Tesla Shifts Model S/X Line to Optimus Production as Shares Surge 13%

Tesla shares rose nearly 13% over three sessions to $418.62 in pre-market trading on July 1, fueled by accelerating AI and robotics momentum. The surge follows the June 28 completion of the AI5 chip tape-out on a 3nm process, delivering a 40x performance gain for Optimus robots and Cybercab vehicles. On July 1, Elon Musk announced the Fremont Model S/X production line has been repurposed to build Optimus units, with plans for 40 lines and a target of 1 million robots. Tesla is also advancing AI6 on 2nm and the Terafab foundry while releasing FSD v14 Lite.