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Pinterest stock price has remained in a tight range in the past few days as investors assess its growth trajectory. PINS ended the week at $34.22, a few points below this month’s high of $35.4 It is about 45% above its lowest level in April this year. 

Pinterest growth continuing

Pinterest, a leading social media company, has been in a strong growth trajectory in the past few years. Its annual revenue has jumped from over $1.69 billion in 2020 to over $3.64 billion last year. 

Pinterest’s monthly users have been rising, moving from 160 million in 2016 to over 570 million, making it one of the top players in the social media space. 

Its business continued growing in the last quarter, albeit at a slower pace. Its revenue grew by 16% to over $855 million, with most of it coming from the United States and Canada. 

The US and Canada bring most of its revenue even though they account for a small share of its monthly users. They have 102 monthly users, accounting for about 17% of the 570 monthly users. 

Europe has become the fastest-growing market in terms of revenue. Its revenue grew by 24% in the first quarter to $147 million.

Most importantly, Pinterest’s EBITDA is growing. Its EBITDA jumped by 36% to $172 million, helped by its revenue growth and cost-cutting measures. 

Double-digit growth to continue

The management and Wall Street analysts are optimistic that it will have double-digit growth for a while. In the recent results, the management estimated that the second-quarter revenue growth will be between $960 million and $980 million, while its adjusted EBITDA will be between $217 million and $237 million. 

The average revenue estimate among Wall Street analysts is that its second-quarter revenue will be $973 million, a 14% annual increase. It will then cross the $1 billion metric next quarter.

Pinterest’s annual revenue will be $4.16 billion, followed by $4.74 billion in 2026, representing annual growth rates of over 14%. This revenue growth is much better than Meta Platforms.

Another potential catalyst for Pinterest stock is that it is relatively undervalued compared to other social media companies. It has a forward price-to-earnings ratio of 18, higher than the S&P 500’s 22.

Analysts see some more upside for the Pinterest stock. The average target among analysts is $40, up from $34.22. Some of the most bullish analysts are from JPMorgan and Wolf Research who have an overweight and outperform rating. 

Read more: Top stocks forecasts ahead of earnings: Toast, Pinterest, Affirm, DraftKings

Pinterest stock price analysis

PINS stock chart | Source: TradingView

The daily chart shows that the PINS share price has rebounded in the past few months, moving from a low of $23.72 in April to a high of $35.4 this month. 

Notably, the stock is about to form a golden cross pattern, which happens when the 50-day and 200-day moving averages are about to cross each other. This cross is one of the most bullish patterns in technical analysis, and is happening as it remains at the 50% Fibonacci Retracement level. 

Therefore, the Pinterest stock price will likely have a bullish breakout, with the next point to watch being the psychological point at $40. 

The post Is Pinterest stock a good buy as the golden cross pattern nears? appeared first on Invezz

The Dow Jones Index has moved sideways in the past few weeks as investors reacted to the ongoing crisis in the Middle East. The blue-chip index, which tracks some of the biggest American companies, ended last week at $42,205, a few points below this month’s high of $43,120. Here are some of the top catalysts for the index this week.

US, Israel, and Iran’s war

The main catalyst for the Dow Jones this week will be the ongoing crisis between Iran, Israel, and the United States. The United States launched a bomb attack against key Iranian nuclear sites on Saturday night. 

It attacked sites in Fordow, Natanz, and Esfahan as it sought to destroy Iran’s nuclear program. In a Truth Social post, Trump threatened more actions against Iran if it retaliated against the United States. 

It is unclear what happens after this between the three countries. What is clear is that the markets could have some volatility on Monday and that West Texas Intermediate and Brent crude oil prices could surge. 

Higher oil prices means that the US inflation will remain at an elevated level in the coming months. Higher inflation levels will make it difficult for the Federal Reserve to cut interest rates as Donald Trump has demanded.

Top corporate earnings

The other major catalyst for the Dow Jones this week will be key earnings from some important companies. 

