Oracle rises after Wedbush’s Dan Ives calls the stock a buy with 25% upside

Oracle extended its premarket gains Friday after Wedbush Securities’ Dan Ives initiated coverage with an “outperform” rating and a $225 price target — about 25% upside to its pre-initiation level — calling the enterprise software and cloud infrastructure company a “foundational infrastructure provider for the AI revolution.”

Ives argues investors are misreading Oracle’s heavy capital spending and negative free cash flow as risky, despite being backed by a massive $553 billion backlog of contracted demand. He says the company’s “secret sauce” is a two-part strategy: building high-performance cloud infrastructure for AI workloads while connecting those models directly to companies’ own data.

“We believe Oracle is in the early innings of a significant repositioning as it executes on this generational opportunity,” Ives wrote.

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Rani Molla57m

Tesla Cybercab production has begun

On Tesla’s earnings call earlier this week, CEO Elon Musk said production of the company’s steering-wheel-less Cybercab had begun. Since then, Musk and Tesla have posted videos showing the gold two-seater rolling off the line at its Texas Gigafactory and onto the road.

Cybercab has started production pic.twitter.com/MAeswanf96
— Elon Musk (@elonmusk) April 24, 2026

The Cybercab — meant both for consumers and Tesla’s Robotaxi network — is widely seen as central to the company’s future. “The future of the company is fundamentally based on large-scale autonomous cars and large scale and large volume, vast numbers of autonomous humanoid robots,” Musk said last year.

Whether these cars actually make it to consumers is another question. For now, regulations generally require steering wheels, and Tesla still has to prove the vehicles can reliably drive themselves.

In formation pic.twitter.com/7qA0SluL8J
— Tesla Robotaxi (@robotaxi) April 24, 2026

On the earnings call, Musk said production would be “very slow” but would ramp up and go “kind of exponential towards the end of the year and certainly next year.”

Rani Molla1h

Meta signs deal to use Amazon Graviton chips

Meta said it will deploy “tens of millions” of Amazon Web Services Graviton CPU cores to power so-called “agentic” AI systems — tools that can reason, plan, and act on their own. The move makes Meta one of the largest customers of Amazon’s in-house chips.

The deal also underscores a broader shift in AI infrastructure, as companies move beyond Nvidia GPUs and use different chips for different tasks.

Meta, which is working on its own custom inference chips, also has chip deals with Advanced Micro Devices and Nvidia.

Meta Partners With AWS on Graviton Chips to Power Agentic AI

The deal also underscores a broader shift in AI infrastructure, as companies move beyond Nvidia GPUs and use different chips for different tasks.

Meta, which is working on its own custom inference chips, also has chip deals with Advanced Micro Devices and Nvidia.

Jon Keegan19h

OpenAI releases ChatGPT 5.5 — more complex “knowledge work” for fewer tokens

Right on the heels of Anthropic’s Claude Opus 4.7, OpenAI has also released the next incremental improvement to its flagship frontier model.

OpenAI says that ChatGPT 5.5 performs better on complex coding and data analysis tasks, and more carefully follows instructions, even when the instructions are vague.

Importantly, this gain in capability does not mean developers and companies have to shell out for more tokens (as is the case with Claude Opus 4.7) — the model uses fewer tokens that ChatGPT 5.4.

OpenAI says the new model has strengthened safeguards to ensure that the model’s strong cybersecurity capabilities aren’t used for malicious attacks.

Introducing GPT-5.5

Importantly, this gain in capability does not mean developers and companies have to shell out for more tokens (as is the case with Claude Opus 4.7) — the model uses fewer tokens that ChatGPT 5.4.

OpenAI says the new model has strengthened safeguards to ensure that the model’s strong cybersecurity capabilities aren’t used for malicious attacks.

Rani Molla

BUS-GATE

20h

Tesla tries to throw Waymo under the bus

Elon Musk said a Waymo hit a bus. Waymo says that’s not what happened, and there are no NHTSA crash reports backing Musk up.

Rani Molla

4/23/26

2 truths and a lie from Tesla’s earnings call

Elon Musk was a little more straightforward on this earnings call, but is still Musk.

Tesla wants to increase the number of employees at its German plant

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