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Tesla Says Its Fourth Quarter Profit Rose 59%, Expects Strong Demand

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DETROIT, MI — Tesla reported a record fourth-quarter net income on Wednesday, and the company predicted that additional software-related profits would keep its margins higher than any other automaker.

From October to December, the Austin, Texas-based maker of electric vehicles and solar panels earned $3.69 billion, or an adjusted $1.19 per share. According to FactSet, this outperformed analysts’ estimates of $1.13. Profit for the company increased by 59% over the same period last year.

Revenue for the quarter was $24.32 billion, which fell short of analysts’ expectations of $24.67 billion.

Even though some of Tesla’s cars had their prices cut by up to 20% earlier this month, CEO Elon Musk said that demand for Tesla products is high and that sales are limited by production.

According to some analysts, the price cuts indicate that Tesla’s sales are slowing. However, in January, Tesla saw the highest year-to-date orders in its history, Musk said during a webcast with analysts.

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Tesla Plans To Make 1.8 Million Cars This Year

“We believe demand will be strong despite a likely contraction in the overall automotive market,” he said. “Demand far outnumbers supply,” Musk said, adding that Tesla is raising prices slightly.

Tesla said in a letter to investors on Wednesday that it plans to make about 1.8 million cars this year, and Musk said that sales would be higher than that number.

Tesla had said before that delivery would go up by 50% every year in most years. However, 1.8 million represents a 40% increase.

Musk stated that Tesla could produce 2 million vehicles this year. “There would be demand for that as well,” he said to analysts.

On January 13, the company cut prices in the United States and China, which are its two biggest markets. This made many analysts think that demand had dropped because prices were too high and interest rates were going up, which was true.

In a note sent to investors early on Wednesday, Adam Jonas, an analyst at Morgan Stanley, said that demand is a worry.

 

 

Decreased From 30.6% In The Quarter

“The price cuts, in our opinion, are indeed a response to slowing incremental demand relative to incremental supply,” he wrote.

Tesla’s automotive gross profit margin, defined as revenue minus cost of goods sold, decreased from 30.6% in the fourth quarter of 2021 to 25.9% in 2022 as previous discounts took effect.

Tesla stock rose slightly on Wednesday, closing at $144.43. Fh the earnings report, they rose another 5.5% in extended trading.

Seth Goldstein, a Morningstar Equity Strategist who follows Tesla, says that Musk put out the 1.8 million sales estimate to address worries about falling demand. But he thinks that the price cuts will make Tesla’s profit margins shrink even more this year.

“In the long run, I believe profit margins will recover,” he predicted.

Goldstein said that despite price cuts in China, average sales prices rose in the fourth quarter, and the company was able to increase productivity at new factories in Texas and Germany. However, he claimed more was needed to offset higher raw material and shipping costs.

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Software Had Reached About 400,000 Users

Tesla also said that its “Full Self-Driving” software had reached about 400,000 users and brought in $324 million in revenue during the quarter. Full Self-Driving can’t drive itself, despite the name. Tesla tells drivers to be ready to take over at any time.

The company said that there are worries about the economy as a whole because interest rates are going up. “In the near term, we are accelerating our cost-cutting roadmap and driving toward higher production rates while remaining focused on executing against the next phase of our roadmap,” according to the letter.

Musk was asked how Tesla would mitigate brand damage following his $44 billion takeover of Twitter, based on Morning Consult poll results showing a steep decline in Democratic favorability.

On the other hand, Musk claims to have 127 million followers on the social media platform, and his following is growing. “That implies that I’m fairly popular,” he said, adding that the number of followers speaks for itself.

Tesla earned $12.56 billion in net income for the fiscal year or an adjusted $4.07 per share.

Last year, the company’s stock dropped 65% on concerns that Musk was distracted by his $44 billion acquisition of Twitter. However, they are up about 35% so far this year.

Price cuts that began on January 13 fueled Wall Street concerns that demand for Teslas was dwindling as intense competition from startups and legacy automakers arrived.

SOURCE – (AP)

 

Kiara Grace is a staff writer at VORNews, a reputable online publication. Her writing focuses on technology trends, particularly in the realm of consumer electronics and software. With a keen eye for detail and a knack for breaking down complex topics, Kiara delivers insightful analyses that resonate with tech enthusiasts and casual readers alike. Her articles strike a balance between in-depth coverage and accessibility, making them a go-to resource for anyone seeking to stay informed about the latest innovations shaping our digital world.

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GPT-5 Release Date: Everything you need to know about OpenAI’s Next Chatbot

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GPT-5 Release Date Everything you need to know about OpenAI’s Next Chatbot

There’s a rumor that OpenAI’s ChatGPT is getting more powerful.

Two experts who spoke to Business Insider say GPT-5, the new AI model, is expected to launch this summer. Some businesses have already tried out a demo of the tool and are pleased with its capabilities.

