“Having a NASA Administrator who knows literally ZERO about rockets & spacecraft undermines the American space program and endangers our astronauts…” – Elon Musk (@elonmusk)
■ TESLA ($438.97, -0.82%):
Revenue/Profit/Income:
-
Total Revenues: $28.095B (+12% YoY)
-
Automotive Revenues: $21.205B (+6% YoY)
-
Services & Other Revenue: $3.475B (+25% YoY)
-
GAAP Net Income: $1.373B (-37% YoY)
-
Non-GAAP Net Income: $1.770B (-29% YoY)
-
GAAP Diluted EPS: $0.39 (-37% YoY)
-
Non-GAAP Diluted EPS: $0.50 (-31% YoY)
-
Operating Cash Flow: $6.238B (flat YoY)
-
Gross Profit: $5.054B (+1% YoY)
-
GAAP Gross Margin: 18.0% (-185 bps YoY)
-
Operating Income: $1.624B (-40% YoY)
-
Operating Margin: 5.8% (-501 bps YoY)
-
Adjusted EBITDA: $4.227B (- 9% YoY)
-
Adjusted EBITDA Margin: 15.0% (-348 bps YoY)
-
Capital Expenditures: $2.248B (-36% YoY)
-
Free Cash Flow: $3.990B (+46% YoY)
-
Cash & Investments: $41.647B (+24% YoY)
Deliveries:
-
Total Vehicle Deliveries: 497,099 units (+7% YoY)
-
Model 3/Y Deliveries: 481,166 units (+9% YoY)
-
Other Models Deliveries: 15,933 units (-30% YoY)
Production:
-
Total Production: 447,450 units (- 5% YoY)
-
Model 3/Y Production: 435,826 units (- 2% YoY)
-
Other Models Production: 11,624 units (-56% YoY)
-
Global Vehicle Inventory (Days of Supply): 10 days (-47% YoY)
Energy:
-
Energy Storage Deployments: 12.5 GWh (+81% YoY)
-
Energy Generation & Storage Revenue: $3.415B (+ 44% YoY)
-
Supercharger Stations: 7,753 (+16% YoY)
-
Supercharger Connectors: 73,817 (+18% YoY)
– Tesla has begun production of its new residential solar panels at Giga New York, with shipments to customers scheduled for Q1 2026. No images provided yet, we were told it is aesthetically pleasing.
Elon says Samsung and TSMC will make the AI5 chips. He also said the AI5 chip by some metrics will be 40x better than AI4!
Update to AI3 FSD to a V14 Lite expected in Q2 of next year.
– Tesla is giving free 30 Windshield and Tire protection on new vehicles. TESBROS (@teslabros) posted the above email showing their new Model Y is covered for chips and minor cracks plus tire damage from typical road hazards.
– Tesla’s exclusive Day of the Dead on the Skypad – Tesla Mezcal Night party at the Tesla Diner will occur on November 1st starting at 5 p.m. PT. Tickets costs $140 per person and is limited to Tesla owners aged 21+. This is invite only, so look for an email. You purchase tickets at eventbrite and it includes three drinks. Again, this is an invitation-only event. It is being held upstairs on the Skypad, and features a live DJ, full dinner menu with tamales from Tamales by Elena, beverages including Tesla Mezcal, face painting, movies, and additional activities. Good luck on getting the invite. H/T Tim Hoyer (@TeslaTim2).
– Tesla opening a store in Morocco is not new. I reported back in June that Tesla officially entered the Moroccan market by opening a local subsidiary based in Casablanca that would manage the import, sale, and maintenance of the vehicles, along with vehicle replacement services. Tesla created the local subsidiary on May 27th, registering it as a limited liability company. With a starting capital of MAD 27.5 million ($2.75 million), Tesla’s Moroccan subsidiary is based in the Crystal Tower at Casablanca Marina. The subsidiary was set up by two Dutch-based entities, Tesla International B.V., which oversees operations across several continents, and Tesla Motors Netherlands B.V. What is new, is that they have finally opened the role for a Country Sales & Delivery Leader.
– Today, and on every Wednesday, Klarissa Garcia, Tesla Lithium Refinery Sr. Site Specialist, and the women of the Operations Team wear pink for Breast Cancer Awareness Month.
– Tesla has relaunched the upgraded Model S and X in left-hand drive European markets.
– Giga Shanghai has posted a new video on their Weibo account showing Model YLs being loaded in the Outbound Lot and heading to Delivery Centers.
