Tesla Optimus Rival Agility Robotics Begins Trading After SPAC Merger

SpaceX (SPCX) and Tesla (TSLA) shares fell about 9% after Democrats gained control of the House and Senate, raising regulatory concerns for data center projects and potential mergers. Analysts note a tougher path for a SpaceX/Tesla merger and slower data center growth, impacting AI compute revenue.

SpaceX and Tesla shares fell 6% and 9% respectively on Thursday, extending declines after Democrats' midterm wins raised regulatory concerns. The tech sector also declined, while oil prices rebounded with Brent crude up 3% to $97 per barrel.

Tesla's Full Self-Driving software, now renamed Tesla Assisted Driving, received approval in the Netherlands after adjustments, including a reduced speed limit margin from 50% to 10%. The update was pushed via over-the-air software. EU member states will vote on bloc-wide approval in December, with varying opinions on speed margins.

Elon Musk's net worth dropped $33 billion on Wednesday due to declines in Tesla and SpaceX shares post-midterm elections. According to Bloomberg's Billionaires Index, Musk remains the richest person with $865 billion, ahead of Jeff Bezos by $490 billion. Democratic wins in Texas may impact Musk's AI and chip factory plans in the state.

Apple (AAPL) reported fiscal 2026 capex down 28.9% to $9.04B, with Q3 revenue up 11.7% to $114.48B. Tesla (TSLA) cut 2026 capex guidance to ~$20B, with flat Q3 revenue at $28.05B. Apple's cash flow is more stable due to subscriptions, while Tesla's spending is higher for future growth. Apple's shares are up 28.92% YTD, Tesla down 14.35%.

Tesla has launched its Cybercab fleet in metro Detroit for testing, featuring a distinctive design and autonomous capabilities. The vehicles are currently being tested with human drivers and have been spotted on major roads. Tesla plans to expand the service, but it faces a federal safety investigation. The Cybercab is part of Tesla's Robotaxi service, which is currently only open to the public in Austin, Texas.