>>> US Early premarket gappers

Early premarket gappers
  • Gapping up:
    • AOUT +24.9%, BBCP +17.7%, IOT +14%, SWBI +13.5%, PL +10.8%, CURV +8.5%, PDEX +7.1%, NX +5.6%, AVXL +4.9%, BETR +4.3%, TTD +3.8%, UMC +3.5%, AMBA +2.6%, BSVN +2.5%, BETA +2.1%, SIMO +1.5%, IONS +1%, FLEX +0.9%, BROS +0.9%, PHR +0.9%
  • Gapping down:
    • EGAN -21.7%, LULU -19.4%, GWRE -15.2%, OXM -13.9%, ASAN -12%, PATH -8.3%, BILI -3.7%, ADBE -3.1%, ZS -3%, BALY -2.6%, BEN -1.9%, RGP -1.4%, AMRX -0.9%

>>> Europe : Brokers Upgrades & Downgrades - 4th of Sept 2026 V3(++)

>>> Up
* Accor Raised to Overweight at Morgan Stanley; PT 55 euros
* ACS Raised to Buy at Bestinver; PT 124.50 euros
* Altra Fastigheter Price Target Raised to SEK 90 from SEK 85 by Nordea
* AT&S Raised to Outperform at Oddo BHF; PT 220 euros
* Computacenter PT Raised to 7,000 pence from 5,250 pence at UBS (++)
* Continental Raised to Outperform at Oddo BHF; PT 84 euros
* GTT Raised to Buy at Berenberg; PT 245 euros
* Hilton Food PT Raised to 850 pence at Deutsche Bank (+)
* Microsoft PT Raised to $530 from $450 at Stifel (++)
* Note Raised to Buy at SEB Equities; PT 197 kronor
* Prysmian Raised to Outperform at Oddo BHF; PT 153 euros
* Renishaw Raised to Buy at BofA; PT 5,400 pence (++)
* RENK Group Raised to Buy at mwb research AG; PT 48 euros (++)
* Roche Price Target Raised to CHF 415 from CHF 380 by Bank of America
* Sanlorenzo/Ameglia PT Raised to 49.50 euros from 47 euros at UBS (++)
* Shell Raised to Overweight at Morgan Stanley; PT 3,780 pence
* Shell ADRs Raised to Overweight at Morgan Stanley
* Vodafone Raised to Buy at Goldman; PT 155 pence
* Vodafone ADRs Raised to Buy at Goldman; PT $20.93

>>> Down
* Ambarella PT Cut to $90 from $106 at Stifel (++)
* BBVA Cut to Underweight at JB Capital Markets; PT 24 euros
* Bodycote Cut to Hold at Berenberg; PT 933 pence
* Bunzl Cut to Neutral at BNP Paribas; PT 2,950 pence (++)
* Castellum Cut to Neutral at Van Lanschot Kempen; PT 130 kronor (+)
* Cellnex Cut to Sell at Goldman; PT 26 euros
* Cirsa Enterprises Cut to Equal-Weight at Morgan Stanley
* Clas Ohlson Cut to Hold at Nordea
* Daimler Truck Cut to Equal-Weight at Morgan Stanley; PT 50 euros
* Elisa Cut to Neutral at Goldman; PT 38 euros
* Ipsos Cut to Hold at Kepler Cheuvreux; PT 44 euros (++)
* J D Wetherspoon Cut to Underweight at Morgan Stanley
* Kuehne + Nagel Cut to Underweight at Morgan Stanley
* Lonza Price Target Raised to CHF 630 from CHF 610 by Bank of America
* Lululemon PT Cut to $100 from $134 at Stifel (++)
* Lululemon PT Cut to $95 from $154 at JPMorgan (++)
* Lululemon PT Cut to $115 from $145 at Bernstein (++)
* Senior Cut to Hold at Berenberg; PT 300 pence
* Telenor Cut to Neutral at Goldman; PT 150 kroner
* Vivendi Cut to Hold at Kepler Cheuvreux; PT 1.80 euros (++)
* Voltalia Cut to Hold at TP ICAP Midcap; PT 6.90 euros (++)
* Vontobel Cut to Underperform at ZKB (+)
* Wihlborgs Cut to Sell at Van Lanschot Kempen; PT 70 kronor (+)