The first major company to watch will be FedEx, one of the top players in the delivery industry. FedEx and other similar firms like UPS are often seen as barometers for the American and global economy because of the volumes of parcels they deliver. FedEx’s earnings will come three days after its founder’s death.

Nike, a major player in the Dow Jones Index will also publish its finances on Thursday. These numbers will provide more color about its business and whether the turnaround efforts are working. 

The other top companies that may impact the Dow Jones Index are Carnival, Micron, FactSet, and Paychex.

US PCE and other macro data

The Dow Jones Index will also react to the upcoming personal consumption expenditure (PCE) data on Friday. PCE is an important inflation data that looks at the change in prices of urban and rural areas. 

Economists expect the data to show that the headline PCE inflation rose from 2.1% in April to 2.2% in May. Core PCE is expected to move from 2.5% to 2.6%. 

These numbers often have an impact on the Federal Reserve. Signs that inflation rose in May would justify the Federal Reserve’s caution on interest rates. In last week’s interest rate decision, the bank left rates unchanged and hinted that it will deliver just two cuts this year. 

The other top macro data that may impact the Dow Jones Index are the US first-quarter GDP, initial jobless claims, consumer confidence, and the flash manufacturing and services PMI data.

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Israel’s Ambassador to the United Nations Danny Danon, slammed Iran’s UN representative as ‘a wolf disguised as a diplomat,’ during a fiery session of the Security Council on Saturday, hours before the US struck three nuclear sites in Iran. 

Following the US strike on nuclear sites in Fordow, Natanz and Isfahan, which President Donald Trump said had been ‘totally obliterated,’ Iran’s Ambassador to the UN Amir Saeid Iravani demanded another ’emergency meeting’ of the Security Council calling for condemnation ‘in the strongest possible terms’ of the US actions and for it not to go ‘unpunished.’

‘The Islamic Republic of Iran urgently requests the Security Council to convene an emergency meeting without delay to address this blatant and unlawful act of aggression,’ Iravani wrote in a letter to UN Secretary General António Guterres.

Iravani called the US strikes ‘premeditated, and unprovoked,’ and said it was a ‘flagrant violation of international law.’

Earlier, Danon, in response to similar allegations against Israel, highlighted the council’s hypcoricy, callilng the Iranian representative a ‘wolf disguised as a diplomat.’ 

‘How dare a representative of a regime that finances, arms and orchestrates terrorism all over the world, ask for compassion from this Council?’ Danon said during a council session on Saturday. ‘You are not a victim. You are not a diplomat. You are a wolf disguised as a diplomat, and we are done pretending otherwise.’ 

Following the US strike on Iran, which included five to six bunker buster bombs dropped on Fordow nuclear site and some 30 Tomahawk missiles fired against sites in Natanz and Isfahan, Danon told Fox News Digital that ‘after decades of ignoring the International community, Iran is trying to play victim and ask for sympathy from the Security Council.’ 

‘Sec Gen Guterres should be thanking President Trump for taking action and making the world a safer place — instead of condemning the U.S. for promoting peace through strength,’ Danon told Fox News Digital.

‘After years of the UN’s incompetence that allowed Iran to accelerate its dangerous nuclear weapons program, the U.S. has acted forcefully to prevent a destructive nuclear Iran from threatening Israel, the U.S. and the free world,’ he said. 

‘I am gravely alarmed by the use of force by the United States against Iran today. This is a dangerous escalation in a region already on the edge – and a direct threat to international peace and security,’ Guterres said in a statement.

‘There is a growing risk that this conflict could rapidly get out of control – with catastrophic consequences for civilians, the region, and the world,’ he added, calling on UN member states to ‘de-escalate and to uphold their obligations under the UN Charter and other rules of international law.’

An Iranian missile attack on Israel on Sunday, hours after the US struck nuclear facilities in Iran, scored direct hits in the cities of Tel Aviv, Haifa and Nes Ziona, causing widespread destruction but no immediate fatalities, Israeli authorities said.

