Tesla Stock Gains as Cathie Wood Buys Shares and Musk Pushes xAI Investment

Tesla Inc. shares are forming a new technical base at $315.54, with Ark Invest's Cathie Wood purchasing nearly 60,000 shares, signaling strong institutional confidence. The stock's traditional buy point now stands at $367.71, suggesting potential upside momentum.

Elon Musk has proposed a Tesla shareholder vote on investing in his AI startup xAI, though he ruled out a full merger. SpaceX has already committed $2 billion to xAI, which recently launched its upgraded Grok 4 chatbot. Market speculation grows as Q2 earnings approach on July 23, with potential reveals of new products like the Roadster or Optimus.

Tesla is simultaneously expanding its Model Y robotaxi testing in Austin, with plans for a Bay Area rollout pending regulatory approval. The company's multifaceted strategy—spanning EVs, AI, and autonomous transport—continues to drive investor interest amid evolving market conditions.