>>> Initiation
* GTT Rated New Overweight at Barclays; PT 275 euros (++)
* Microsoft Reinstated Buy at William O'Neil

>>> Call
* Accor Gains as Morgan Stanley Upgrades on Demand, Low Valuation (++)
* AT&S Extends Surge as Oddo Upgrades on Soaring Sales Estimates (++)
* Continental Shares Rise Most in Two Months on Oddo BHF Upgrade (++)
* Daimler Truck Cut at MS as Rally Leaves Sector Less Attractive (+)
* Ipsos Falls as Kepler Downgrades, Sees Risks from CEO Changes (++)
* Moderna Dips as Rothschild Says Stock ‘Overvalued,’ Cuts to Sell
* Shell Upgraded to Top Pick by Morgan Stanley on Dividend Growth (+)

WSJ : German Manufacturing Recovery Continues as Orders Climb for Third Straight

German Manufacturing Recovery Continues as Orders Climb for Third Straight Month
July orders rose 2.5% on month, after an upwardly revised 3.7% rise in June

  • German factory orders rose 2.5% in July, marking a third consecutive monthly increase despite surging energy prices.
  • The increase beat expectations from a Wall Street Journal poll of economists, which had anticipated a 0.1% decline.
  • Almost all of July’s rise in orders was driven by larger orders of transport equipment, including aircraft, ships, trains and military vehicles.

Manufacturing orders in Germany climbed again in July, another signal of the country’s tentative industrial recovery that is defying the impact of surging energy prices as the conflict in the Middle East persists.

Factory orders in the eurozone’s largest economy rose 2.5% on month, following an upwardly revised 3.7% rise in June, data agency Destatis said Friday. A consensus of economists polled last week by The Wall Street Journal had expected a small fall of 0.1%.

That marked a third consecutive monthly increase, continuing a decent run of industrial data even as the war in Iran sent oil-and-gas prices higher. Orders were 13.1% higher than the same month of last year. Industrial-production data for July is due on Monday, having also risen for the prior three straight months.

Almost all of July’s rise in orders was due to larger orders of transport equipment, a grouping of goods that includes ships, trains, aircraft and military vehicles, Destatis said.

Excluding larger orders worth more than 50 million euros, or $58.1 million, orders declined slightly.

However, despite the mixed results, the already high order backlogs in a number of different sectors will likely contribute to a further firming up of the manufacturing sector, Deutsche Bank economist Marc Schattenberg said.

Stockpiling could still be propelling the overall upturn as supply constraints continued to exert an impact with the closure of the Strait of Hormuz.

Much of the increase in July was driven by a 4.3% jump in intermediate goods orders—those used to make other products like chemicals or semiconductors. Since consumer products orders declined 4.8%, it suggests those intermediate goods aren’t being immediately turned into final products.

That could mean some of the industrial upturn that has helped the German economy might reverse in the second half of the year as stockpiling subsides.

But looking ahead, there appears to be no immediate setback. Production activity growth was the strongest in August since January 2022, driven by a jump in orders, according to purchasing managers’ surveys published this week.

Despite energy prices continuing to inch higher as Middle East tensions escalate, and heatwaves stymieing flow of goods through the River Rhine, business expectations among manufacturers are now the strongest since February, before the first U.S.-Israeli strikes on Iran, the survey showed.

Headwinds could emerge from the country’s traditionally key car industry, where orders in July sank back 12.5% on month. Symbolizing the shifts taking place in the sector, the board of auto giant Volkswagen on Thursday approved 50,000 more job cuts and a halving of its model portfolio as it pivots its strategy amid Chinese competition.

