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Tesla’s Optimus Humanoid Robot Program Chief Milan Kovac Resigns

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Milan Kovac, head of Tesla’s Optimus humanoid robot program, announced his departure from the company in a post on X on Friday, citing personal reasons for the decision. Kovac, who took charge of the program in 2022 as director of Optimus and Autopilot Engineering and was promoted to vice president in 2023, stated that his decision was driven solely by the need to spend more time with his family abroad.

“I’ve been far away from home for too long, and will need to spend more time with family abroad. I want to make it clear that this is the only reason,” Kovac said on social media.

According to Bloomberg News, which first reported the news, Kovac will leave his position immediately. Leadership of the Optimus program will now transition to Ashok Elluswamy, who currently heads Tesla’s Autopilot division. Neither Tesla nor Elluswamy have publicly commented on the leadership change.

Tesla CEO Elon Musk has previously emphasized the central role that the Optimus robot and full autonomy play in the company’s long-term future. “The only things that matter in the long term are autonomy and Optimus,” Musk told CNBC in May.

Musk has stated that Tesla aims to produce thousands of Optimus robots this year, though the project has faced supply chain obstacles. In April, Musk noted that China’s export restrictions on rare-earth magnets had affected production of the humanoid robots.

Tesla has increasingly focused its business strategy on autonomous technology, including both the Optimus robots and the company’s anticipated robotaxi service. Much of Tesla’s future valuation, Musk has indicated, is tied to the success of these initiatives.

Starlink Secures Indian License to Launch Satellite Services Amid Regulatory Hurdles

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Elon Musk’s Starlink has obtained a license from India’s telecom ministry to commence commercial satellite communications operations in the country, according to two sources speaking to Reuters. The approval marks a key milestone for Starlink, which has been pursuing entry into the Indian market since 2022.

Starlink becomes the third company to receive such a license from India’s Department of Telecommunications, joining Eutelsat’s OneWeb and Reliance Jio. While the telecom ministry and Starlink have not publicly commented on the development, sources indicate that Starlink still faces several regulatory steps before it can begin offering services.

The satellite operator must now secure a separate license from India’s space regulator, which it is reportedly close to obtaining. Beyond that, Starlink will need to acquire spectrum rights from the government, build local ground infrastructure, and conduct testing to meet stringent security requirements. The full process is expected to take several more months.

Musk previously met Indian Prime Minister Narendra Modi during Modi’s U.S. visit in February, where Starlink’s entry plans and India’s security concerns were discussed.

The licensing breakthrough arrives at a sensitive time for Musk. His feud with U.S. President Donald Trump over government contracts has put approximately $22 billion of SpaceX’s U.S. government work at risk, making Starlink’s international expansion even more crucial.

In a surprising twist earlier this year, Indian telecom giants Jio and Bharti Airtel announced they would stock Starlink equipment in their stores, despite directly competing in broadband services. Notably, Musk and Jio’s Mukesh Ambani had clashed for months over how satellite spectrum should be allocated in India. Ultimately, the Indian government sided with Musk’s preference for assigned rather than auctioned spectrum.

India’s telecom regulator has proposed a 4% annual revenue share fee for satellite providers, which some domestic firms argue is too low and could harm their businesses. Nevertheless, the Indian satellite broadband market is projected to reach $1.9 billion by 2030, according to Deloitte, attracting global competitors like Starlink and Amazon’s Kuiper, which is still awaiting licensing approval.

Elon Musk’s xAI Projects Over $13 Billion Annual Earnings by 2029, Bloomberg Reports

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Artificial intelligence startup xAI, founded by Elon Musk, expects to generate more than $13 billion in annual earnings by 2029, according to data shared by its banker Morgan Stanley, Bloomberg News reported on Thursday.

Morgan Stanley is seeking investors for a $5 billion debt sale by xAI and has disclosed the AI company’s financials to potential investors willing to commit at least $50 million. The figures reveal that xAI aims to reach $1 billion in gross revenue by the end of 2025 and $14 billion by 2029.

In the first quarter of this year, xAI reported $52 million in gross revenue but faced a loss of $341 million before interest, taxes, depreciation, and amortization (EBITDA). Projections show a rapid improvement, with EBITDA expected to rise to $2.7 billion by 2027 and hit $13.1 billion in 2029.

Like many AI startups, xAI is investing heavily in infrastructure, planning $18 billion in future data center investments following $2.6 billion in capital expenditures so far.

This financial unveiling coincides with a highly public spat between Elon Musk and former U.S. President Donald Trump, involving threats over government contracts. The effect of this dispute on xAI’s debt sale remains unclear.

In addition to the debt raise, xAI is reportedly targeting a valuation of $113 billion in a concurrent $300 million share sale.

Neither Morgan Stanley nor xAI has responded to Reuters requests for comment.