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After Tesla trademarked ‘CYBERBACKPACK,’ the product’s inventor sits at a crossroads
Riz Nwosu was inspired when he went to the Tesla Cybertruck unveiling in 2019. After snagging some pictures with the newly-revealed Cybertruck and company CEO Elon Musk, Riz developed a backpack inspired by the futuristic pickup he saw in Hawthorne, California, in late 2019. By December 2021, he had a prototype and a website. Less than six months later, he found Tesla had trademarked the name of his product.
Since December, Riz says he has been developing the “CYBERBACKPACK,” an idea that blossomed from a product unveiling nearly two and a half years ago. “I began designing and building what would become the Cyberbackpack,” Riz said in a blog post he published shortly after reports of Tesla trademarking the name. This all occurred just six months ago, with the first prototypes arriving at his house in March 2022. Later that month, the product would launch on ProductHunt and Spotify, as Riz had received plenty of inquiries from potential customers.
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In March, Riz reached out to Tesla CEO Elon Musk on Twitter and other prominent figures within the company, looking to collaborate on the idea. He felt as if the Cyberbackpack would be something both he and the automaker could benefit from. The Cybertruck, with its mass appeal and loyal following, would likely do well in a “backpack” version, and it would be a dream for Riz, who purchased his first Tesla in March 2016.
On April 5, Tesla trademarked the “CYBERBACKPACK” name, bringing some speculation that the automaker had approached the fan to purchase or collaborate on his idea. After all, Riz’s website, Cyberbackpack.com, was not active when the initial reports came out earlier this week, which only fueled the speculation that Tesla probably liked the idea and decided to approach him about it. Riz was alarmed, however, as Tesla didn’t contact him about the bag, nor his idea or the name of the product. They had instead trademarked the name of the backpack, which sent Riz into a state of confusion.
November 2019
I attended the unveiling of the Cybertruck where I got to meet Elon Musk, a person I have admired and respected for many years.Pop Quiz: How many Africans do you see in this photo? It’s definitely not equal to one. pic.twitter.com/MTLpB4lEUA
— Riz (@Riz) April 14, 2022
“I decided to temporarily take the site down after receiving a bunch of orders and reaching out to Tesla,” Riz told Teslarati in a statement. “I thought it best to rework the site and get my manufacturer setup properly and then relaunch.”
“Tesla never contacted me.”
Teslarati contacted several patent and trademark law firms, and representatives essentially explained Tesla may have trademarked the name to protect itself from any repercussions that could come from the product’s design. One lawyer explained to us it was a “strategic” and “defensive” strategy that Tesla may use to avoid a situation like Apple did with its AirPods. Apple had so many counterfeit AirPod designs on the market that eventually, it had to do damage control on knockoffs, as some were catching fire or having other dangerous malfunctions. The issue is that Apple could prove that consumers immediately think of “Apple” when they see designs of AirPod knockoffs. This is essentially dangerous to Apple, even though they did not create the AirPod knockoffs, because consumer sentiment relates that design to Apple, and not to a third-party company.
Tesla could technically argue the same thing, legal experts told us. People may see the Cyberbackpack’s design and immediately think Tesla designed it. If negativity were to come from that design in any way, people would likely relate the backpack to Tesla and not to a third-party company, which could damage Tesla’s name.
Riz ultimately filed his own trademark application several days ago, with a “first use” date of December 2021, when he built the website and came up with the design. A loyal Tesla fan and supporter, Riz just wants to work with the company to help fulfill the idea. “My goal is to work with Tesla on some fashion to distribute the product. That’s why I reached out initially. However if that does not happen, then I would like to continue marketing and selling on my site,” he told us.
Dear Twitter, do your thing ??
.@elonmusk @Tesla @Teslarati @InsideEVs @ElectrekCo #ElonMusk #elon #tesla #cyberbackpack pic.twitter.com/gPxJVcp50X— Riz (@Riz) April 16, 2022
I’d love to hear from you! If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.
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.”
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“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.
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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
