Tesla's Major FSD Approvals / Tesla Dojo Update / Polestar's Charging Breakthrough ⚡️

Welcome to Electrified, it's your host Dylan Loomis, quick shout out to my newest patrons, Defein M and Ricky. Thank you for choosing to support the channel. The news won't pick up on this, but I think it's an important crossover we have Casey Blaine who used to work at the National Transportation Safety Board. She was there over four years, and now she works at Tesla as a senior council for regulatory matters. I think this type of experience from the NTSB, which oftentimes is involved in these investigations of autopilot or FSD, now working at Tesla as council, it's certainly not a bad thing for Tesla going forward. Periodically, Fox News has been putting out positive news stories about Tesla, and one of the reporters has dubbed himself the Cyber Guy Report. This time around, they were touting the Tesla Semi's impressive performance on ice going down a steep hill. However, the video they used was actually from February earlier this year from the California Highway Patrol. So yes, the Tesla Semi handled that well, but this report is not something new. Years later, Elon is still trying to get that funding secured settlement overturned where he has to have some of his Tesla tweets or post reviewed before he posts them. Today, the US Supreme Court declined to hear Elon's bid to overturn that ruling. Elon has tried to overturn this many times the past few years. It seems like the sticking point is the fact that originally at the settlement, Elon did agree to have his tweets reviewed before posting, and they're saying just because now Elon has changed his mind and is maybe regretting that decision, he can't get out of it.

欢迎来到“通电”，我是主持人迪众·卢米斯，快速致谢我的最新赞助人Defein M和Ricky。感谢您选择支持该频道。新闻界可能不会注意到这一点，但我认为这是一个重要的交叉点，我们有凯西·布莱恩，她曾在国家交通安全委员会工作。她在那里工作了四年多，现在在特斯拉担任监管事务的高级法律顾问。我认为NTSB的这种经验，这个机构往往参与调查自动驾驶或全自动驾驶系统的事故，现在在特斯拉担任法律顾问，对特斯拉未来肯定是一件好事。间歇性地，福克斯新闻频道一直发布关于特斯拉的积极新闻报道，其中一位记者自称为“网络人报告”。这一次，他们吹捧特斯拉半挂车在结冰的陡坡上表现出色。然而，他们使用的视频实际上是今年早些时候加利福尼亚高速公路巡逻队发布的。是的，特斯拉半挂车表现不错，但这则报道并不新鲜。多年后，埃隆仍在努力推翻那个规定，他必须在发布特斯拉相关推文或帖子之前进行审核的解决方案。今天，美国最高法院拒绝听取埃隆推翻该裁决的请求。埃隆过去几年一直试图推翻这一规定。现在似乎问题的关键在于，最初在解决方案中，埃隆同意在发布推文之前进行审查，他们说仅仅因为埃隆现在改变了主意，可能后悔做出那个决定，就不能逃脱责任。

There are plenty of updates set to roll out to the Cybertruck, including off-road mode, over land mode, and bahat mode. And here's a quick screenshot of the user interface of some of these upcoming changes. As many people have desired, you'll now have the ability to choose locking differentials options. Rail assist will maintain a set cruising speed so you can focus on steering. Better traction control, the adaptive suspension will now estimate payload more accurately.

Cybertruck将推出很多更新，包括越野模式、陆地模式和巴哈特模式。这里有一张快速截图，展示了一些即将推出的变化的用户界面。许多人希望的，现在您将能够选择不同的差速锁选项。铁轨辅助将保持设定的巡航速度，这样您就可以专注于转向。更好的牵引控制，自适应悬架现在将更准确地估计有效载荷。

And with Cybertent mode, it will level the suspension so you can sleep comfortably on a flat surface in your Cybertent, just in case you're parked on a hill, it'll level it out. The lights, air conditioning, and all of the outlets will stay on if enabled in this setting. On X, Joseph said, how about maps remembering satellite view setting, high beam staying on auto mode, rear turning up to 10 degrees of steer. To that, Wes, a Cybertruck engineer said, I think 1-3 are covered in the spring release, which is already deployed to wave 1 and should be going wide after that group of installs is verified. Number 4, however, got no attention, which was any lane-keeping autopilot or FSD.

通过Cybertent模式，它将调整悬挂系统，让你可以在Cybertent上舒适地睡在一个平坦的表面上，以防你停在山坡上，它会自动调整水平。灯光、空调以及所有插座将在此设置下保持开启。在X方面，Joseph说，地图能否记住卫星视图设定，远光灯能否保持自动模式，后轮转向最多能达到10度。对此，Cybertruck工程师Wes表示，我认为第1至3点在春季发布版本中已包含，已部署到第一批用户并在验证后将逐渐推广。然而，第4点却没有被关注，即任何车道保持自动驾驶或FSD功能。

So when it comes to 8s on the Cybertruck, mums the word. The top gear guys did a YouTube video of some of these early Cybertruck features, and they're sticklers for copyright, but here's what they said. I came into this really skeptical about the Cybertruck, I just thought it's going to be one of those triumphs of design and desire over everything else, and yet I've come away from this really impressed by it. A few months ago, it was all about the way the car looked and the celebrity of it, and I did not want one.

