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Tesla Model S P100DL racing series Electric GT hits another delay
Back in April, the Electric Production Car Series, better known as Electric GT, revealed an eight-round calendar for its inaugural season, which was expected to begin this November at Jerez, Spain. The organization later unveiled its first race-ready vehicle, a highly-modified Tesla Model S P100DL, that is optimized for the track. Unfortunately, recent updates from Electric GT indicates that the racing series would be delayed yet again.
Electric GT was originally expected to begin in 2017, but delays forced the organization to push back the debut of the all-electric, Tesla-exclusive racing series. This time around, EGT noted that it was delaying the launch of the series since it is still seeking a lead investor. In a statement to Autosport, EGT CEO Mark Gemmell stated that almost everything is ready — from the series’ racing categories, FIA approval, and technical and broadcast partners. With an investor in the picture, Gemmell noted that the racing series could begin as early as the first half of 2019.
“Accelerating development in both electric mobility and sustainable energy means ‘The Age of Light’ will fast be with us. The Age of Light is a vision that has driven us for over three years to build an Electric Production Car Series that excites and inspires, and it is now close to final launch. Almost everything is ready: we’ve developed three fantastic race categories, received FIA approval and welcomed new technical and broadcast partners.
“The final ingredient is confirming a great lead investor who shares our vision of clean energy and transport, which is fundamental to launching the championship at the highest level possible. The championship start date will be set once this lead investor has been confirmed. As any start-up, we adapt and test our strategy to make sure the timing is right and the market ready. In creating an engaging and inclusive championship, we want to be open with our fans and supporters as we close in on this final step to bring the racing we all want to see.”
Last July, Electric GT showcased its first track-optimized Tesla Model S P100DL, where it was test-driven by veteran auto host Tiff Needell, who drove the vehicle around the Circuit de Barcelona-Catalunya in Barcelona. Needell, a former racing driver and presenter for programs such as Top Gear and Fifth Gear, was largely impressed with the track-optimized Model S P100DL, as the vehicle was powerful and it remained planted on the road despite performing aggressive maneuvers on the racetrack.
Unfortunately, Needell’s track session was cut short when Electric GT’s race-modified Model S P100DL exhibited heating issues after one lap and a half of hard driving, forcing the former racecar driver to head over to the pits, where the P100DL had to be cooled down. A spokesperson from EGT later issued a statement about the incident, explaining that the heating issue was caused by one of the vehicle’s outdoor temperature sensors from the air conditioning system being disconnected.
The Tesla Model S P100DL is a monster on straight-line races, but its limitations on the track are well documented. Electric GT is aware of this, and it has developed a system that could address the vehicles’ heating issues. The organization plans to introduce a system that would allow drivers to manage how much of the vehicle’s power they wish to use. Thus, to avoid overheating, drivers could opt to drive with a more manageable 470 hp, and only unleash the Model S P100DL’s full 778 hp when sprinting or overtaking. The Electric GT spokesperson noted that for the inaugural season, at least, the system will be “part of the strategy and part of the show.”
Elon Musk
Elon Musk confirms xAI’s purchase of five 380 MW natural gas turbines
The deal, which was confirmed by Musk on X, highlights xAI’s effort to aggressively scale its operations.
xAI, Elon Musk’s artificial intelligence startup, has purchased five additional 380 MW natural gas turbines from South Korea’s Doosan Enerbility to power its growing supercomputer clusters.
The deal, which was confirmed by Musk on X, highlights xAI’s effort to aggressively scale its operations.
xAI’s turbine deal details
News of xAI’s new turbines was shared on social media platform X, with user @SemiAnalysis_ stating that the turbines were produced by South Korea’s Doosan Enerbility. As noted in an Asian Business Daily report, Doosan Enerbility announced last October that it signed a contract to supply two 380 MW gas turbines for a major U.S. tech company. Doosan later noted in December that it secured an order for three more 380 MW gas turbines.
As per the X user, the gas turbines would power an additional 600,000+ GB200 NVL72 equivalent size cluster. This should make xAI’s facilities among the largest in the world. In a reply, Elon Musk confirmed that xAI did purchase the turbines. “True,” Musk wrote in a post on X.
xAI’s ambitions
Recent reports have indicated that xAI closed an upsized $20 billion Series E funding round, exceeding the initial $15 billion target to fuel rapid infrastructure scaling and AI product development. The funding, as per the AI startup, “will accelerate our world-leading infrastructure buildout, enable the rapid development and deployment of transformative AI products.”
