AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
Australia ASIC Tightens Auditor Oversight After KPMG Leak Scandal 
Nike Shifts China Online Sales Strategy to Boost Brand and Fight Local Rivals 
Alaska Air Q3 Outlook Misses Estimates as Higher Fuel Costs Weigh on Profit Forecast 
Ryanair Warns Summer Airfares May Stay Lower as Quarterly Profit Misses Estimates 
Intel, AMD Seek Long-Term China Server CPU Deals as AI Demand Drives Supply Crunch 
Samsung Cuts U.S. Consumer Electronics Jobs as Headquarters Moves to Texas 
Nvidia Reveals 9.3% Stake in AI Cloud Firm Nebius Following $2 Billion Investment 
Super Micro Computer Stock Jumps 20% After Record AI Orders and Margin Surge 
IBM Q2 Earnings Miss Estimates as Software Growth Offsets Infrastructure Weakness 
GM Q2 Earnings Beat Estimates as General Motors Raises 2026 Profit Outlook 
Domino’s Weighs Appeal After Australian Court Rules Workers Were Misled on Pay 
Alphabet Q2 Earnings Beat Estimates as AI Spending, Google Cloud Growth Fuel Outlook 
Chalco Shares Jump as Chinalco Plans Up to $300 Million Stake Increase 
ASML Trillion-Dollar Valuation: Can Europe’s AI Chip Giant Reach the Historic Milestone? 
Judge Approves Anthropic’s $1.5 Billion AI Copyright Settlement With Authors 
Tesla has introduced an exciting new referral program that slashes $1,000 off the price of a new car, creating a win-win for both buyers and those who refer them.
Tesla Launches New Referral Program with $1,000 Discount
Shortly after discontinuing its predecessor a few months ago, Tesla introduced a brand new referral program.
After deciding to discontinue its prior referral program in May, Tesla introduced a new one on Saturday through its mobile app. The new scheme is more like a flat-out gift card than a referral credit system, and you can use it for everything from merchandise to Supercharging and beyond.
Referrers Earn $500 in Tesla Credits
Teslarati shares that the newly introduced method offers a $1,000 discount on new Tesla purchases to the first ten persons who utilize a referral link and $500 to the referrer toward Supercharging, supplies, accessories, service payments, or a new car.
Anyone who buys a referral vehicle is entered to win a pass to one of Tesla's future events.
The new referral program is available to users through the Tesla mobile app v4.36.1. For additional information on how the program works, visit Tesla's website here.
Musk Acknowledges Costs of Referral Programs
Elon Musk has warned shareholders about the costs of implementing a recommendation program, but he has repeatedly stated this year that Tesla plans to launch one. Musk made it clear in April that existing referral points would remain usable until the new program was introduced.
"I think we’ll re-examine the referral program probably next quarter," Musk stated during Tesla's June Annual Shareholder's Meeting.
Musk Addresses Impact on Vehicle Prices
Continuing the discussion, Musk brought up the fact that the recommendation program at Tesla raises the price of each vehicle sold, which may have an impact on the customer in the long run. He went on to clarify that he is in favor of referral arrangements of some kind and that he intends to discuss the new program sometime this quarter.
“But we’ll re-examine that I think in, next quarter and see if it makes sense,” Musk continued. “I think some kind of referral program does make sense.”
When their link was used, referrers would get 7,500 credits instead of the 10,000 credits offered in the prior referral program. In addition, since the program started, Tesla has periodically added, removed, or adjusted referral rewards as needed.
