Elon Musk’s departure from the U.S. government’s Department of Government Efficiency (DOGE) coincides with promising developments in his business ventures. Neuralink, his brain technology startup, announced a substantial $650 million funding round.
Meanwhile, Tesla experienced a remarkable 213% year-on-year sales increase in Norway this May, driven largely by the revamped Model Y. While these achievements may not directly result from Musk stepping away from DOGE, they underline the strength and appeal of his company.
Neuralink Attracts Major Funding as Tesla Sees Strong Sales Growth in Norway
Neuralink’s funding round was led by high-profile investors, including ARK Invest, Sequoia Capital, and Thrive Capital. The startup is developing a brain-computer interface that translates brain signals into commands for devices. This funding is expected to support further development and potential commercialization of its technology. It reinforces investor confidence in Musk’s ventures, even in areas far from his traditional automotive and aerospace focus.
Musk Exits Government Role as Neuralink Secures $650M and Tesla Sales Surge in NorwayTesla’s 213% rise in sales in Norway, with 2,600 vehicles sold in May, is an outlier compared to declines in other European markets such as Spain, Denmark, and Sweden. This surge is attributed mainly to the popularity of the new Model Y compact SUV. Norway’s strong interest in electric vehicles and favorable EV policies likely contributed to the spike, highlighting Tesla’s continuing dominance in select international markets.
Global Trade Uncertainty Rattles Markets as Tariffs Reshape U.S. and China Relations
U.S. markets started June with modest gains — the S&P 500 rose 0.41%, the Dow increased 0.08%, and the Nasdaq gained 0.67%. In contrast, European stocks like the Stoxx 600 dipped slightly. Amid these fluctuations, steel tariffs announced by former President Trump are expected to further elevate already high U.S. steel prices, according to industry experts. This has added another layer of complexity to current trade and economic forecasts.
As global investors adopt the “Anywhere But the USA” strategy in response to unstable trade policies and tax concerns, there’s also a notable shift in Chinese consumer markets. American agricultural exports are declining in China, impacted by rising tariffs. Restaurants like Kunyuan in Beijing have stopped serving U.S. chicken feet, once prized for their quality, due to a 30% price hike since March. This reflects the broader geopolitical and economic tensions affecting U.S. trade relationships globally.