Images shared by Israel’s first responders showed multistorey buildings with their sides blown away and windows shattered and single-family homes in ruins, as rescue crews searched the debris for survivors.

Israel’s first aid agency, Magen David Adom, said there were no initial reports of fatalities but dozens were injured and evacuated to hospital.

In a press briefing, Tel Aviv’s Mayor Ron Huldai said the damage in his city was ‘very extensive but in terms of human life, we are okay.’

‘Houses here were hit very, very badly,’ he said, adding that ‘fortunately, one of them was slated for demolition and reconstruction, so there were no residents inside. Those who were in the shelter are all safe and well.’

In Nes Ziona, a town just south of Tel Aviv, a house was directly hit by a missile and the surrounding buildings destroyed, but, according to Israeli media reports, the families were in their shelter.

Israel’s home front command on Sunday put the country back onto emergency footing, days after some of the restrictions on commercial centers and larger gatherings had been eased.

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Co-sponsors of the War Powers Resolution, Reps. Ro Khanna, D-Calif, and Thomas Massie, R-Ky., were quick to criticize President Donald Trump for greenlighting attacks on three nuclear sites in Iran Saturday night. 

‘This is not constitutional,’ Massie said, responding to Trump’s Truth Social post announcing the strikes on Fordow, Natanz and Isfahan in Iran. 

The bipartisan War Powers Resolution was introduced in the House of Representatives this week as strikes between Israel and Iran raged on, and the world stood by to see if Trump would strike. 

Sources familiar told Fox News Digital that both House Speaker Mike Johnson, R-La., and Senate Majority Leader John Thune, R-S.D., were briefed on the strikes ahead of time. 

‘Trump struck Iran without any authorization of Congress. We need to immediately return to DC and vote on @RepThomasMassie and my War Powers Resolution to prevent America from being dragged into another endless Middle East war,’ Khanna said. 

This week, lawmakers sounded off on the unconstitutionality of Trump striking Iran without congressional approval. Congress has the sole power to declare war under Article I of the Constitution

The War Powers Resolution seeks to ‘remove United States Armed Forces from unauthorized hostilities in the Islamic State of Iran’ and directs Trump to ‘terminate’ the deployment of American troops against Iran without an ‘authorized declaration of war or specific authorization for use of military forces against Iran.’

As Trump announced his strikes against Iran – without congressional approval – Khanna said representatives should return to Capitol Hill to prevent further escalation.

And in the upper chamber, Sen. Tim Kaine, D-Va., introduced his own war powers resolution ahead of the bipartisan duo in the House. While the resolution had been gaining steam with his colleagues, momentum could be stalled due to the strikes. His resolution is privileged, meaning that lawmakers will have to consider it. The earliest it could be voted on is Friday.

Kaine argued in a statement that ‘the American public is overwhelmingly opposed to the U.S. waging war on Iran.’

‘And the Israeli Foreign Minister admitted yesterday that Israeli bombing had set the Iranian nuclear program back ‘at least 2 or 3 years,” he said. ‘So, what made Trump recklessly decide to rush and bomb today? Horrible judgment. I will push for all senators to vote on whether they are for this third idiotic Middle East war.’

This week on Capitol Hill, Massie, the conservative fiscal hawk who refused to sign onto Trump’s ‘big, beautiful bill,’ built an unlikely bipartisan coalition of lawmakers resisting the U.S.’ involvement in the Middle East conflict. 

‘This is not our war. But if it were, Congress must decide such matters according to our Constitution,’ Massie said. 

Massie, whom Trump threatened to primary during the House GOP megabill negotiations, invited ‘all members of Congress to cosponsor this resolution.’ By Tuesday night, the bipartisan bill had picked up 27 cosponsors, including progressive ‘Squad’ members Reps. Alexandria Ocasio-Cortez and Ilhan Omar.

Across the political aisle, Rep. Marjorie Taylor Greene, R-Ga., signaled her support, writing that Americans want an affordable cost of living, safe communities and quality education ‘not going into another foreign war.’

