Latest news with #079
The Star
09-06-2025
- Automotive
- The Star
Tesla's head of Optimus humanoid robot programme exits company
Milan Kovac, the head of engineering for Optimus, informed colleagues on Friday that he is departing effective immediately, said the person, who asked not to be identified discussing private information. —/AFP The leader of Tesla Inc.'s Optimus program is leaving the company, according to a person familiar with the matter, injecting uncertainty into the humanoid robot effort that Chief Executive Officer Elon Musk sees as a significant part of its future business. Milan Kovac, the head of engineering for Optimus, informed colleagues on Friday that he is departing effective immediately, said the person, who asked not to be identified discussing private information. Ashok Elluswamy, who leads Tesla's Autopilot teams, will take over responsibility for Optimus, the person said. Kovac, Elluswamy and Musk didn't respond to requests for comment. Kovac subsequently confirmed his departure on X, calling it "the most difficult decision' of his life and citing a desire to spend more time with family. "My support for @elonmusk and the team is ironclad,' he said in the tweet. "I've got entire faith in them pushing Optimus to the next level, together with the broader Tesla AI/engineering & production teams. My departure now will not change a thing.' Musk praised Kovac and Elluswamy in a June 2 social media post as two "key people' in the company's artificial intelligence operations who "have been there from the beginning.' Musk is increasingly betting Tesla's future on robotics, along with artificial intelligence and driverless cars, as the traditional electric-vehicle business faces challenges. The automaker's sales have cratered in key markets due to lukewarm demand and a consumer backlash over the CEO's political activity. This week, Musk's relationship with President Donald Trump erupted into a public feud, raising further risks for Tesla on the regulatory front. Tesla drew attention in October when it used Optimus prototypes to tend bar and interact with guests at a flashy event in the Los Angeles area to generate investor enthusiasm for upcoming products. Bloomberg reported afterward that humans were used to remotely control some capabilities of the robots. Musk has said Optimus, which would handle many household tasks, could be "the biggest product ever of any kind.' The robots could eventually be available to consumers for US$20,000 (RM84,719) to US$30,000 (RM127,079) each, Musk has said. The robot's capabilities have long been closely watched by investors, even if the product's launch timing remains uncertain. Observers noted in 2022 when an early prototype had to be carried by people on stage. Brett Winton, chief futurist of Ark Investment Management, a sizeable investor in Tesla, said the firm doesn't factor Optimus directly into its five-year model for the company currently. It does monitor the robot's developments and the rapid acceleration of the sector and its potential market impact. "Elon Musk is not an easy person to work for, I think we can all say that with some assurance, and it's because he drives people hard,' Winton said in an interview on Bloomberg Television on Friday after Bloomberg published the report of Kovac's departure. "He is not satisfied by 'Oh, we'll get this done six months from now. He wants it done within the next 24 hours, and that drives his team into a maniacal sense of urgency, which is what you need when you are trying to make a dent,' Winton added. On the most recent Tesla earnings call, Musk said he expects to have thousands of Optimus robots working in Tesla's own facilities by the end of this year. He also predicted Tesla will be able to build millions of units per year by the end of the decade. – Bloomberg
Gulf Today
22-05-2025
- Business
- Gulf Today
Bayt Al Khair spent Dhs10,504,184 on humanitarian initiatives last month
Bayt Al Khair revealed that its total expenditure for April 2025 amounted to Dhs10,504,184, bringing the cumulative spending for the first four months of 2025 to Dhs85,954,842. Humanitarian support programmes topped the list, with expenditures totaling Dhs39,698,079 during the same period. These programmes aim to alleviate the hardships faced by individuals struggling with their livelihoods, addressing deficiencies beyond their financial capabilities. This expenditure is in addition to the monthly cash assistance projects targeting low-income Emirati families, which amounted to Dhs5,569,620 during the same period. The emergency assistance project falls under the "Fazaa" community solidarity programme, dedicated to relieving the burdens of modest families and those facing sudden crises or disabilities, enabling them to overcome their challenges and resume their normal lives. Through this initiative, "Bayt Al Khair" also provides humanitarian support to patients, both citizens and residents, via the "Treatment" project, which spent Dhs13,192,508 by the end of April. Additionally, the programme assists individuals burdened by debts they cannot repay through "Al Gharimin" project, which has expended Dhs3,118,087 so far.
Hans India
02-05-2025
- Business
- Hans India
Adani Ports logs record Rs 11,061-cr PAT in FY25
Ahmedabad: Adani Ports and Special Economic Zone Ltd (APSEZ) on Thursday reported an all-time high profit after tax (PAT) at Rs11,061 crore in FY25, up 37 per cent year-on-year. On a quarterly basis, the flagship company of the Adani Group posted an impressive 50 per cent PAT growth at Rs3,023 crore in Q4, up from Rs2,015 crore in the same period in FY24. Operating revenue grew by 16 per cent YoY to Rs31,079 crore in FY25, while domestic ports revenue increased 12 per cent to Rs22,740 crore (year-on-year). EBITDA was up 20 per cent at Rs19,025 crore (on-year). 'Our record-breaking performance in FY25, crossing Rs11,000 crore in PAT and handling 450 MMT cargo, is a testament to the power of integrated thinking and flawless execution,' APSEZ Whole-time Director and CEO, Ashwani Gupta, said. 'We have outperformed guidance across all metrics, expanded our footprint across India and globally, and transformed our logistics and marine verticals into engines of future growth,' he added. Mundra became the first port in India to cross 200MMT in a single year. Gupta further added that from Mundra Port crossing 200 MMT, to Vizhinjam Port rapidly achieving 100,000 TEUs, to the strategic acquisitions of NQXT and Astro Offshore — every milestone reflects our long-term vision to become the world's largest ports and logistics platform. For FY25, the APSEZ Board has recommended a dividend of Rs7 per share – a payout of Rs1,500 crore.