所以说到Cybertruck上8个特点，就得守口如瓶。《疾驰》节目的小伙伴们制作了一段YouTube视频介绍Cybertruck的一些早期特点，他们对版权非常谨慎，但这是他们说的。最初我对Cybertruck非常怀疑，我只是觉得它会成为设计和渴望的胜利，但我却对它留下了深刻印象。几个月前，人们只对汽车的外观和名人效应感兴趣，我并不想要一辆。

But now, getting out here, getting away from all of that, and getting under the skin and seeing what it can do, I want one. We've been saying for a long time, it's not just the Cybertruck design that makes it special, but everything going on inside. So it's great to see channels like Top Gear pushing the Cybertruck to its limits and walking away very impressed. Tesla Europe and Middle East posted about Euro Summer, where the Cybertruck will be making its rounds, they're calling it Cyber Odyssey, and here are the different locations.

但是现在，离开那一切，远离这一切，并深入了解它的实力，我想要一个。我们很长时间以来一直在说，不仅是Cybertruck的设计使它特别，而是一切内部的一切。所以很高兴看到像Top Gear这样的频道将Cybertruck推向极限，并赞不绝口地离开。特斯拉欧洲和中东发布了关于欧洲夏季的信息，Cybertruck将在此间巡回，他们称之为Cyber Odyssey，并列出了不同的地点。

In the comments, that official Tesla account said more details on Tuesday. Late last year, we were told that Tesla is building a dojo data center in Austin. By doing a vertical integration of the data center, we could extract new levels of efficiency. We could optimize power delivery, cooling, and as well as system management across the whole data center stack. We knew that we had to read examine every aspect of the data center infrastructure in order to support our unprecedented power and cooling density. We brought in a fully custom design CDU to support dojo's dense cooling requirements, and the amazing part is we're able to do this at a fraction of the cost versus buying off the shelf and modifying it.

在评论中，特斯拉官方账号表示周二会公布更多细节。去年底，我们被告知特斯拉在奥斯汀建造道场数据中心。通过对数据中心进行垂直整合，我们可以提取新的效率水平。我们可以优化电力传输、冷却，以及整个数据中心堆栈的系统管理。我们知道必须重新检查数据中心基础设施的每个方面，以支持我们前所未有的电力和冷却密度。我们引入了完全定制设计的CDU来支持道场的高密度冷却需求，令人惊讶的是，我们能够以远低于购买现成产品并进行修改的成本来实现这一点。

And since our dojo cabinet integrates enough power and cooling to match an entire row of standard IT racks, we need to carefully design our cabinet and infrastructure together. Dojo is a very big computer and actually will use a lot of power and need a lot of cooling. Now with that context, that dojo does require major cooling efforts. Here's what Joe Tett-Mayer had to say.

由于我们的道场机柜整合了足够的电力和制冷设备，可以匹配一整排标准IT机架，因此我们需要仔细地将机柜和基础设施一起设计。道场是一台非常庞大的计算机，实际上需要大量电力并且需要大量制冷。现在有了这个背景，道场确实需要大量的制冷工作。以下是Joe Tett-Mayer的说法。

Also, some of the mainstream media have been trying to say that this is a data center or related to dojo or some sort of a bunker for the computers, and that is the farthest thing from the truth. Looking at the Travis County permits side, I was able to find these two permits, and this is for the south extension and it is a cooling tower structural platform. So if any of you out there know why these cooling towers that are currently being built at Gigatexus are definitely not for dojo, please fill us all in below. As we've been talking about, Elon seems laser focused on Tesla, and he just made a surprise visit to Beijing to meet with the premier to talk about rolling out FSD in China.

另外，一些主流媒体一直在试图说这是一个数据中心或与道场或计算机有关的地方，但事实完全相反。我查看了Travis县的许可证，找到了这两个许可证，这是为了南部的扩建，是一个冷却塔的结构平台。如果你们中的任何人知道为什么目前在Gigatexus建造的这些冷却塔绝对不是为了道场，请在下面告诉我们。正如我们之前所讨论的，埃隆似乎专注于特斯拉，他刚刚突然访问北京与总理会面，讨论在中国推出全自动驾驶。

A quick pro tip, when there are over 76 articles talking about one story, some of those articles will have more data and facts than the others. In just a few seconds, looking at these tags for each article right here, I can find the sources with high factuality saving myself time. I can actually see all of the sources that Lean left politically as well as Lean right and those that are in the center, thanks to ground news, the sponsor of this video. Many of you have reached out, letting me know how much you appreciate finding ground news as the ability to see the political leaning of each source can really help cut through the noise in today's media landscape.