The European Central Bank is expected to raise its key interest rate next week, which could squeeze financing conditions for some manufacturers.

However, the manufacturing sector is expected to contribute more to Germany’s economic growth than at the start of 2026. The Ifo Institute, a German economics think tank, on Thursday raised its expectations for growth this year, noting that orders have steadily improved and export expectations have recently climbed significantly.

Domestic demand climbed in July, a factor that is set to continue as hundreds of billions of euros in fiscal stimulus from the German government continue to flow to defense and infrastructure projects.

>>> Europe : Brokers Upgrades & Downgrades - 4th of Sept 2026 V2(+)

>>> Up
* Accor Raised to Overweight at Morgan Stanley; PT 55 euros
* ACS Raised to Buy at Bestinver; PT 124.50 euros
* Altra Fastigheter Price Target Raised to SEK 90 from SEK 85 by Nordea
* AT&S Raised to Outperform at Oddo BHF; PT 220 euros
* Continental Raised to Outperform at Oddo BHF; PT 84 euros
* GTT Raised to Buy at Berenberg; PT 245 euros
* Hilton Food PT Raised to 850 pence at Deutsche Bank (+)
* Note Raised to Buy at SEB Equities; PT 197 kronor
* Prysmian Raised to Outperform at Oddo BHF; PT 153 euros
* Roche Price Target Raised to CHF 415 from CHF 380 by Bank of America
* Shell Raised to Overweight at Morgan Stanley; PT 3,780 pence
* Shell ADRs Raised to Overweight at Morgan Stanley
* Vodafone Raised to Buy at Goldman; PT 155 pence
* Vodafone ADRs Raised to Buy at Goldman; PT $20.93

>>> Down
* BBVA Cut to Underweight at JB Capital Markets; PT 24 euros
* Bodycote Cut to Hold at Berenberg; PT 933 pence
* Castellum Cut to Neutral at Van Lanschot Kempen; PT 130 kronor (+)
* Cellnex Cut to Sell at Goldman; PT 26 euros
* Cirsa Enterprises Cut to Equal-Weight at Morgan Stanley
* Clas Ohlson Cut to Hold at Nordea
* Daimler Truck Cut to Equal-Weight at Morgan Stanley; PT 50 euros
* Elisa Cut to Neutral at Goldman; PT 38 euros
* J D Wetherspoon Cut to Underweight at Morgan Stanley
* Kuehne + Nagel Cut to Underweight at Morgan Stanley
* Lonza Price Target Raised to CHF 630 from CHF 610 by Bank of America
* Senior Cut to Hold at Berenberg; PT 300 pence
* Telenor Cut to Neutral at Goldman; PT 150 kroner
* Vontobel Cut to Underperform at ZKB (+)
* Wihlborgs Cut to Sell at Van Lanschot Kempen; PT 70 kronor (+)

>>> Initiation
* Microsoft Reinstated Buy at William O'Neil

>>> Call
* Daimler Truck Cut at MS as Rally Leaves Sector Less Attractive (+)
* Moderna Dips as Rothschild Says Stock ‘Overvalued,’ Cuts to Sell
* Shell Upgraded to Top Pick by Morgan Stanley on Dividend Growth (+)

WWD : Hermès May Be a Bellwether for China’s Luxury Rebound The luxury leader co

Hermès May Be a Bellwether for China’s Luxury Rebound
The luxury leader continues to outpace its peers, but tougher comparisons, a slower growth rate in China and a narrowing premium are lowering shares.

PARIS — Hermès has fallen a long way from its highs this year. But the more interesting question for the luxury bellwether may not be whether the company is in trouble — it is whether investors have become too accustomed to it being exceptional.

The shares are down roughly 32 percent from their 52-week high of around 2,300 euros to about 1,570 euros, even though Hermès continues to outpace its rivals LVMH Moët Hennessy Louis Vuitton and Kering.