‘This is not our fight,’ Greene doubled down on Saturday night, before Trump’s Truth Social announcement. 

The bill’s original co-sponsors also include progressive Democrat Reps.Pramila Jayapal, Summer Lee, Ayanna Pressley and Rashida Tlaib, who called it unconstitutional for ‘Trump to go to war without a vote in Congress.’

White House Press Secretary Karoline Leavitt said Thursday that Trump would make his decision about whether to bomb Iran within two weeks. 

‘We have completed our very successful attack on the three Nuclear sites in Iran, including Fordow, Natanz, and Esfahan. All planes are now outside of Iran air space. A full payload of BOMBS was dropped on the primary site, Fordow. All planes are safely on their way home. Congratulations to our great American Warriors. There is not another military in the World that could have done this. NOW IS THE TIME FOR PEACE! Thank you for your attention to this matter,’ Trump said Saturday night. 

Israel launched preemptive strikes on Iran’s nuclear facilities and military leaders last week, which the Islamic Republic considered a ‘declaration of war.’ Strikes between Israel and Iran have raged on since, as Trump said he was considering whether to sign off on U.S. strikes against Iran. 

The Jewish State targeted Iran’s nuclear capabilities after months of failed negotiations in the region and heightened concern over Iran developing nuclear weapons. 

But Ali Bahreini, Iran’s ambassador to Geneva, said Iran ‘will continue to produce the enriched uranium as far as we need for peaceful purposes,’ as Israel, and now the U.S., have issued strikes against Iran’s nuclear capabilities. 

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A top expert on the Iran nuclear program believes the regime’s atomic program has been obliterated by Saturday night’s strikes by the United States.

‘The nuclear program is no longer,’ Jonathan Schanzer, Executive Director of the Foundation for Defense of Democracies, a ‘national security and foreign policy’ think tank, told Fox News Digital.

‘Sources in Israel report with high confidence that this chapter is over. Responsible parties must still remove nuclear materials from the facility in Isfahan. But that appears to be the final page to turn,’ he continued. 

President Donald Trump said during his address on Saturday night that ‘Iran’s key nuclear enrichment facilities have been completely and totally obliterated.’ 

Fox News reported earlier on that Isfahan was ‘the hardest target,’ according to a senior U.S. official.

‘Everyone was talking about and focused on Fordow, but Isfahan was actually the hardest target,’ the official said on background. The U.S. used B-2 bombers to carry out the mission.

A senior U.S. official also told Fox News that Israeli Prime Minister Benjamin Netanyahu communicated after the strikes and that Israel had been informed ahead of time.

Lisa Daftari, Iran expert and Editor-in-Chief of The Foreign Desk, told Fox News Digital, ‘Both Israeli and U.S. officials understand that anything less than total destruction of Iran’s nuclear infrastructure will only result in a temporary pause, not a permanent end. But to truly end Iran’s nuclear ambitions, the U.S. and its allies must commit to a campaign—beyond these targeted strikes—backed by sustained pressure, intelligence, and the credible threat of further action if Iran attempts to rebuild.

‘To ensure the eradication of the regime’s nuclear weapons capability, the U.S. must maintain persistent intelligence, surveillance, and reconnaissance to detect any attempts by Iran’s regime to disperse, hide or rebuild its nuclear infrastructure. This would be coupled with continued diplomatic isolation and strict multilateral sanctions blocking the regime’s access to nuclear technology, materials and financing,’ she said.

Trump announced that the U.S. had struck nuclear sites in Iran – a major development amid rising tensions in the region, as Israel and Iran continued to launch airstrikes against each other.

‘We have completed our very successful attack on the three Nuclear sites in Iran, including Fordow, Natanz, and Esfahan. All planes are now outside of Iran air space. A full payload of BOMBS was dropped on the primary site, Fordow,’ Trump posted to Truth Social on Saturday night.