一个快速的专业建议，当有超过76篇文章谈论同一个故事时，其中一些文章会比其他文章拥有更多的数据和事实。只需几秒钟，看看这里每篇文章的标签，我就能找到具有高真实性的来源，节省了我的时间。实际上，我可以看到所有Lean左派和Lean右派以及那些在中间的来源，这要感谢ground news，这个视频的赞助商。许多人已经联系我，让我知道他们有多么欣赏地找到ground news，因为能够看到每个来源的政治倾向真的可以帮助穿越当今媒体景观中的噪音。

You can also create custom for you pages as I have one that's just for Elon and Tesla news. In an election year like this one, I think having a tool like ground news is critical to cut through all of the media bias to actually understand what's really going on. Each day, I'll check on the blind spot tool to see what stories are being underreported on the left and underreported on the right.

您还可以创建自定义页面，比如我有一个专门用来追踪埃隆和特斯拉新闻的页面。在像这样的选举年，我认为像ground news这样的工具至关重要，可以帮助我们穿透媒体偏见，真正理解背后发生的事情。每天，我会用盲点工具检查左右两边哪些故事被低估报道了。

Back to the Elon in China story, you can actually see that 12% of those sources were government owned and 7% of that is actually the government of Russia. Now we don't have time to dive into that right now, but you can go to ground.news slash electrified linked below and subscribe for as little as $1 per month. You can also get 40% off unlimited access to the vantage subscription, which is what I use. The link is below and the key bar code is right on the screen.

回到“中国的埃隆马斯克”这个故事，你可以看到其中12%的消息来源是政府所有的，其中7%实际上来自俄罗斯政府。现在我们没有时间深入讨论这个问题，但你可以访问下方的ground.news/electrified链接，每月仅需1美元订阅。你还可以享受40%的无限访问优惠，这就是我使用的服务。链接在下方，屏幕上也有关键条形码。

After Elon's flurry of meetings with top officials in Beijing, China's government signaled its blessing for Tesla to roll out FSD in China. Chinese officials told Tesla Beijing has tentatively approved the company's plan to launch FSD. Tesla will deploy FSD based on mapping and navigation functions provided by Baidu. Tesla's partnership with Baidu helped it to clear a major regulatory hurdle. They said working with a Chinese company helps ease regulators' concerns over any data security risks. Elon arrived in Beijing on Sunday and as of earlier today, he's already left the country.

在埃隆在北京与高级官员举行一系列会议之后，中国政府表示支持特斯拉在中国推出全自动驾驶技术。中国官员告诉特斯拉，北京已初步批准该公司推出全自动驾驶技术的计划。特斯拉将根据百度提供的地图和导航功能部署全自动驾驶技术。特斯拉与百度的合作帮助其顺利通过了一个重要的监管障碍。他们表示与中国公司合作有助于缓解监管机构对任何数据安全风险的担忧。埃隆于周日抵达北京，截止到今天早些时候，他已经离开了中国。

Now there is one storyline right now that I think is going overlooked. These officials have not responded to Elon's request for approval to transfer data that Tesla cars collect in China to the United States to help train the FSD neural nets. This could be a significant sticking point as to date, China has been very clear about wanting Tesla to keep all of its data that it collects actually in China. That's why Tesla had to set up its own data center in China a few years back. Tesla would still have to go through China's stringent approval process for data cross-border transfer.

目前有一个情节我认为被忽视了。这些官员尚未回应马斯克的请求，允许特斯拉汽车在中国收集的数据转移到美国，以帮助训练FSD神经网络。这可能是一个重要的阻碍点，因为迄今为止，中国一直非常明确地希望特斯拉将其收集的所有数据都保留在中国内部。这就是为什么几年前特斯拉不得不在中国成立自己的数据中心。特斯拉仍然必须通过中国严格的数据跨境转移审批流程。

Additionally though, the China Association of Automobile Manufacturers said Tesla's Model 3 and why had passed its tests and were compliant with China's data security requirements. The government-backed industry group checked how vehicles process facial recognition data they collect using cameras outside the cars as well as real-time data of drivers and passengers. That clearance may pave the way for local authorities to loosen restrictions on where Tesla's cars can go in China. Earlier today, Elon also met with Robin Zhang, chairman of CATL. This after we learned last month CATL was in talks with Tesla and other automakers to license its battery technology.