– Tesla is recalling 12,963 vehicles in the U.S. due to a battery pack contactor defect that could cause sudden loss of drive power. This includes 5,038 2025 Model 3s built between March 8th to August 12th, 2025, and 7,925 2026 Model Ys built between March 13th to August 15th, 2025. Tesla Service will replace the contactor free of charge.
– Today, Erandi Sombra, Tesla Key Account Manager, met with Diana León, Head of Energy at Mexico’s Ministry of Economy. Erandi expressed gratification at the current Mexican administration’s commitment to a sustainable future for Mexico, while Diana described a fruitful meeting with to advance the strategic objectives of the Mexico initiative.
– Toyota EV owners now have access to Tesla’s NACS Supercharger network.
FLYOVERS (flight links in sources section):
-
Giga Texas: Joe Tegtmeyer (@JoeTegtmeyer), 22nd of October, ‘25. Lots of progress at Cortex 2 and the new Switch Yard. Cybercabs at the crash testing site.
– At UP.Summit 2025, Tesla’s Franz von Holzhausen and SpaceX’s Kiko Dontchev described elite teams as small groups of adaptable, ego-low talent hired via failure stories, with alumni networks and Musk’s failure-celebrating culture like the post-Falcon 9 “Merry Christmas” note.
They advocated first principles—breaking problems to fundamentals—for innovations like Tesla’s tent origins at SpaceX’s site. The five-step “algorithm”:
-
(1) question requirements
-
(2) delete
-
(3) simplify
-
(4) accelerate
-
(5) automate last
Full talk is in the sources section.
■ SPACEX:
– Today’s first flight, launch 138 of Falcon 9 Starlink 11-5, took place from Space Launch Complex 4E (SLC-4E) at Vandenberg Space Force Base, California. This was the 21st flight for first stage booster B1075. It previously launched SDA-0A, SARah-2, Transporter-11, and 16 Starlink missions. The booster landed on drone ship Of Course I Still Love You in the Pacific Ocean. 28 Starlinks were deployed. This launch set a new turnaround record of 2d 18h 52min 20s, beating the previous record by 2 hours 46 minutes 1 second.
– The final section for Super Heavy Booster 18 (B18), designated F3:4 (the third forward tank section), rolled out of the Starfactory at Starbase. This ring will thereby complete the initial V3 booster stacking process. Pic via @LabPadre‘s live feed.
– More steel columns were erected to day for the Giga Bay. You can see the columns and B18’s last ring section. Pic by Travis Sorensen (@HardcoreElectr1).
– Carlos (@cnunezimages), the Starbase Surfer, gives a great view of SpaceX removing the tank far berm at Pad 1.
– Tom (@Cygnusx112) got this great shot of SpaceX’s Roberts Road Giga Bay at Kennedy Space Center, Florida. 2nd level has started.
– Cards Against Humanity settled its 2024 $15 million lawsuit against SpaceX for “trespassing” on a Texas border plot CAH bought in 2017. SpaceX used the site for construction materials. Undisclosed settlement terms led SpaceX to remove equipment, restoring the debris-free site without walls.
Starbase City Commission Meeting (Located at The Hub, 39046 LBJ Blvd, Unit 2, Brownsville, TX 78521):
-
City Commission Regular Meeting, November 19, 2025 7:00 PM
-
City Commission Regular Meeting, December 17, 2025 7:00 PM
Countdown to 180 (133 – Falcon 9, 0 – Falcon Heavy, and 5 – Starship):
-
Launch 139! Saturday, 25th of October, at 9:30 p.m. ET, Falcon 9 SpainSat NG II will launch from Space Launch Complex 40 (SLC-40) at Cape Canaveral Space Force Station, Florida. Booster B1076 will be expended to reach a higher trajectory. This is the second of two new-generation satellites built by Airbus to provide secure communications to the Spanish government, its allies, and various international organizations.
-
Launch 140! Saturday, 25th of October, at 7:00 a.m. PT, Falcon 9 Starlink 11-12 will launch from Space Launch Complex 4E (SLC-4E) at Vandenberg Space Force Base, California. The booster will land on drone ship Of Course I Still Love You in the Pacific Ocean.
-
Launch 141! Saturday, 25th of October, at 10:27 a.m. ET, Falcon 9 Starlink 10-21 will launch from Space Launch Complex 40 (SLC-40) at Cape Canaveral Space Force Station, Florida. The booster will land on a drone ship in the Atlantic Ocean.