‘All planes are safely on their way home. Congratulations to our great American Warriors. There is not another military in the World that could have done this. NOW IS THE TIME FOR PEACE! Thank you for your attention to this matter,’ he continued.

Fox News’ Sean Hannity said on Saturday night that President Donald Trump had given him details on the U.S. strikes in Iran. According to the ‘Hannity’ host, the U.S. used six bunker-buster bombs — each of which weighs 15 tons — in its strikes on Iran’s Fordow nuclear facility. The bombs were dropped from American B-2 stealth bombers.

During a press conference on Sunday morning, the number of bunker busters used was updated to 14 by Chairman of the Joint Chiefs of Staff Lt. Gen. Dan Caine.

‘President Trump took decisive leadership and action to eliminate the last vestiges of Iran’s nuclear weapons program, after Israel’s sustained strikes, which seriously damaged the atomic weapons supply chain from uranium conversion to enrichment, and all the way to weaponization,’ Andrea Stricker, FDD’s Director of Nonproliferation and Biological Weapons told Fox News Digital. 

‘While Tehran’s program is likely set back by years, the United States and Israel need to ensure the regime’s highly enriched uranium stockpiles and all secret advanced centrifuges are fully recovered and destroyed — which means more work ahead,’ she added.

Fordow had two entrances and one ventilation shaft, which likely served as the entrance points for the Massive Ordnance Penetrators (MOPs).

Additionally, 30 Tomahawk missiles launched from U.S. submarines were used in the attacks on the Nanatz and Isfahan facilities. There is speculation that the missiles were shot from an Ohio Class Submarine, but there has been no confirmation.

Fox News’ Jennifer Griffin contributed to this report.

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Sen. John Fetterman, D-Pa, backed President Donald Trump’s decision to have the United States attack three of Iran’s most fortified underground nuclear sites amid rapidly escalating tensions in the Middle East and intensifying Israeli and U.S. military operations against Iranian targets. 

Fetterman called the move ‘correct’ in a post on X just minutes after Trump shared the news on Truth Social. 

‘As I’ve long maintained, this was the correct move by @POTUS,’ Fetterman said. ‘Iran is the world’s leading sponsor of terrorism and cannot have nuclear capabilities. I’m grateful for and salute the finest military in the world.’ 

Trump declared the operation a ‘very successful attack’ targeting Iran’s key nuclear sites at Fordow, Natanz and Isfahan.

‘We have completed our very successful attack on the three Nuclear sites in Iran, incluidng Fordow, Natanz, and Esfahan,’ Trump wrote in the announcement. ‘All planes are now outside of Iran air space. A full payload of BOMBS was dropped on the primary site, Fordow. All planes are safely on their way home. Congratulations to our great American Warriors. There is not another military in the World that could have done this.’

He concluded his statement with a call for de-escalation: ‘NOW IS THE TIME FOR PEACE! Thank you for your attention to this matter.’

The overnight strike against Iran’s Fordow nuclear facility involved six bunker buster bombs, Trump told Fox News’ Sean Hannity Saturday night. Additionally, 30 Tomahawk missiles were launched from U.S. submarines in the attacks on Natanz and Isfahan facilities. 

The strike, marking a major escalation in an already volatile landscape, comes after more than a week of strikes by Israel to eradicate Iran’s offensive missile capabilities. 

The extent of the damage caused to Iran’s nuclear infrastructure so far remains unclear. 

Fox News’ Jasmine Baehr contributed to this report.

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Sen. Bernie Sanders, I-Vt., was delivering remarks at a ‘Fighting Oligarchy’ rally in Tusla, Okla., on Saturday night when President Donald Trump announced the United States had successfully attacked three nuclear sites in Iran. 

An aide interrupted Sanders’ remarks to deliver the message Trump had just blasted off on Truth Social. 

‘We have completed our very successful attack on the three Nuclear sites in Iran, including Fordow, Natanz, and Esfahan,’ Trump said in the post. 