The company also teased the rollout of its upcoming frontier AI model. “Looking ahead, Grok 5 is currently in training, and we are focused on launching innovative new consumer and enterprise products that harness the power of Grok, Colossus, and 𝕏 to transform how we live, work, and play,” xAI wrote in a post on its website.
Elon Musk
Elon Musk’s xAI closes upsized $20B Series E funding round
xAI announced the investment round in a post on its official website.
xAI has closed an upsized $20 billion Series E funding round, exceeding the initial $15 billion target to fuel rapid infrastructure scaling and AI product development.
xAI announced the investment round in a post on its official website.
A $20 billion Series E round
As noted by the artificial intelligence startup in its post, the Series E funding round attracted a diverse group of investors, including Valor Equity Partners, Stepstone Group, Fidelity Management & Research Company, Qatar Investment Authority, MGX, and Baron Capital Group, among others.
Strategic partners NVIDIA and Cisco Investments also continued support for building the world’s largest GPU clusters.
As xAI stated, “This financing will accelerate our world-leading infrastructure buildout, enable the rapid development and deployment of transformative AI products reaching billions of users, and fuel groundbreaking research advancing xAI’s core mission: Understanding the Universe.”
xAI’s core mission
Th Series E funding builds on xAI’s previous rounds, powering Grok advancements and massive compute expansions like the Memphis supercluster. The upsized demand reflects growing recognition of xAI’s potential in frontier AI.
xAI also highlighted several of its breakthroughs in 2025, from the buildout of Colossus I and II, which ended with over 1 million H100 GPU equivalents, and the rollout of the Grok 4 Series, Grok Voice, and Grok Imagine, among others. The company also confirmed that work is already underway to train the flagship large language model’s next iteration, Grok 5.
“Looking ahead, Grok 5 is currently in training, and we are focused on launching innovative new consumer and enterprise products that harness the power of Grok, Colossus, and 𝕏 to transform how we live, work, and play,” xAI wrote.
Tesla (NASDAQ: TSLA) stock received a price target update from Pierre Ferragu of Wall Street firm New Street Research, citing the company’s growing lead in self-driving and autonomy.
On Tuesday, Ferragu bumped his price target from $520 to $600, stating that the consensus from the Consumer Electronics Show in Las Vegas was that Tesla’s lead in autonomy has been sustained, is growing, and sits at a multiple-year lead over its competitors.
CES 2026 validates Tesla’s FSD strategy, but there’s a big lag for rivals: analyst
“The signal from Vegas is loud and clear,” the analyst writes. “The industry isn’t catching up to Tesla; it is actively validating Tesla’s strategy…just with a 12-year lag.”
The note shows that the company’s prowess in vehicle autonomy is being solidified by lagging competitors that claim to have the best method. The only problem is that Tesla’s Vision-based approach, which it adopted back in 2022 with the Model 3 and Model Y initially, has been proven to be more effective than competitors’ approach, which utilizes other technology, such as LiDAR and sensors.
Currently, Tesla shares are sitting at around $433, as the company’s stock price closed at $432.96 on Tuesday afternoon.
Ferragu’s consensus on Tesla shares echoes that of other Wall Street analysts who are bullish on the company’s stock and position within the AI, autonomy, and robotics sector.
Dan Ives of Wedbush wrote in a note in mid-December that he anticipates Tesla having a massive 2026, and could reach a $3 trillion valuation this year, especially with the “AI chapter” taking hold of the narrative at the company.
Ives also said that the big step in the right direction for Tesla will be initiating production of the Cybercab, as well as expanding on the Robotaxi program through the next 12 months:
“…as full-scale volume production begins with the autonomous and robotics roadmap…The company has started to test the all-important Cybercab in Austin over the past few weeks, which is an incremental step towards launching in 2026 with important volume production of Cybercabs starting in April/May, which remains the golden goose in unlocking TSLA’s AI valuation.”
Tesla analyst breaks down delivery report: ‘A step in the right direction’
Tesla has transitioned from an automaker to a full-fledged AI company, and its Robotaxi and Cybercab programs, fueled by the Full Self-Driving suite, are leading the charge moving forward. In 2026, there are major goals the company has outlined. The first is removing Safety Drivers from vehicles in Austin, Texas, one of the areas where it operates a ride-hailing service within the U.S.
Ultimately, Tesla will aim to launch a Level 5 autonomy suite to the public in the coming years.
Elon Musk confirms xAI’s purchase of five 380 MW natural gas turbines
Elon Musk’s xAI closes upsized $20B Series E funding round
