Hey everybody. Welcome back to the Elon Musk Podcast. This is a show where we discuss the critical crossroads that shape SpaceX, Tesla X, The Boring Company, and Neuralink. I'm your host, Will Walden. Tesla's stock surged over 6% on Monday morning, extended gains that have driven the electric vehicle manufacturer shares up
by about 19% in the last month. Now, the reasons behind Tesla's continuing stock climb are multifaceted, with one notable speculation linking the increase to Elon Musk's recent decision to follow Uber founder on social media. Clinic, who left Uber in 2017, is known for his role in developing a successful ride sharing platform, which aligns with Tesla's long term ambitions for its robo taxi platform.
Now, Tesla plans to unveil its robotaxi on August 8th of 2024, and Musk's connection to Kalanick has sparked theories that Tesla might benefit from the insights or involvement with the platform, although this remains very speculative. Now, beyond this, other factors are contributing to Tesla stock gains. Notably, the Chinese electric vehicle market has shown substantial year over year growth, bolstering investor confidence in Tesla's
performance. Chinese EV manufacturer BYD, which often matches Tesla's delivery figures, reported 426,000 deliveries in the second quarter. Now, this has led to speculation that Tesla's Q2 delivery numbers might be similar. Our analysts are divided on Tesla's quarterly performance. While some expect a decrease from quarter 2/20/23, others anticipate an increase from quarter 1/20/24, reflecting mixed settlement on Wall Street.
And the consensus among analysts is that Tesla's Q2 deliveries will reach around 438,019 vehicles. Now this figure falls short of the 1,000,000 vehicles some had hoped for in the first half of the year. And Tesla's growth trajectory is poised between its current production capabilities and the potential of its next generation platform and robotaxi, which could drive future growth.
The company's ability to meet its projected timelines for these initiatives is very crucial as delays have been a challenge for Tesla in the past. And also in related news, Elon Musk has been promoting the development of AI chatbot Grok, which is expected to train on a significant number of NVIDIA each 100 GPUs. And Musk announced that Grok 3 would be something special after training on 100,000 NVIDIA each. 100 GPUs each value between 30,000 and 40,000 dollars.
While it's unclear how many of these GP us were purchased outright by Musk's companies, there are possibilities of renting GPU compute from cloud service providers. Reports indicate the Musk's XAI startup was negotiating with Oracle to spend $10 billion over multiple years on cloud servers, adding to the complexity of the GPU strategy.
And Musk's companies have a history of acquiring NVIDIA H1 hundreds, with Tesla reportedly diverting $500 million shipment of these chips to X, formerly known as Twitter. Now, the training of Grok 3 on 100,000 GPUs is a significant increase from the 20,000 GPUs used for Grok 2. And that's the scale of XAI. Grok One and Grok 1.5 have been released, with Grok 2 expected in August, followed by Grok 3 by the end of the year, according to Musk.
And the intense competition of AI talent is evident as companies like Meta are also heavily invested in Invidia 100 GPUs. Now. Meta plans to purchase around 35 or 350,000 H 100 GPUs by the end of 2024, indicating fierce rivalry in the AI development territory. And the high demand for H100 GPUs has led to aggressive recruiting tactics as illustrated by EI startup Perplexity CEO who noted the challenge of hiring top talent from Meta.
And also another development, Elon Musk praised Invidious CEO Jensen Wong for their leadership style and his hands on approach of engagement with employees. And Huang Co founded NVIDIA at a Denny's restaurant in San Jose in 1993 and has guided the company to its current status as a leading AI chip manufacturer. And their personal story from dishwasher to CEO reflects his commitment to hard work and his philosophy that no task is beneath him, as highlighted in his recent interviews.
Now, Nvidia's impressive performance with year to date return of about 151% places it at the forefront of the magnificent 7A group of influential tech companies. And the stockpiling of AI chips in the competition to secure top AI talent is high stakes right now. AI development race is happening and Tesla and Meta are pushing the boundaries of that technology. Hey, thank you so much for listening today. I really do appreciate your support.
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