Sanders read the piece of paper with Trump’s Truth Social post to his supporters, shaking his head as the socialist senator processed what the president had just announced. ‘No more wars!’ the crowd chanted. 

Trump added in the post: ‘All planes are now outside of Iran air space. A full payload of BOMBS was dropped on the primary site, Fordow. All planes are safely on their way home. Congratulations to our great American Warriors. There is not another military in the World that could have done this. NOW IS THE TIME FOR PEACE! Thank you for your attention to this matter.’

Sanders nodded along as the crowd continued to chant, ‘No more wars!’ before responding to the news in real time. 

He said the news was not only ‘alarming,’ but ‘so grossly unconstitutional.’

‘All of you know that the only entity that can take this country to war is the U.S. Congress. The president does not have the right,’ Sanders shouted. 

Sanders joins the bipartisan coalition in Congress who have called out the ‘unconstitutionality’ of Trump striking Iran without congressional approval. 

A bipartisan War Powers Resolution was introduced in the House of Representatives this week as strikes between Israel and Iran raged on, and the world stood by to see if Trump would strike. Congress has the sole power to declare war under Article I of the Constitution

The War Powers Resolution seeks to ‘remove United States Armed Forces from unauthorized hostilities in the Islamic State of Iran’ and directs Trump to ‘terminate’ the deployment of American troops against Iran without an ‘authorized declaration of war or specific authorization for use of military forces against Iran.’

‘The American people do not want more war, more death!’ Sanders said. ‘It might be a good idea if we concentrated on the problems that exist in Oklahoma and Vermont rather than getting involved in another war that the American people do not want.’

But Sanders told the crowd not to give up on their vision for America’s future. 

‘In this moment in American history, what we have got to do in Vermont and Oklahoma, in Texas, all over this country, is stand up and fight back, and tell them this is our country!’ Sanders said. 

Sanders has been a vocal opponent of the United States joining Israel in its war against Iran as Trump weighed striking its nuclear facilities. 

‘Netanyahu is not the President of the United States,’ Sanders said on social media earlier this week. 

‘He should not be determining U.S. foreign and military policy. If the people of Israel support his decision to start a war with Iran, that is their business and their war. The United States must not be a part of it,’ he added. 

The democratic socialist has been a vocal opponent of Prime Minister Benjamin Netanyahu’s war against Gaza since Israel retaliated following Hamas’ terrorist attacks on Oct. 7, 2023. 

After Israel launched preemptive strikes against Iran’s nuclear facilities last week, Sanders said it was ‘just his latest violation of international law,’ likening Netanyahu to a ‘war criminal.’

The Vermont senator was speaking at his second rally of the day, part of his southern swing of the ‘Fighting Oligarchy’ tour that Sanders started in response to Trump’s sweeping second-term agenda. 

Rep. Greg Casar, D-Tx., and former Rep. Beto O’Rourke, D-Tx., are slated to join the Vermont senator at his rallies in Texas on Sunday. 

And Rep. Alexandria Ocasio-Cortez, D-N.Y., joined Sanders on his Western swing of the tour earlier this year. 

The tour targets deep red districts currently held by Republicans, a strategy picked up by Gov. Tim Walz, D-Minn., who hosted town halls in Republican congressional districts, and the Democratic National Committee (DNC) through their ‘People’s Town Halls’ across the United States. 

Sanders also held a rally in House Speaker Mike Johnson’s hometown of Shreveport, La., on Saturday. 

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The long-anticipated Tesla robotaxi project is set to begin a limited rollout in Austin, Texas on 22 June.

The pilot will deploy 10 vehicles equipped with the company’s Full Self-Driving (FSD) software, marking the first time Tesla will offer autonomous rides to select users in a controlled urban environment.

The move aligns with Elon Musk’s earlier confirmation in May about launching the Robotaxi program this month, ahead of broader deployments in Los Angeles and San Francisco.

The first driverless journey is expected to occur on 28 June—Musk’s birthday—with initial operations constrained to a geofenced zone within Austin.