Using this technology, OpenAI aims to create artificial general intelligence (AGI), or systems that are more intelligent than humans.

According to this lofty, sci-fi premise, an AI can think for itself without human supervision, which can produce more AI models of its ilk without human intervention. A breakthrough of this magnitude may either destroy or enhance the world.

As the race to build the best artificial intelligence heats up, here is everything you need to know about GPT-5.

What is GPT-5?

GPT-5 is the successor to GPT-4, OpenAI’s fourth-generation chatbot for which a monthly fee is required.

As the name implies, GPT stands for generative pre-trained transformer, an AI engine developed and improved by OpenAI to power ChatGPT. Like the processor in a computer, each new release of the chatbot is based on a brand new GPT with enhanced capabilities.

This AI chatbot can offer human-like responses and can even recognize and generate images and speech. Its successor, GPT-5, is reportedly expected to offer better personalization, make fewer mistakes and handle more types of content, such as video.

It is also worth noting that other companies, such as Google and Meta, have released their GPTs under their names, collectively known as large language models.

These artificial intelligence systems are based on the human brain and can generate text responses to conversations.

Is GPT-5 being trained?

In the latest report, OpenAI claims to have begun training GPT-5 in preparation for its release in mid-this year. Once its training is complete, the system will undergo various safety tests.

This process will include a “red team” test in which internal and external testers will test the bot and provide feedback on its strengths and weaknesses.

Based on a recent tweet from an OpenAI representative, it has been speculated that GPT-5’s learning process has begun.

In January, a leading researcher at OpenAI hinted that the company was training on a much larger GPU than usual. The revelation followed a separate tweet detailing how OpenAI had expanded its computing capacity.

The GPU, or graphics processing unit, is like a calculator that helps an AI model connect various types of data, such as associating an image with a text-based description.

According to Mr Altman, his company worked on GPT-5 on at least two occasions last autumn.

According to two people who attended his former venture capital firm Y Combinator’s alumni reunion last September, Mr Altman spoke of GPT-5 and its successor, GPT-6, as superior to their predecessors.

The CTN News reported in November that OpenAI was working on GPT-5, although no release date was announced.

Reports have also claimed that OpenAI’s boss has devised an audacious plan to procure the large quantities of GPUs required to train larger AI models.

According to the Wall Street Journal, Altman wants to raise as much as $7 trillion with the help of a global network of investors, governments, and energy providers to overcome supply shortages hindering technological progress.

What can GPT-5 do?

OpenAI’s chief spoke at the World Governments Summit in Dubai in February, saying that ChatGPT-5 will be more intelligent than its predecessors.

Mr Altman explained that this is more important than it may appear since these models are generally applicable. “So if it is a little bit smarter, it will be a little bit better at everything.”

According to Mr Altman, GPT-5 will require more data to train on, hinting at its brain power. He indicated that the plan is to use publicly available data sets from the internet and large-scale proprietary data sets provided by organizations. The last would include long-form writings or conversations, whichever format they take.

As Altman stated on Bill Gates’ Unconfuse Me podcast in mid-January, the multimodality concept will be important in the future: “Speech in, speech out. Images, eventually video. People clearly want that. We can push that further, but maybe the most significant progress will be in the area of reasoning ability..”

As a result, GPT-4 is currently capable of reasoning in very limited ways. Also, it is not reliable. If you ask GPT-4 most questions 10,000 times, one is likely to be pretty good, but it does not always know which one, and you want to get the best answer of 10,000 each time, so an improvement in reliability is necessary..”

GPT-5 versus GPT-4

To beat GPT-4, it must surpass GPT-4 Turbo, the next-generation model OpenAI released to subscribers in November.

The company’s most advanced artificial intelligence chatbot has knowledge of world events up to April 2023, as opposed to 2021 for GPT-4; it can analyze even longer prompts of up to 128,000 tokens or roughly the length of a 300-page book; it is better at following instructions; and it is capable of switching between tools based on user request, such as the Dall-E 3 image generator and Bing search engine.

GPT-4 has been tested by OpenAI and several researchers on real-life exams and has been shown to have a decent chance of passing the difficult chartered financial analyst (CFA) exam.

On the 2020 USA Biology Olympiad semifinal exam, it scored in the 99th to 100th percentile, aced the SAT reading and writing section, and excelled in the bar exam.

When will GPT-5 be available?

OpenAI has not yet announced GPT-5.

Also, it is unclear whether this project was affected by the turmoil at OpenAI in late November. On November 17, Mr Altman was ousted by the company’s board of directors.

Mr. Altman returned to the helm along with a new board following a period of tumult reminiscent of the dueling viewpoints on the future of artificial intelligence after five days of tumult.

Some ChatGPT users previously claimed the bot was running on a new AI model called GPT-4.5 Turbo, but that was false.

Looking at OpenAI’s GPT release timeline, we can see that the gap between updates is shrinking. In June 2018, GPT-1 was released, followed by GPT-2 in February 2019 and GPT-3 in June 2020.

