Cathie Wood's 2 Biggest Positions Are Both Elon Musk Companies. Together They Are 16% of the Fund.

Tesla (TSLA) reported that its supervised Full Self-Driving (FSD) technology had 4.1 times fewer collisions than manually driven Teslas in five European countries, based on 100 million km of driving data. The company is lobbying for EU-wide approval, with some countries already granting provisional approval. Tesla's Q2 revenue reached $28.2 billion, up 26% YoY, and FSD users grew to 1.48 million. However, operating income fell 57%, and regulatory and competitive challenges remain.

Elon Musk announced SpaceX (SPCX) will launch AI satellites powered by NVIDIA (NVDA) chips in Q4 2027, earlier than previously stated. SpaceX has secured deals with Anthropic and Google for orbital compute capacity. JPMorgan projects significant long-term revenue potential, but risks include Musk's history of missed timelines and undisclosed economics.

Tesla launched its Cybercab, an autonomous vehicle without steering wheels or pedals, in Austin. Public rides began Friday, adding to its Robotaxi fleet. Competitors like Zoox, Uber, Wayve, and Waymo are expanding their autonomous services, with Waymo leading in U.S. city presence. Tesla's strategy relies on vertical integration and camera-only self-driving tech, but its success is uncertain.

SpaceX, led by Elon Musk, aims to extend human presence beyond Earth. The company's revenue doubled last quarter, but it reported a $541M net loss. Starlink, its satellite network, is the only profitable segment. SpaceX plans to use profits from Starlink and its AI business, which has a $26.5T addressable market, to fund space exploration. According to the company, this strategy will help it scale space-based endeavors.

Tesla launched its Cybercab robotaxis in Austin, Texas, despite lacking traditional controls. The NHTSA opened an audit to assess compliance with federal safety standards. Experts debate regulatory hurdles and Tesla's potential to push boundaries. Tesla claims its Full Self-Driving software is safer than human drivers, but critics question its reliability. The company may self-certify the Cybercab, bypassing exemption limits.

NVIDIA (NVDA) agreed to acquire Hugging Face for $12.93B. Ambarella (AMBA), Asana (ASAN), Samsara (IOT), and others reported earnings beats. Dell (DELL) and Salesforce (CRM) saw strong AI-driven demand. NIO (NIO) missed revenue estimates. TSMC (TSM) raised chip equipment spending. Meta (META) opposed AI regulation. Broadcom (AVGO) and Microsoft (MSFT) expanded AI chip and reporting initiatives.