Tesla has opted to use modified Model Y vehicles rather than the CyberCab, which was unveiled in October but has not yet been integrated into this launch phase.

Access to the service will be limited and by invitation only, with a small group of influencers and stakeholders invited to experience early rides.

Tesla targets $2 trillion valuation from autonomous push

Elon Musk has been vocal about his vision for a driverless future since at least 2019 when he projected robotaxi launches by 2020.

That prediction fell short, but Tesla now appears closer than ever to delivering a commercial autonomous service.

Analysts, including Wedbush Securities’ Dan Ives, view the robotaxi debut as pivotal to Tesla’s long-term valuation, suggesting the company could surpass a $2 trillion market cap by the end of 2026.

According to Ives, Tesla’s scale gives it a global advantage in the autonomous sector, with the potential to not only lead in self-driving transport but also license its FSD technology to other automakers.

The company has not yet confirmed if licensing deals are on the horizon, but the Austin launch may serve as a test case for evaluating the reliability and scalability of Tesla’s system.

Safety concerns rise after demonstration test fails

Despite the excitement, public safety concerns are mounting.

Earlier this month, a group known as The Dawn Project, which campaigns for safer tech implementation, conducted a demonstration involving a Tesla Model Y using FSD software.

In the test, the car reportedly failed to stop for a stationary school bus and struck a child-sized mannequin, highlighting concerns over the real-world performance of autonomous features.

The Dawn Project is led by Dan O’Dowd, founder of Green Hills Software, a company that supplies safety technology to Tesla’s competitors.

While some have questioned the motivations behind the campaign, the incident has nonetheless intensified calls for stricter scrutiny.

Tesla’s FSD and FSD Supervised systems have been linked by NHTSA to numerous accidents and fatalities, but debate remains over how much fault lies with the software versus human drivers. 

Investigations have found that driver inattention, combined with system limitations, contributed to these incidents.

Texas lawmakers urge Tesla to delay launch to 1 September

The regulatory environment in Texas presents additional complications.

A group of Democratic lawmakers recently sent a letter to Tesla requesting that the robotaxi launch be postponed until 1 September.

That date coincides with the introduction of a new state law governing autonomous vehicles.

In the letter addressed to Tesla’s field quality director, the lawmakers cited public safety and regulatory compliance as their primary concerns.

They asked the company to provide detailed documentation demonstrating how it plans to adhere to the new legal requirements, should it proceed with the planned launch.

Tesla has not formally responded to the letter, but the company’s track record of pushing forward despite resistance suggests the launch will likely go ahead as planned.

Public protests have already taken place in Austin, and further demonstrations could coincide with the debut of the service on 22 June.

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Palantir co-founder and renowned defense investor Joe Lonsdale weighed in on escalating tensions between Israel and Iran in a CNBC interview on Friday.

According to Lonsdale, Tehran’s pursuit of nuclear weapons demands decisive US action, regardless of political hesitation or past intervention fatigue.

Lonsdale refrained from speculating on intentions, referring to President Trump’s recent remarks that the United States could launch a military action in Iran within the next two weeks.

However, he emphasized the severity of the threat, saying, “If people chant death to America for years, kill American soldiers, and then try to build a nuke, you should make it clear they can’t have a nuke.”

Palantir’s co-founder dismissed the idea that the entire population of Iran (92 million people) supports the regime’s ambitions, pointing instead to the country’s rich history and its people’s natural alignment with Western values.

“The Personal people, the Kurds – these are modern, intelligent communities who have suffered under a theocratic regime,” Lonsdale told CNBC this morning, adding, “Iran could be a prosperous republic if not run by crazy people”.

Palantir co-founder urges military action against Iran

Joe Lonsdale expressed confidence in America’s so-called bunker-buster bombs in the CNBC interview on Friday.

“I’m told they work – there’s no reason they shouldn’t be able to do it – and you can always hit things multiple times just to be sure,” he noted.