-
Launch 142! Monday, 27th of October, at 2:12 p.m. PT, Falcon 9 Starlink 11-21 will launch from Space Launch Complex 4E (SLC-4E) at Vandenberg Space Force Base, California. The booster will land on drone ship Of Course I Still Love You in the Pacific Ocean.
-
Launch 143! Tuesday, 28th of October, at 9:14 a.m. ET, Falcon 9 Starlink 10-37 will launch from Space Launch Complex 40 (SLC-40) at Cape Canaveral Space Force Station, Florida. The booster will land on a drone ship in the Atlantic Ocean.
-
Launch 143! Thursday, 30th of October, at 1:06 p.m. PT, Falcon 9 Starlink 11-23 will launch from Space Launch Complex 4E (SLC-4E) at Vandenberg Space Force Base, California. The booster will land on drone ship Of Course I Still Love You in the Pacific Ocean.
■ THE BORING COMPANY:
– The Boring Company’s Madison Horne (@Madison38821), TBC HR Operations Lead, and Brianna Duron, Office Coordinator, represented the company at Bastrop ISD’s Career Options Event at Jerry Fay Wilhelm Center for the Performing Arts. They presented to undecided students from Bastrop High School and Cedar Creek High School, outlining the company’s mission to revolutionize transportation, career paths in engineering, construction, and technology in Central Texas. The event promotes non-traditional college pathways and community ties between education and jobs.
– New images from the Music City LOOP via the Nashville Business Journal.
■ NEURALINK: N/A…
■ STARLINK:
– Myanmar’s military raided KK Park scam compound in Myawaddy Township yesterday, arresting 2,198 people (445 women, 1,645 men, 98 guards) and freeing 3,500 trafficked victims from Chinese syndicates running romance/investment scams, gambling, and laundering in 250+ buildings. MSM headlines are focused on only one fact, 30 confiscated Starlink terminals were apart of the raid. Terminal use for such operations is not good, but let put things into perspective.
Lauren Dreyer (@LaurenDreyer), SpaceX’s VP of Starlink Business Operations, recently noted that SpaceX complies with local laws in 150+ Starlink markets, actively monitoring for Acceptable Use Policy and legal violations, and collaborating with global law enforcement on rare misuse cases. In Myanmar alone, SpaceX has proactively disabled over 2,500 Starlink kits near suspected scam centers to prevent abuse while sustaining service as a force for good in connecting unconnected users.
– Flexjet Europe announced it has integrated Starlink into its fleet last few months. The entire Large Cabin Fleet is fully equipped, as well as Super-Midsize Jets—including the European Embraer Praetor 600.
– Xplore’s satellite internet service is ending for a small portion of northern Ontario customers in late November or early December due to a partner shutdown. This has prompted a surge in Starlink customers. Northern Internet Solutions reports increased calls from affected users; in Worthington near Sudbury, customer Cathy Prentice’s December service loss led her to Starlink, which she finds slightly more expensive but effective.
– Today, Paratus Group launched Paratus Rwanda to provide and install Starlink for businesses across Rwanda, targeting retail, financial services, government, NGOs, agriculture, and tourism in remote/underserved areas and urban backup needs. Paratus operates in 16 African countries.
■ 𝕏:
– Lefty.io hosted an intimate post-Fashion Weeks breakfast today with 10 fashion houses, offering a sneak peek of their SS26 report on X in collaboration with @XFashion. The highlighted nearly 48 million views from live streams. Cris Nulli (@crisnulli), X’s Italy Market Lead, praised the insights from lefty_io and the Paris event organized by X’s Global Luxury Strategy Leads, Florence Best (@BabyModeuse) and Aurélie Barbay (@aurelie_barbay). An open webinar to explore the full report is scheduled for November 5th HERE.
– Per X’s Head of Product, Nikita Bier (@nikitabier), “I don’t think there is a better focus group on Earth than X. Just suggest an idea for a feature and get every perspective and edge-case in 60 minutes. It takes half the risk off the table before it goes to engineering.”
■ xAI:
– Yesterday’s xAI hosted job fair at the Crosstown Concourse in Memphis.
