Tesla Robotaxis, Meta to buy Scale AI, Netflix in Spain

While there has so far been limited reaction to the US-China trade deal in broader markets on Wednesday, 11 Jun, there is a plethora of updates from top companies. 

Elon Musk has said Tesla (TSLA) Robotaxi rides will tentatively begin on 22 June, Meta Platforms (META) is reportedly planning to take a $14 billion stake in Scale AI and Netflix (NFLX) is making a major push into Spain with a $1 billion investment.

Here’s what you need to know:

TSLA, META, NFLX Price Performance

Not being part of the Magnificent 7 has not held back Netflix stock, which has been the standout performer among these three stocks over a two-year timeframe and year-to-date. Meta Platforms stock sits just below their record high, while Tesla stock has been highly volatile, still well off record highs.

*Past performance does not indicate future results 

Tesla

Tesla CEO Elon Musk shared on X (formerly Twitter) Tuesday that Tesla Robotaxi rides could tentatively launch in Austin, Texas, starting on 22 June. This follows an earlier update that the rollout would begin sometime in June.

Musk said earlier that Tesla will start the Robotaxi services with 10-20 Model Y Tesla EVsrunning the new “unsupervised” version of “Full Self-Driving” (FSD). The taxis will initially only operate in a small geographic area and will be supervised by Tesla employees.

Tesla’s share price has been particularly volatile in recent days. The latest Robotaxi news helped the stock rebound following a heavy 14% decline brought about by fear over the repercussions of Musk’s public spat with US President Donald Trump. Tesla’s companies have large government contracts, which Trump had threatened to cancel to save money in response to Musk’s criticism of Trump’s “Big Beautiful Bill.” (Source: Yahoo Finance)

Meta

While a deal has not yet been finalised, reports suggest a stake in artificial intelligence startup Scale AI, close to $15 billion, is forthcoming. As part of the deal, Facebook and Instagram-parent Meta Platforms will hire Scale AI CEO Alexandr Wang.

Meta Founder and CEO Mark Zuckerberg is apparently unsatisfied with his company’s progress in AI and is bringing in outside help (at high cost) to catch up with the competition, including OpenAI.

Founded in 2016, Scale AI has become a key player in the generative AI boom. It helps tech giants like OpenAI, Alphabet (GOOGL), and Microsoft (MSFT) prepare the data needed to train their advanced AI models. Meta ranks among Scale AI’s largest customers. About a year ago, the startup was valued at around $14 billion in its most recent funding round. (Source: CNBC)

Netflix

Netflix co-CEO Ted Sarandos announced Tuesday, 10 June, that the company plans to invest more than US$1.14 billion in Spain over the next four years. The announcement, made at Netflix’s European Production Hub in Madrid, coincided with Netflix’s tenth anniversary in Spain.

Joining Sarandos was Prime Minister Pedro Sánchez, who has championed Spain’s growth in the audiovisual sector through the “Spain Audiovisual Hub” plan, launched in 2021, aimed at positioning the country as a global leader in audiovisual production, including films, ads, music videos, series, and video games.

Netflix stock struck a record high last week, continuing the momentum supported by a big beat in Q1 earnings reported on 17 April. This was the first quarterly earnings report that did not include an update on subscriber data.

Conclusion

The day's headlines show how major players are betting big on innovation and global growth. Tesla’s robotaxi rollout, Meta’s strategic AI investment, and Netflix’s ambitious expansion in Spain show how these decisions could shape each company's next chapter, even as broader market sentiment is impeded by geopolitical uncertainty.

*Past performance does not indicate future results