South Korean battery materials producer L&F disclosed that the projected 2023 supply agreement with Tesla has collapsed in value from an originally estimated $2.9 billion to just $7,386. The abrupt downgrade reflects a near-total erosion of anticipated volumes; L&F had planned to deliver multiple kilotonnes of cathode precursor annually to Tesla’s gigafactory in Nevada. The revised figure is so small it suggests deliveries did not proceed beyond initial trial batches, raising questions about Tesla’s raw‐material sourcing strategy and the financial impact on L&F’s 2023 revenue forecasts.

Several large funds increased their Tesla stakes in recent quarters. Blue Trust Inc. boosted its position by 14.1%, acquiring 1,794 additional shares to hold 14,540 total. Cwm LLC added 22,757 shares, lifting its Tesla holding to 374,543 shares. Meanwhile, Norges Bank opened a new position worth nearly $11.84 billion, and Kingstone Capital Partners Texas LLC expanded its stake by more than 580,000%, adding 6.44 million shares. Collectively, these moves underscore growing institutional confidence in Tesla’s long-term prospects despite valuation debates.

Elon Musk saw his net worth swell by $205 billion in 2025, reaching $638 billion and outpacing Google’s Larry Page and Sergey Brin combined. That gain stemmed largely from Tesla’s market-cap climb. In September, Musk invested $1 billion of his own capital to purchase shares at an average cost basis of approximately $396. By the end of December, that position was up roughly 20%, translating into an unrealized profit approaching $200 million over 106 days. His continued personal capital commitment has signaled conviction to other investors.

Elon Musk publicly cautioned that China’s plan to restrict silver exports from January is "not good," noting on social media that silver remains critical for industrial processes, including EV battery manufacturing. Spot silver has surged to record highs, briefly trading near $80 per ounce, as physical tightness intensifies. Any Chinese export constraints could exacerbate supply shortages for manufacturers worldwide, potentially impacting Tesla’s production cost inputs for components that rely on silver’s conductive properties.