Still, on Aug. 18, RBC downgraded the stock from “outperform” to “sector perform,” cutting its price target from 1,900 euros to 1,700 euros.

It’s less about the Hermès brand than about the extraordinarily high expectations now weighing down the market leader.

“The growth premium that justified its valuation premium vs the sector is converging,” said RBC Capital Markets analyst Piral Dadhania in the report, estimating that Hermès’ revenue and EBIT growth advantage over the luxury sector will narrow to about two percentage points from 2027, versus eight points in 2025.

While that still puts the Birkin bag maker ahead of the pack, RBC sees Hermès’ lead over the wider luxury sector slowing to a trot.

That raises a bigger question for Hermès and the luxury industry itself, particularly if the long-awaited Chinese luxury rebound scenario continues to look different from what investors once expected.

Deborah Aitken, senior luxury analyst at Bloomberg Intelligence, said she once expected China to become a much larger part of the global luxury market.

“Pre-COVID, I used to say that within five years China would be one-third of the market for luxury goods, and now it’s less than half that,” she said.

Aitken estimates that China is now around 15 percent of the luxury market and that the industry has “lost around 9 to 10 percent of the luxury market since 2019 from China.”

That does not mean Chinese consumers have stopped buying luxury. In fact, Aitken sees the market returning to growth.

“For me, I feel that the market is coming back; that we’re getting midsingle-digit growth,” she said.

Aitken expects the wider luxury market to grow 4 to 5 percent this year and next, but the recovery will look different from the rebound that followed the pandemic.

“We’re back in growth, and we are back in value because of pricing having been raised in the last three years from the luxury goods groups. But we’re not necessarily back to volume growth,” she said.

For Hermès, that could be particularly important. The brand has been one of the biggest winners of luxury’s post-pandemic “revenge spending” boom, but it is now operating from a much larger base.

“[For] Hermès, almost half of its sales are from the Asian markets. It’s one of the highest exposed of the traditional luxury peers,” Aitken said. “It’s only this year where it faces two very solid years of growth in Asia, and also the fact that it’s more than three times the size it was pre-COVID. So it needs a lot more volume” to make the comparison numbers.

Still, there is little evidence that Hermès itself has lost its shine in China.

“I don’t think that there’s brand fatigue on Hermès,” Aitken said. Instead, she sees a more discerning consumer, with spending increasingly spread across different price points and brands.

For Hermès, she described the current environment as “more of a sticky year, more of a difficult year in China for them.”

China is growing again, although not at the pace the analysts and shareholders had once expected. The company’s third-quarter results on Oct. 22 may offer a clue as to whether the luxury industry is in a reset.

WWD : Brunello Cucinelli Is Ready for His Big Paris Moment He is inaugurating hi

Brunello Cucinelli Is Ready for His Big Paris Moment
He is inaugurating his new Paris flagship and screening his autobiographical documentary — plus it's his birthday.

Brunello Cucinelli is celebrating his birthday in Paris this year, and in grand style: officially inaugurating his new flagship on Thursday, screening the documentary “Brunello: The Gracious Visionary,” and hosting a brunch, cocktail party and black-tie dinner.

And yes, he assured, there will be cake — or some sweet dessert.

Located at 277 Rue Saint-Honoré, the Paris flagship sprawls over seven floors and roughly 30,000 square feet. The address encompasses three levels of retail, plus an employee lunchroom, an expansive alterations atelier along with dedicated spaces for fittings and bespoke consultations.

The cherry on the cake, still under construction, is a private apartment on the top floor where the brand can host and entertain press, clients, business partners and friends of the house.

The common thread running through the entire complex is warm hospitality — and conviviality.

“Across all our stores in the world, what we want is that as soon as you step inside, you feel at home,” Cucinelli said in an exclusive interview over Zoom. “We would like you to step in and feel a serene, peaceful atmosphere.”