此外，中国汽车工业协会表示特斯拉的Model 3和Y已经通过了测试，并符合中国的数据安全要求。这家政府支持的行业组织检查了车辆如何处理他们收集到的面部识别数据，包括使用车外摄像头和驾驶员、乘客的实时数据。这一许可可能为当地政府放宽特斯拉车辆在中国行驶范围的限制铺平道路。今天早些时候，埃隆也会见了宁德时代董事长张桐。这是在我们上个月得知宁德时代正在与特斯拉和其他汽车制造商就授权其电池技术进行讨论之后。

On X, Elon said, honored to meet with Premier Li Chung, we have known each other now many years since early Shanghai days. As a little preamble late last week, Tesla did launch enhanced autopilot subscriptions in China for $100 per month. So maybe Elon saying FSD may be possible very soon in China is actually going to come to fruition.

在某天，埃隆说，很荣幸能与李总理见面，我们相识已多年，自从上海早期开始。作为上周稍晚的一个前奏，特斯拉在中国推出了每月100美元的增强版自动驾驶订阅服务。所以也许埃隆所说的全自动驾驶可能很快在中国实现。

Just basic math, there's about 1.7 million Teslas on the roads in China. If Tesla were to charge $100 per month for FSD, that would be roughly $2 billion in revenue for Tesla per year if of course 100% of the people subscribed. But using a more realistic take rate of about 30%, that's still over $600 million of high margin revenue for Tesla. When it comes to the Model 3 and why both passing their data security requirements, that made Tesla the only foreign-funded enterprise to meet the compliance requirements.

仅仅是基本的数学问题，中国的道路上大约有170万辆特斯拉。如果特斯拉每月为FSD收费100美元，那么如果所有人都订阅的话，这将为特斯拉带来大约20亿美元的收入。但是如果实际订阅率约为30%，对于特斯拉来说，仍然是超过6亿美元的高利润收入。至于Model 3为什么能够通过数据安全要求，这使得特斯拉成为唯一符合合规要求的外资企业。

Tesla passed in part because they anonymized the external facial information, they don't collect cabin data by default, they process cabin data within the vehicle and they provide clear notifications when processing personal info. Call me naive, but if there's an automaker that I would trust with my data, it would indeed be Tesla. And don't forget, the way Elon has navigated Tesla's relations with China the past few years have really paved the way for what's happening now.

特斯拉之所以通过部分审核，是因为他们对外部面部信息进行了匿名化处理，不会默认收集车厢数据，他们会在车辆内部处理车厢数据，并在处理个人信息时提供清晰的通知。可能有人会觉得我太天真，但若要选择一个汽车制造商来信任我的数据，那肯定是特斯拉。不要忘记，埃隆在过去几年中处理特斯拉与中国关系的方式确实为当前所发生的事情铺平了道路。

Add in the fact that the Chinese leaders have immense respect for Elon and Tesla and that's making all of this possible. Tesla has been getting special treatment from the Chinese government now for years and a large part of that is thanks to the way that Elon has handled things. On the Tesla and Baidu deal, foreign companies selling smart cars in China are required to use one of about 20 approved local suppliers of mapping and navigation systems. Naturally, it's fun to think about potential revenues and profits from FSD entering this new market, the largest EV auto market in the world, but don't sleep on the ability here for Tesla to further differentiate its vehicles in that market where the consumer places a high priority on tech forward vehicles.

再加上中国领导人对埃隆和特斯拉的极大尊重，这使得所有这些成为可能。特斯拉多年来一直受到中国政府的特殊关照，其中很大一部分要归功于埃隆处理事务的方式。关于特斯拉和百度的交易，外国公司在中国销售智能汽车需要使用约20家经批准的本地供应商的地图和导航系统。当然，想象一下全自动驾驶技术进入这个全球最大的电动汽车市场可能带来的潜在收入和利润是很有趣的，但不要忽视这里特斯拉在该市场进一步区分其车辆的能力，那里的消费者非常重视科技前沿的汽车。

We've been saying now for months that all of these Chinese knockoff versions of their FSD are going to fall well short of Tesla's performance of the true FSD. Now it appears likely that Tesla is going to have a chance to actually prove that sometime here in the next few months. Hopefully, in the Chinese market, Tesla can set proper consumer expectations for the software, but as we've seen version 12 do in the United States, it's already converting skeptics like Fred Lambert from Electric. He recently said he was not the biggest fan of FSD, but he's been impressed with V12 so far. My point, this could go a long way for Tesla not just in more revenues and profits, but to actually sell more Tesla vehicles in China and to further increase this halo effect around the Tesla brand.