– The City of Memphis has collected $3.2 million in taxes from xAI—Elon Musk’s AI company operating the world’s largest supercomputer facility—before the payment deadline, forming a special revenue fund for reinvestment. The funds will target neighborhoods most affected by xAI’s construction and operations, with resident surveys currently gathering input on spending priorities; results will shape a proposal for full city council approval, potentially including community projects for equitable impact. Involved parties include Mayor Young’s administration, which set up the fund via a prior ordinance; the Greater Memphis Workforce Development Board, led by Melody Freemon; and the American Job Center.
– CERAFILTEC has completed and shipped the last delivery of its advanced ceramic ultrafiltration membranes from Saarbrücken, Germany, to Memphis, Tennessee, for xAI’s $80 million Water Recycling Ceramic Membrane Bioreactor (MBR); the worlds largest. Led by xAI wastewater engineer Mark Carroll, the MBR exceeds data center needs, supplying surplus treated water to local industries to conserve the Memphis Sands Aquifer and protect regional drinking water supplies. Per Dorota Zoldosova, Global Head of MarCom at CERAFILTEC, “Safe travels! From Saarbrucken to Memphis!”
– Grok-4 Fast Reasoning achieved 48.5% on ARC-AGI-1 semi-private eval at $0.03/task and 5.3% on ARC-AGI-2 at $0.06/task, outperforming all models in performance efficiency on the ARC-AGI-2 leaderboard with the highest score-to-cost ratio. Compared to Grok-4 Thinking (44.4% on ARC-AGI-1 at higher cost; 9.9% on ARC-AGI-2), Fast Reasoning delivers superior intelligence density at lower latency and expense, surpassing Claude Opus 4 Thinking (8.6% on ARC-AGI-2 at $1/task), GPT-5 Pro (9.9% at $10/task), o3-Pro High (9.9% at $100/task), and Tiny Recursion Model (5.3% at $0.01/task but lower absolute score).
On ARC-AGI-1 leaderboard, Grok-4 Fast Reasoning scores 48.5% at $0.03/task, trailing only Grok-4 Thinking (70% at $10/task) and GPT-5 Pro Medium (60% at $1/task), while beating Claude Opus 4 (40% at $10/task), o3-Pro Medium (50% at $1/task), and Hierarchical Reasoning Model (30% at $0.10/task). xAI’s Colossus supercomputer enables this efficiency, verified by ARC Prize Foundation on unseen datasets.
Per Elon, “Definitely a lot of room to improve with the second test!“
– MACROHARD from space! xAI’s Colossus 2. Per Elon “As expected, any given AI company will be the opposite of its name:
-
OpenAI is closed
-
Stability is unstable
-
MidJourney isn’t mid
-
Anthropic is misanthropic
-
Claude is pure evil.”
■ ELON NEWS:
– Back in February, the Musk Foundation donated $1 million to the Expandere Conscientiae Lumen (ECL) “Expand the Light of Consciousness“ project by Ancient Rome Live and the American Institute for Roman Culture (AIRC). This donation is for funding preservation, enhancement, and digitization of Rome’s archaeological sites through artifact digitization, immersive platforms, sustainable maintenance, and urban landscape preservation. On October 24th, twelve winners of the first edition of the project dedicated to the Eternal City will be announced at the Sala del Carroccio on Capitol Hill. This event will feature a speech by Elon and remarks by AIRC director Darius Arya.
– Per Elon, “AI and robots will replace all jobs. Working will be optional, like growing your own vegetables, instead of buying them from the store.”
Thanks for reading! As always, if you have any questions, feedback, or would like point out an error in the reporting, please do so in the comments.
■ WAYS TO SUPPORT THE CHRONICLE:
For October, and exclusively for X subscribers, I am giving away The Boring Company “Beat the Snail” Hat ($40)! I picked it up at the Boring Bodega in Bastrop, Texas. Like always, one random subscriber’s name will be drawn at the end of the month. Join the likes of Elon himself and SUBSCRIBE HERE!
For the remainder of the Holiday Season, you can get the ELON CHRON Substack subscription at 50% off for an entire year! That’s right, 50% off for 12 months! This discount ends New Years Eve at 11:59 pm.
And lastly, if you are interested in getting a Tesla or Starlink, switching to T-Mobile for T-Satellite, or investing in the ARK Venture Fund, checkout my referral page. REFERRALS HERE!
Have a great day!
■ SOURCES:
FLYOVERS:
-
Giga Texas: Joe Tegtmeyer
Tesla:
-
Tesla Q3 Q&A:
-
Franz and Kiko at Up.Summit:
SpaceX:
-
Starlink Mission 11-5
Starlink:
Elon News: