will be used to repay outstanding loans under its bridge loan facility in full.
This inaugural debt offering represents a financing milestone for SpaceX, which previously depended… pic.twitter.com/pcOZuVbTRv
— TESLARATI (@Teslarati) June 22, 2026
According to the company’s SEC filing, the net proceeds from the notes will be used primarily to repay in full the outstanding borrowings under its existing bridge loan facility, cover related fees and expenses, and fund general corporate purposes. The offering is being conducted under Rule 144A, as well as Regulation S, targeting qualified institutional buyers and non-U.S. investors. Notes will be unsecured obligations ranking equally with other unsubordinated debt.
The $20 billion bridge loan was used to refinance approximately $17.5 billion in higher-cost “junk” debt tied to X and xAI. SpaceX had merged with xAI in February 2026 in an all-stock deal. The bridge facility, which matures in September 2027, had represented the bulk of SpaceX’s long-term debt.
SpaceX officially acquires xAI, merging rockets with AI expertise
In connection with the bond launch, SpaceX disclosed it held approximately $100.8 billion in cash and cash equivalents as of June 19. Investor calls began on the announcement date, with pricing and launch expected shortly thereafter. Rating agencies have assigned investment-grade ratings to the proposed bonds, reflecting confidence in SpaceX’s dominant position in commercial launches and the growth trajectory of its Starlink internet offering.
The debt raise also allows SpaceX to optimize its balance sheet by replacing short-term, higher-cost bridge financing with longer-date, lower-cost fixed-income securities. This provides greater financial flexibility to support capital-intensive initiatives, including the development of Starship, the expansion of the Starlink constellation, and the integration of AI capabilities following the xAI combination.
SpaceX shares (NASDAQ: SPCX) fell sharply on the news, dropping over 16 percent overall on the market on Monday. The stock had surged initially after debuting but pulled back amid profit-taking and broader market dynamics.
Overall, the bond offering underscores SpaceX’s transition to a mature public company with access to diverse funding sources. It positions the firm to pursue its long-term vision of multiplanetary expansion and AI infrastructure, while maintaining a disciplined approach to its capital structure in a high-growth but capital-heavy industry.
SpaceX confirmed today that it has officially signed its third massive compute deal, providing compute at its Colossus data center in Southaven, Mississippi.
Reflection AI will gain immediate access to NVIDIA GB300 chips at SpaceX’s Colossus 2 data center. In return, Reflection will pay SpaceX $150 million per month starting on July 1, with total payments reaching approximately $6.3 billion if the contract runs through its duration, which is until 2029. Either party can terminate the agreement with 90 days’ notice after the initial three-month period.
CNBC first reported the deal.
🚨 SpaceXAI has agreed to a new compute deal with Reflection AI.
Reflection gets access to NIVIDIA GB300s, and will pay $150M per month to SpaceXAI for the compute. pic.twitter.com/bNPare8U5u
— TESLARATI (@Teslarati) June 22, 2026
This latest partnership highlights SpaceX’s strategy of commercializing its massive Colossus supercomputing infrastructure, originally developed to power Elon Musk’s Grok AI models. The company has rapidly expanded its customer base in the AI sector following its February 2026 merger with xAI, a transaction that valued the combined entity at $1.25 trillion.
SpaceX has previously signed significant compute deals with other major players.
It granted Anthropic exclusive access to the full capacity of its Colossus 1 data center, which exceeds 300 megawatts and includes over 220,000 NVIDIA GPUs. Details from SpaceX’s IPO filings indicate Anthropic will pay $1.25 billion per month through May 2029, potentially generating around $45 billion over the term of the deal.
Additionally, Google agreed to pay SpaceX $920 million per month for compute capacity from October 2026 through June 2029. This 32-month period will provide Google access to roughly 110,000 NVIDIA GPUs, along with supporting processors and memory. Capacity ramps up through September at a reduced fee, with termination options after the first year.
SpaceXA also established arrangements for computing power with Cursor, an AI coding startup. SpaceX acquired them in a $60 billion all-stock deal.
These arrangements position SpaceX’s collective position as an AI infrastructure powerhouse with high-margin revenue potential. The Google deal alone could generate nearly $29.5 billion over its term, while the Reflection contract adds another $6.3 billion.
Combined with the Anthropic arrangement, SpaceX stands to realize tens of billions in revenue from compute leasing in the coming years, which diversifies beyond SpaceX’s traditional rocket launches and Starlink operation.
The deals underscore growing demand for advanced AI training and inference capacity amid chip shortages and surging model development needs. Reflection, valued at $25 billion and focused on “American open intelligence” with government and national security ties, cited recent restrictions on closed models as validation for open-source approaches.
For SpaceX, the partnerships transform capital-intensive data centers into flexible revenue sources while supporting its broader AI ambitions after the company has gone public.
Tesla finally clarifies fatal Texas crash, confirms driver manually overrode acceleration
SpaceX makes $20 billion move to optimize its balance sheet