The current free version of ChatGPT (GPT 3.5) was released in December 2022, followed by GPT-4 three months later in March 2023. Several recent updates have also been released, including a “turbo” version.

Will OpenAI announce GPT-5 at its developer day conference in November, or will June be the magic month again?

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AI Model Aitana Lopez “Racks Up” Over 300K Instagram Followers

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AI model Aitana Lopez
AI :odel Aitana: The Clueless Agency

Artificial intelligence (AI) is nearly ubiquitous, occupying video and audio environments. In recent years, the K-pop music industry has used deep-fake technology to create groups that resemble actual individuals. Now meet Aitana, Spain’s first AI model.

Eternity and Mave, virtual female groups developed using artificial intelligence, have blurred the barriers between entertainment and technology. Whether we like it or not, these accelerating and frightening shifts are here to stay.

AI has recently made influencers one of its goals. Aitana Lopez, a 25-year-old AI-powered influencer from Spain, is a pioneer in the field. Switching lanes to her Instagram, @fit_aitana will strike you with eerie realism, as her “virtual soul” has deliberately developed a personality that is exceptionally lifelike and resembles the presence of a real-life model.

Her Instagram account already has over 300,000 followers.

Aitana, created by Ruben Cruz, the creator of AI modeling business The Clueless, is a an AI model.

According to Euronews, Cruz’s breakthrough idea was fueled by the agency’s struggle to form genuine business relationships with real-life influencers. “Many projects were put on hold due to problems beyond our control,” the Clueless creator stated.

The Clueless describes Aitana, who is 25 years old, as a “strong and determined woman, independent in her actions and generous in her willingness to help others”. The AI model is also described as a Scorpio with a passion for video games and a commitment to fitness. Her vibrantly crafted design highlights Aitana as a standout with a multifaceted personality.

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Designers working on Aitana’s images at the agency.The Clueless Agency

The Clueless Agency describes the AI influencer with eye-catching pink hair as an outgoing persona with “complicated humour and self-centeredness.”

The AI-powered “gamer at heart and fitness lover” was born on December 11, 1998. Her Instagram photos depict a digitally produced universe that reinforces the notion that she is engaging in real-world activities.

Following her trendsetting debut, the AI agency unveiled her other virtual companion, The Clueless’ second AI model, Maia Lima.

Similar to the controversy and criticism surrounding K-pop’s experimental experimentation, the rise of AI influencers has pushed unrealistic beauty standards.

While it is possible to focus on current technological advancements, this side of the virtual story is not without concerns for the future.

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Understanding HTTP Error 404: Meaning and Navigation Tips

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Understanding HTTP Error 404 Meaning and Navigation Tips

Introduction to Error 404

An error 404 can be very frustrating for users when browsing the web. A 404 error indicates that the requested page is unavailable on the server when a webpage displays a 404 error. In this error, a standard response code indicates that the client could communicate with the server, but the server could not locate the requested information.

How Does Error 404 Occur?

There are several reasons why an error 404 occurs:

  • Page Deletion: The most common cause is accidentally or purposely removing a page from the server.

  • URL Mistyping: The user may enter the wrong URL in the address bar, resulting in a 404 error if the server cannot locate the correct URL.

  • Broken Links: A 404 error may also occur if a link points to a non-existent page.

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Impact of Error 404 on SEO and User Experience

SEO Implications

Search engines such as Google crawl websites to index their content regularly, and encountering 404 errors on a website may have negative consequences for SEO. When a search engine finds numerous 404 errors on a site, it may interpret it as poor maintenance or lacking valuable content, resulting in lowered rankings.

User Experience

404 errors can be irritating for users. They disrupt the browsing flow and can discourage them from returning to the site. Poorly handled 404 errors reflect negatively on the site’s professionalism and reliability.

Best Practices for Handling Error 404

Following these best practices will assist you in effectively managing and mitigating the impact of 404 errors:

  1. Custom Error Pages: Provide users useful information on custom 404 error pages, such as alternative pages or a search bar.

  2. Regular Monitoring: Use tools and services to monitor for 404 errors, and resolve them as soon as possible by fixing broken links or redirecting users to relevant content.

  3. 301 Redirects: 301 redirects send users to a new page in the event a page has been permanently moved or deleted.

Technical Overview: HTTP Status Codes

There are a number of three-digit codes that indicate the outcome of an HTTP request. Examples of HTTP status codes related to errors include:

  • 200 OK: Request succeeded.

  • 301 Moved Permanently: Resource has been permanently moved.

  • 404 Not Found: The requested resource was unavailable on the server.

Conclusion

If not addressed immediately, HTTP error 404: Not Found indicates that a requested webpage is unavailable on the server. This error can adversely affect SEO and user experience. A website owner can effectively manage 404 errors and provide a seamless browsing experience for users by implementing best practices such as custom error pages, regular monitoring, and proper redirects.

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