我们几个月来一直在说，所有这些中国仿冒版的全自动驾驶系统都将远远达不到特斯拉真正全自动驾驶系统的性能。现在看来，特斯拉很可能将有机会在接下来的几个月内真正证明这一点。希望在中国市场，特斯拉可以为软件设定适当的消费者期望，就像我们在美国看到的版本12一样，已经让像Electric的Fred Lambert这样的怀疑论者转变立场。他最近表示他并不是全自动驾驶系统的铁杆粉丝，但他目前对版本12印象深刻。我的观点是，这不仅对特斯拉在更多收入和利润方面有巨大帮助，还能在中国销售更多特斯拉汽车，并进一步增强特斯拉品牌周围的光环效应。

Be careful with this next bit as it's from this account that I cannot vouch for. But he shared this communication as if it was something from Tesla and it said you're invited to participate in our FSD beta feature internal testing which will start on April 30th. Again, I would place this as a rumor for now, but there's a chance that Tesla starts some internal beta testing of FSD in China as soon as tomorrow the 30th. But grounding us here a bit, it looks like Tesla's approval is in principle from the Chinese government officials for now. Tesla has been granted the approval under certain conditions. And just so you know, this Tesla partnership with Baidu will certainly have some new components, but Tesla has been using Baidu for its in-car mapping and navigation since 2020.

请小心处理接下来的内容，因为它来自一个我无法保证的帐户。但他分享了这个通讯，似乎是来自特斯拉，其中说您被邀请参与我们的FSD beta功能内部测试，将于4月30日开始。再次强调，目前我会把这看作是一个谣言，但有可能特斯拉将在30日明天开始中国内部的FSD beta测试。然而，就事实而言，看来特斯拉目前已经得到了中国政府的原则性批准。特斯拉在某些条件下获得了这项批准。只是让您知道，特斯拉与百度的合作肯定会有一些新的组成部分，但自2020年以来，特斯拉一直在使用百度进行车载地图和导航。

This is certainly a major moment for Tesla, but we definitely need more information about if Tesla will have the ability to send all of this training data back to its systems in the United States to actually continue to improve the FSD system. Having all of that data from China where they have more cyclists and pedestrians could go a long way in actually improving the system from a global perspective. And if Tesla can't send all of that training data back to the United States, does that mean they have to set up another data center in China with H100s and Dojo to actually train the system. Simultaneously, we had Elon saying yesterday, Tesla will spend around $10 billion this year in combined training and inference AI, the latter being primarily in-car, any company not spending at this level and doing so efficiently cannot compete.

这绝对是特斯拉的一个重要时刻，但我们确实需要更多关于特斯拉是否有能力将所有这些训练数据发送回美国系统，以实际持续改进全自动驾驶系统的信息。来自中国的所有数据，他们那里有更多骑自行车的和行人，实际上可以在全球范围内改进系统方面起到很大作用。如果特斯拉无法将所有这些训练数据发送回美国，那是否意味着他们必须在中国建立另一个数据中心，配备H100和Dojo来实际训练系统。同时，埃隆昨天表示，特斯拉今年将在训练和推理人工智能方面花费约100亿美元，后者主要是在车载中，任何不以这个水平投资并且高效地这样做的公司都无法竞争。

Knowing that, keep in mind what Chamath just said on the all-in pod. And we've mentioned this before. I've tried to talk a lot about this with Jonathan Ross from Grog, but AI is really two markets, training and inference. And inference is going to be a hundred times bigger than training. And NVIDIA is really good at training and very miscast at inference. The problem is that right now we need to see a CapEx build cycle for inference. On the Q1 call, Elon made it a point to emphasize that Tesla's AI inference efficiency is vastly better than any other company. There's no company even close to the inference efficiency of Tesla. That inference compute is the chip on Tesla vehicles, hardware 3, hardware 4, and Elon said hardware 5 is pretty much designed and should be in cars, hopefully toward the end of next year.

请记住Chamath在《All-In》播客中所说的话。我们之前也提到过这一点。我已经努力与Grog的Jonathan Ross讨论了很多次，但是人工智能实际上是两个市场，训练和推理。推理将比训练大100倍。英伟达在训练方面做得非常好，但在推理方面则大错特错。问题在于现在我们需要看到一个推理的资本支出建设周期。在Q1电话会议中，埃隆强调了特斯拉的人工智能推理效率远远超过任何其他公司。没有任何公司能与特斯拉的推理效率相比。这种推理计算是安装在特斯拉汽车上的芯片，硬件3、硬件4，埃隆说硬件5几乎已经设计完成，希望将在明年年底装进车辆中。

Here's a quick rundown of what this may mean. Tesla spending $10 billion this year for combined training and inference AI. They already spent $1 billion on AI infrastructure CapEx in quarter one. Which means there could be another $9 billion spent in the final three quarters of this year. Right now, Tesla has 35,000 H100 equivalents active for training and they plan to exit 2024 with around 85,000. If you assume the average cost of an H100 chip is around $40,000, that's $2 billion of spend to get Tesla from 35 to 85,000. Well Mars said that Dojo's current compute capacity is 7,500 H100s which would mean $300 million that Tesla does not have to spend with Nvidia. Now obviously Tesla has costs involved with Dojo but you get the point.