It’s a feeling supported by soothing, natural colors and materials; airy volumes; legible merchandising; multiple places to lounge and have a drink dotted throughout the store, and a staff trained to treat first-time visitors and big spenders with the same kindness, grace and attentiveness.

Indeed, the Italian designer bristles at the oft-used industry term “VIC,” shorthand for very important clients.

“For me, VICs or VIP clients, they’re exactly the same as all the others,” he said, waving his hands and flashing a big smile. “Regardless of whether you buy one sweater or seven sweaters, you will be considered and treated the same way.

“This is really our corporate philosophy,” he stressed. “For us VICs, they do not really exist. They are just customers, and we want to treat them all the same.”

Store staff are trained “to be welcoming, polite and kind, because it is a time in the world when we need more politeness and kindness everywhere at all levels,” Cucinelli said. “I don’t want our sales staff to be pushy and to hustle customers because I know it myself. If I’m treated that way, if I’m pushed [to spend] in a store, I will stop going there.

“Also, we have a built-in bar, and a small café inside all the stores, so that when you step inside, you can have your cappuccino, your croissant, your pastry, which is typical of the Italian way,” the designer added.

A narrow atrium that lets light flood into the narrow, but deep retail spaces has been appointed with café tables where customers can sip a hot beverage, or perhaps even smoke a cigar.

The Paris store has been open since last December and — like all other Brunello Cucinelli units — bears a bespoke decor concept linking the spirit of Solomeo, the medieval village in Italy’s Umbria region where his company is headquartered, and the host city.

Cue French moldings and geometric Parisian floorboards mingling with Italian materials like travertine marble. Birdseye maple recurs as a detail on furniture and banisters, along with subtle copper details and velvet seating.

As in a home, artworks, books and ceramics are dotted throughout, along with such vintage finds as 1930s wood carvings and a 1970s light fixture in smoky glass.

All product categories are represented across womenswear, menswear, kidswear, accessories, eyewear and fragrances, alongside select home and travel pieces.

The store is large enough to accommodate a host of spacious fitting rooms, and a dedicated salon for special-occasion dressing.


Cucinelli is famed for his philosophical musings, and he did not miss a chance to quote some important French thinkers and political figures, name-checking Jean-Jacques Rousseau, Voltaire and Napoleon Bonaparte.

“Rousseau and Voltaire are like two advisers standing here beside me,” said Cucinelli, who was dressed in a crisp white shirt and seated in front of a vast shelf dotted with colorful books, spools of thread and classical busts.

“French thinkers have always played a great pivotal role in my personal culture,” he said, paraphrasing Voltaire’s famous quote about the importance of embracing change, and Rousseau’s on the unique nature of each individual.

Holding the role of executive chairman and creative director of the company he founded in 1978, Cucinelli is also a staunch supporter of Made in Italy production, leveraging the expertise of the artisans in Solomeo’s Umbria region, a storied knitwear hub.

Publicly traded since 2012, his namesake company registered revenues of 1.43 billion euros last year.

During the interview, Cucinelli stressed the importance of the French market, and Paris as a historic cradle of couture and a benchmark of success in womenswear.

The designer’s first step in Paris came about 37 years ago, when he sold his collection to Victoire, a tony multibrand boutique on the Place des Victoires operated by Patricia Compain.

“It was a 70-square-meter store, and there was always a queue outside,” Cucinelli recalled. “Patricia would always say, ‘It’s better to have a small location and a queue outside rather than a large, empty store.'”

The new Paris flagship, located steps away from Rue Royale, replaces a smaller unit that operated at 54 Rue du Faubourg Saint-Honoré and went dark last March.

The company also boasts a freestanding boutique at 179 Boulevard Saint-Germain on the Left Bank of Paris — its first in the French capital — and another at 14/16 Avenue Montaigne, in addition to shops-in-shop at Printemps and Le Bon Marché.

Cucinelli said it took almost four years to find his desired location on Rue Saint-Honoré, prized by fashion companies for its concentration of luxury brands and, more recently, prestige fragrance houses.

