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- Elon Musk Gains $26B After Tesla Surge
Elon Musk Gains $26B After Tesla Surge
Nvidia Partners with Ambani to Build India’s AI Hub and Wall Street Bets on Trump Win
Another day has arrived, folks! Yesterday was truly something else—Tesla closed at 260.48, skyrocketing with a whopping 21.92% gain in a single day. Talk about a market shake-up! Today we will cover:
-Elon Musk Gains $26B After Tesla Surge
-Nvidia Partners with Ambani to Build India’s AI Hub
-Wall Street Bets on Trump Win
-Dutch Seek Feedback on Crypto Tax

ELON MUSK
Elon Musk Gains $26B After Tesla Surge
Elon Musk saw his net worth skyrocket by $26 billion after Tesla experienced its best day in the stock market since 2013. Tesla shares jumped 22% on Thursday following an earnings beat and an optimistic projection for 2025 growth, pushing Musk's fortune to nearly $270 billion, according to Forbes. This increase places him over $50 billion ahead of Larry Ellison, a former Tesla board member and the largest shareholder in Oracle.
Musk controls nearly 13% of Tesla’s shares, which form a significant portion of his wealth. This latest stock rally comes after a better-than-expected earnings report, with Musk projecting 20% to 30% growth in Tesla’s vehicle deliveries for 2025.
During the earnings call, Musk emphasized Tesla's autonomous future, promoting a ride-hailing service that he aims to launch in Texas and California by next year. However, despite Tesla’s advancements, it faces competition from companies like Alphabet's Waymo, which already offers commercial driverless services.
Tesla's earnings report showed profits driven by regulatory credits and revenue from its Full Self-Driving (FSD) system, but investors are still watching closely, given the company’s past delays in delivering promised products like the Cybertruck and refreshed Roadster.
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NVIDIA
Nvidia Partners with Ambani to Build India’s AI Hub
Nvidia CEO Jensen Huang has partnered with Asia’s richest man, Mukesh Ambani, to develop AI infrastructure in India. At Nvidia’s AI summit in Mumbai, the two leaders announced that Ambani’s Reliance Industries will build a major data center in Gujarat, utilizing Nvidia’s latest Blackwell chips. Nvidia has also partnered with Indian conglomerates like Infosys and Tata Consultancy Services to drive AI adoption in India’s key sectors, such as agriculture, education, and manufacturing.
Huang emphasized India’s potential as a future AI exporter, capitalizing on its software expertise. The collaboration aims to position India as a leading AI hub, rivaling global tech markets. Nvidia also announced initiatives with Tech Mahindra to develop a Hindi language model and with Flipkart to enhance its customer-service systems.
As US-China tensions rise, India offers an alternative growth market for Nvidia, which has a significant presence in the country, with over 4,000 engineers across multiple cities. Ambani’s Reliance is building JioBrain, a suite of AI tools to accelerate this transformation.
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ELECTION
Wall Street Bets on Trump Win
As the Presidential Election remains tight in polls, Wall Street appears to be pricing in a Trump victory. Investors are anticipating Trump’s protectionist economic policies, which could include broad tariffs impacting the U.S. and global markets. Jose Torres, senior economist at Interactive Brokers, noted that investors are leaning towards a Trump win based on sentiment and discussions within the financial community.
European stocks are already lagging, with analysts predicting negative impacts from potential Trump tariffs. Barclays strategist Emmanuel Cau pointed out that entire sectors, like tech and autos, could see earnings hits in a trade war scenario. Additionally, Bank of America’s projections show Trump’s policies could drive up inflation, with inflation compensation premiums rising alongside Trump’s improving odds in betting markets. Investors expect Trump’s proposed tariffs to add 70-80 basis points to inflation if he wins.
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CRYPTO
Dutch Seek Feedback on Crypto Tax
The Dutch government is seeking public feedback on new crypto tax reporting laws aimed at increasing transparency and preventing tax evasion. The proposed legislation would require crypto service providers, like exchanges, to collect and share user data with the tax authority, Belastingdienst. This aligns with the EU’s DAC8 regulations, allowing data sharing between EU countries to ensure accurate crypto tax reporting.
According to the Ministry of Finance, the new rules won’t change existing obligations for crypto owners, who must already report their holdings. Public comments are due by November 21, and the government plans to present the bill in 2025.
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Meme of the day

Word of the day
Garnish
To garnish food or drink is to add decorative and tasty touches to it, such as a spiral of lemon peel.
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