这或许意味着什么呢？特斯拉今年将花费100亿美元用于培训和推理人工智能。他们已经在第一季度就AI基础设施的资本支出上花费了10亿美元。这意味着今年最后三个季度可能还会有90亿美元的支出。目前，特斯拉有35,000个H100等价物用于培训，并计划在2024年底将这个数字增加到大约85,000。如果假设每个H100芯片的平均成本约为40,000美元，那么从35,000到85,000的增加将需要20亿美元的支出。马斯表示Dojo目前的计算能力为7,500个H100，这意味着特斯拉无需花费3亿美元与英伟达合作。显然，特斯拉在Dojo方面也有成本，但你能理解这个意思。

So if Dojo has the compute equivalent of 7,500 H100s and Tesla has a total H100 equivalent of 35,000. That means Dojo is currently making up 21.4% of Tesla's training capacity. And honestly if you would have asked me last week where I thought this number would be for Dojo, I would have guessed around 10%. So if you take that $9 billion Tesla has yet to spend for the rest of this year, subtract $2 billion to get them from 35,000 to 85,000 H100 equivalents. That leaves about $7 billion in AI CapEx for this year which would be enough for $175,000 H100s which would then be in addition to Tesla exiting 2024 with 85,000.

因此，如果道场的计算能力相当于7500个H100，而特斯拉的总H100相当于35000个，这意味着道场目前占特斯拉培训能力的21.4%。说实话，如果上周问我道场的比例会是多少，我本来会猜大约是10%。因此，如果你将特斯拉今年剩下的未花费的90亿美元减去20亿美元，可以让他们从35000个增加到85000个H100的等效值。这意味着今年AI资本支出还有大约70亿美元，足以购买175000个H100，这将是特斯拉在2024年以后的85000个H100之外的增加。

I'm not at all predicting I think the rest of that spend is going to totally go to H100s, I'm just laying out some different scenarios. This would be Tesla doubling its compute again by the end of this year and then doubling it again throughout 2025 from a much higher base. But I would imagine a portion of that spend will be for hardware 5 to finish the design and then ultimately to enter it into production. I did post earlier today on X about hoping everybody learned their lessons with everything that's happened the past few weeks.

我并不是在预测我认为接下来的花费会完全用于H100s，我只是在陈述一些不同的情景。这将意味着特斯拉在今年年底再次将其计算能力增加一倍，然后在2025年再次将其增加一倍，从一个更高的基数开始。但我想其中一部分花费将用于硬件5的设计完成，最终进入生产阶段。我早些时候在X上发帖，希望大家都能从过去几周发生的一切中吸取教训。

Honestly though this was not nearly as much about Tesla's stock movement as it is what's going on at Tesla the company. If you can't look around right now and see all of the developments with FSD in global markets with Tesla saving $1 billion a year after the layoffs, Tesla now deciding to spend multiples on AI infrastructure more than they have in the past. To me it's pretty obvious where all of this is headed over the next 2-3 years. Sure there's going to be some unknowns and bumps along the way but the picture is pretty clear right now. For some context, Tesla's entire annual capital expenditures have only been between $5 billion and $10 billion for the past few years.

老实说，这并不仅仅是关于特斯拉股票走势，更多地关注的是特斯拉公司内部的情况。如果你现在看一下全球市场上的全自动驾驶技术的发展，特斯拉在裁员后每年节省10亿美元，特斯拉现在决定在人工智能基础设施上投入的资金是过去的数倍。对我来说，未来2-3年的发展方向是相当明显的。当然，在未来的道路上会有一些未知和障碍，但现在的情况非常清楚。可以作为参考的是，特斯拉过去几年的年度资本支出仅在50亿至100亿美元之间。

Over the past decade Tesla has proven itself as a hyper-efficient deployer of capital so given that Tesla is now deciding to spend this much on AI infrastructure should tell us everything we need to know. They're already seeing significant returns on investment with more compute, with more data, with more vehicles having FSD. In case you missed it last week, Tesla was demoing FSD to the Swedish Transport Administration in Germany. AKA the first time FSD was used on European roads. A rep from the transport agency said impressive, smooth and natural driving.

在过去的十年里，特斯拉已经证明自己是资本非常高效利用的公司，所以考虑到特斯拉现在决定在人工智能基础设施上投入如此巨额资金，这应该告诉我们一切我们需要知道的。他们已经开始看到了投资回报率显著增加，拥有更多的计算能力，拥有更多的数据，拥有更多的配备全自动驾驶功能的车辆。如果你错过了上周的新闻，特斯拉正在德国向瑞典交通管理局展示全自动驾驶功能。也就是说，这是全自动驾驶功能首次在欧洲道路上使用。该交通管理局的代表称赞称，驾驶表现出色，平稳自然。

In Europe there are still questions about these new decas regulations they won't go into effect until November and they still don't address the key issue of system-initiated maneuvers, meaning Tesla's FSD could be nerfed to some degree across Europe unless things change as they stand now. But a good step one in getting those regulators to change their minds would be allowing them to experience version 12. Replying to whole Mars, Elon did say we believe version 12 is ready for supervised FSD in left hand drive countries, right hand drive will take a bit longer. As you can see from this map, most of the world in green actually operates in left hand drive markets.