Lonsdale backed the idea of a preemptive strike to eliminate nuclear infrastructure but clarified that he respects the administration’s stated goal of stopping nuclear proliferation without necessarily pursuing regime change.

That said, Palantir’s co-founder acknowledged that toppling Iran’s regime could unlock long-term stability in the region.

You take out the mullahs, you remove an entire axis of terror – Hamas, Hezbollah, Houthis – all funded and fuelled by this regime. The Abraham Accords could flourish, and peace becomes more viable, he said.

Lonsdale criticizes ‘woke right’ for view on Iran

Joe Lonsdale was unsparing in his criticism of past Democratic administrations as well as factions within the current Republican government.

He rebuked President Obama for avoiding the term “Islamic extremism”, accusing him of playing balance-of-power politics that allowed radicals to thrive.

At the same time, he slammed elements of what he called the “new woke right” – including figures like Steve Bannon and Tucker Carlson – for opposing action against Iran due to war fatigue.

Being against more boots on the ground doesn’t mean you allow maniacs to get nukes – it’s childish stubbornness, being so angry about Iraq that they can’t see this is different.

Palantir’s co-founder also pointed to misinformation campaigns, alleging many anti-interventionist voices online are fake accounts from Islamist networks masquerading as conservatives.

The rising geopolitical tensions, particularly in the Middle East, are helping PLTR shares remain at record levels of about $140.

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Tesla has signed its first agreement to build a utility-scale battery storage facility in China, marking a major step in the company’s global energy ambitions despite ongoing trade tensions between Washington and Beijing.

The announcement, shared by Tesla on the Chinese social media platform Weibo, revealed that the new project would become China’s largest grid-side energy storage installation upon completion.

$556 million project backed by local government and Chinese financier

The project, valued at 4 billion yuan (approximately $556 million), involves a partnership between Tesla, the Shanghai municipal government, and China Kangfu International Leasing, according to a report from Chinese media outlet Yicai, cited by Reuters

Tesla stated that its Shanghai battery plant has already produced over 100 Megapacks during the first quarter of 2025.

Each Megapack — a large-scale lithium-ion battery designed for utility use — is capable of storing up to 1 megawatt of power for four hours.In the U.S., a single Megapack is priced just under $1 million, though pricing for the Chinese market has not been disclosed.

Addressing power grid stability and urban energy demand

Tesla emphasized that the new facility will act as a “smart regulator” for urban electricity needs.

Utility-scale battery systems like Megapacks are used to stabilize the grid by storing excess energy from intermittent renewable sources such as wind and solar, then releasing it when demand peaks.

“The grid-side energy storage power station is a ‘smart regulator’ for urban electricity,” Tesla said in its Weibo post.

“It can flexibly adjust grid resources, effectively solve the pressure of urban power supply, and ensure the safe, stable, and efficient electricity demand of the city.”

Competing in a crowded market

Tesla’s expansion into China’s grid storage sector places it in direct competition with major domestic players such as CATL and BYD, both of which have a significant presence in the global battery industry.

CATL, which controls roughly 40% of the global battery market, is also reportedly supplying battery cells and packs for Tesla’s Megapacks, according to Reuters.

While competition is fierce, the Chinese market remains an important growth opportunity for Tesla, especially given Beijing’s push for cleaner energy solutions.

In 2024, China announced plans to add nearly 5 gigawatts of battery-powered capacity by the end of 2025, aiming for a total of 40 gigawatts.

Energy storage: a growing global trend

Tesla’s Shanghai facility also serves global demand, with Megapack units exported to both Europe and Asia.

The deal aligns with a broader surge in utility-scale battery deployment worldwide.

According to the International Energy Agency (IEA), global battery storage capacity grew by 42 gigawatts in 2023, nearly doubling the increase recorded in the previous year.

Despite past political headwinds, Tesla’s latest project underscores the company’s commitment to deepening its foothold in China’s fast-expanding clean energy sector, a move that may also carry diplomatic significance amid complex U.S.-China relations.

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