在欧洲，关于这些新的十部法规仍然存在疑问，它们直到11月才会生效，而且仍然没有解决系统发起的机动问题，这意味着特斯拉的FSD在欧洲可能会在一定程度上被削弱，除非现在的情况发生变化。但让这些监管机构改变他们的想法的第一步将是让他们体验版本12。回应整个火星，埃隆确实说我们认为版本12已经准备好在左驾驶国家进行监督FSD，右驾驶将需要更长一点时间。正如你从这张地图中可以看到的，世界上大部分绿色地区实际上都是左驾驶市场。

Ray Fertesla said the co-founder and vice chair of Xiaomi actually traveled to the United States just to test Tesla's FSD 12. The TLDR, he said he was very impressed. On X, Zach said his 2019 Model 3 with ultrasonic sensors got the new auto park and visualizations with FSD version 12.3.6. So yes, .6 is rolling out to customers, but as Elon said last week, these three .releases are minor updates, the big one will be 12.4. NHTSA has opened an investigation into Ford's Blue Crews after two fatal crashes involving Mach-E's. The NTSB, as we talked about earlier, also opened a separate investigation into those Mach-E's.

雷·费尔特斯拉表示，小米的联合创始人兼副主席实际上专程前往美国测试特斯拉的FSD 12版本。他表示，总的来说他印象深刻。Zach表示，他的2019年款Model 3配备了超声波传感器，得到了FSD 12.3.6版本的新自动停车和可视化功能。因此，是的，版本.6已经推送给用户了，但正如埃隆上周所说，这三个更新都是较小的，重要的更新将是12.4版本。NHTSA已经针对福特的蓝色驾驶进行了调查，因为涉及到两起马自达的致命事故。正如我们之前提到的，NTSB也对这些马自达进行了单独的调查。

An initial investigation confirmed Blue Crews was engaged immediately prior to the collision in the Philadelphia crash. Both of these fatal incidents were at nighttime lighting conditions. Also last week, in case you missed it, NHTSA opened a probe into Tesla's autopilot to determine if Tesla's recall actually made enough changes to ensure drivers are paying attention. This after receiving reports of 20 accidents involving cars that had the new autopilot software updates after Tesla's recall. Honda has started deliveries of its first all EV, the prologue. It starts at $47.4 thousand dollars and it does qualify for the $7,500 credit.

一项初步调查证实，在费城撞车事故发生前，Blue Crews正处于紧急状态。这两起致命事件均发生在夜间照明条件下。另外，上周，如果你错过了的话，美国国家公路交通安全管理局(NHTSA)对特斯拉的自动驾驶系统展开了调查，以确定特斯拉的召回是否真正做出了足够的改变，确保驾驶员保持专注。这是在特斯拉的召回之后，收到了关于20起事故的报告，这些事故都涉及到了特斯拉的新自动驾驶软件更新。本田已经开始交付其首款全电动车——Prologue。起售价为47.4万美元，并且符合7500美元的减免税收。

Next week, Cathie Wood was talking about autonomy and said it's a winner takes most market. Elon quoted saying as Cathie said, Tesla is the biggest AI project on Earth. Cathie said it well, At a time when many companies are bowing to short-term oriented shareholders who are demanding profits, dividends and share repurchases now, Tesla's increased investment in the largest AI project on Earth is separating it from the auto and tech packs. As a reminder, because this has been telegraphed for years and one day it's going to be here, Cathie said while Tesla's gross margins are likely to increase from 15 to 16% now, to 25 to 35% as EVs gain share, its Robotaxi margins should be software as a service like in the 70 to 85% range.

下周，凯茜·伍德谈到了自主性，并表示这是一个胜者通吃的市场。伊隆引用了凯茜说的话，称特斯拉是地球上最大的人工智能项目。凯茜说得很好，在许多公司都在迎合要求立即盈利、分红和股票回购的短期导向股东的时候，特斯拉在地球上最大的人工智能项目上的增加投资正在将其与汽车和科技集团区分开来。作为提醒，因为这已经被预示多年，而有一天它将会到来，凯茜说，尽管特斯拉的总毛利可能从目前的15％至16％增长到25％至35％，随着电动汽车份额的增加，其Robotaxi的毛利率应该是以软件为服务，大约为70％至85％的范围。

BYD's net income for quarter one was $631 million. Tesla's non-gap net income for quarter one was $1.5 billion. Polestar just released a fast charging demo with its upcoming Polestar 5 using Storedotz a Polestar partner's unique silicon-based cells. They charged the battery pack from 10 to 80% in exactly 10 minutes. But this was the first time a complete battery pack has been tested in a fully functioning car without showing the eventual power reduction typically seen during charging. We did not add anything new outside the battery pack, it still had the original cooling pump and fan. What they're saying is with Storedotz silicon cells they're not seeing a charging curve like we've seen in all other packs. What's interesting about Storedotz silicon cells is the charge speed does not change throughout the charging process. So whether you stop to recharge at 10% or 60% you'll achieve the same speeds which were in excess of 350 kilowatts. They said we typically have a development cycle of 2-3 years so I'd say we could put this into production within that time period. As with all battery promises we need to be extra cautious but certainly something to keep an eye on.

比亚迪（BYD）第一季度的净收入为6.31亿美元。特斯拉（Tesla）第一季度的非通用会计净收入为15亿美元。极星（Polestar）刚刚发布了一个快速充电演示，使用了即将推出的Polestar 5车型上存储点（Storedot）独特的基于硅的电池。他们在10分钟内将电池组从10%充电至80%。但这是第一次在完全正常运行的汽车中对整个电池组进行测试，没有像充电过程中通常看到的电力降低。我们没有在电池组外部添加任何新元件，它仍然保留原始的冷却泵和风扇。他们说，使用存储点硅电池，他们看不到像其他电池组一样出现的充电曲线。存储点硅电池的有趣之处在于，在整个充电过程中充电速度不会改变。因此，无论在10%还是60%时停止充电，你将获得相同的超过350千瓦的速度。他们表示，我们通常有2-3年的开发周期，所以我认为我们可以在这段时间内投入生产。就像所有电池承诺一样，我们需要格外谨慎，但肯定值得关注。

It's a bit stale now but Ford did lose $1.3 billion for the quarter from its Model E division. That means Model E lost close to $130,000 per vehicle on the roughly 10,000 EVs it sold. Gavin Newsom put out a press release saying for every 5 gas stations in California there's now one electric vehicle fast charging station. From S3 partners Tesla short sellers have now lost $5.5 billion in the past 4 sessions. As we've said now for years when it comes to Tesla stock often times it feels like nothing happens for years and then everything happens all at once. Things can happen very quickly. You probably heard Ron Bering call the Tesla stock bottom last week. Elon responded to a post about that saying Ron's a very smart man with an outstanding track record for a long time. It's wise to listen to anyone who fits that description. Tesla stock closed the day at $194.05 up 15.3% while the NASDAQ was up 0.35%. It was a ridiculously high volume day for Tesla stock trading around 140 million shares above the average volume the past 30 days. Tesla is now up about 40% over the past 8 days.

现在福特汽车的Model E部门已经有点过时了，但在这一季度中，他们亏损了13亿美元。这意味着Model E每辆车的亏损接近13万美元，大约销售了1万辆电动汽车。加文·纽森发布了新闻稿称，加利福尼亚现在每五个加油站就有一个电动车快速充电站。据S3合作伙伴称，特斯拉的空头卖家在过去4个交易日中已经亏损了55亿美元。正如我们多年来所说的，当涉及特斯拉股票时，往往长时间似乎没有什么变化，然后所有事情突然发生。事情可能发生得非常迅速。上周你可能听说过罗恩·贝林判断特斯拉股票触底。埃隆回复了一则帖子称，罗恩是一个非常聪明的人，长期以来表现出色。倾听符合这一描述的人是明智的。特斯拉股票收盘价为194.05美元，上涨了15.3%，而纳斯达克指数上涨了0.35%。特斯拉股票交易量非常高，大约是过去30天平均交易量的1.4亿股。特斯拉股价在过去8天中上涨了大约40%。

At this point I think it's important to hear don't ever get too low when things are going bad and don't ever get too high when things are going well. Things can turn at any time and Tesla still has to earn the financials and the earnings per share that the market is now pricing in. Don't forget check out ground news linked below if you're interested. Take advantage of that discount. Hope you guys have a wonderful day. If you liked the video, if you did, you can find me on X-linked below and a huge thank you to all of my Patreon supporters.

在这一点上，我认为重要的是要记住，当事情不顺利时，不要过于消沉，当事情顺利时也不要过于得意。事情随时都可能发生变化，特斯拉仍然需要为市场目前定价的财务和每股收益付出努力。如果你有兴趣，请不要忘记查看下面链接的ground news。抓住这个折扣的机会。希望你们有一个美好的一天。如果你喜欢这个视频，你可以在下面的X-linked 上找到我，再次感谢所有我的Patreon支持者。