His nearby fashion neighbors include the historic Paris flagship of Chanel, plus Dior, Valentino, Celine, Burberry, Chloe, Fendi, Christian Louboutin, Balmain and McQueen.

“This is a very noble, important street,” the designer said, noting he chose other iconic addresses for other key flagships, including Madison Avenue for New York, Via Monte Napoleone for Milan and New Bond Street for London.

Cucinelli chose to schedule the inauguration in tandem with the documentary screening, which is why it landed on his birthday. “The date worked well for both occasions,” he offered.

Following its world premiere last December in Rome at Cinecittà, the documentary was released in Italian theaters.

It was then screened at Lincoln Center in New York last April amid a black-tie gala, and released in North American theaters last July.

Additional premieres are planned for Shanghai on Oct. 22 and Hong Kong on Oct. 24. It will also premiere in Tokyo, but the date is not yet scheduled.

Directed by Academy Award winner Giuseppe Tornatore and starring young Italian talent Saul Nanni as the young Cucinelli, the two-hour movie takes a look at the entrepreneur’s life and company, merging the worlds of philosophy and work.

The film is part fictional, part documentary and revisits pivotal moments of the Italian designer’s life, from his childhood in the countryside to his transformation of Solomeo into a symbol of his vision of “humanistic capitalism.”

Archival footage and personal recollections are blended in the movie, alongside testimonials from the closest people to him. These include the American celebrities Patrick Dempsey and Oprah Winfrey.

CrunchBase : Former Apple Engineers’ Physical AI Startup Lyte Raises $165M At $1

Former Apple Engineers’ Physical AI Startup Lyte Raises $165M At $1.6B Valuation

Lyte, a physical AI startup building sensing and perception technology for robots, has raised $165 million in Series C funding at a $1.6 billion post-money valuation.

The financing, led by Maverick Silicon, brings Lyte’s total raised to $272 million. Fidelity Management And Research Co., which led Lyte’s Series B, also participated in the Series C, along with Atreides Management, Key1 Capital, Ora Global (formerly Exor Ventures), and additional existing and new investors.

The Sunnyvale, California-based company was founded in 2021 by Alexander Shpunt, Arman Hajati and Yuval Gerson — a trio of former Apple engineers who worked on the iPhone giant’s advanced sensing and perception technologies. Shpunt had also previously co-founded PrimeSense, a startup whose 3D-sensing technology powered Microsoft Kinect before Apple acquired the company in 2013.

The trio’s past work helped bring 3D perception to the mainstream and later became a foundation for Apple’s Face ID technology.

Lyte is building custom silicon, 4D sensing, RGB, motion awareness and AI software to help robots sense where they are and what is moving around them. Initially, its customers are primarily in the warehousing and manufacturing industries.

The startup operated in stealth until earlier this year when it emerged and announced it had raised $107 million in Series A and B funding.

‘A new kind of perception’
“Physical AI will create entirely new categories of robots, and every one of them will need to understand the world around it,” CEO Shpunt told Crunchbase News via email. “That requires a new kind of perception: precise, real-time understanding of geometry and motion that machines can trust enough to act on. We built Lyte to become the perception foundation for that future.”

Funding in the physical AI space has exploded in recent years. In the first half of 2026, global venture funding in the space totaled $47.4 billion across 521 deals, per Crunchbase data. That’s up dramatically — almost 4x — compared to the second half of 2025 when physical AI startups raised $12 billion across 470 deals. It’s also up significantly — by nearly 80% — from the $26.4 billion raised across 436 deals in the first half of 2025.


Andrew Homan, managing partner at Maverick Silicon, joined Lyte’s board of directors as part of the funding round.

“Lyte is building a foundational sensing platform that enables a wide range of robots to perceive and understand the world around them,” he said in a release. “The breadth and diversity of early customer demand strengthen our conviction that Lyte is poised to become one of the defining technology companies of the robotics era.”

TechCrunch : Crusoe reportedly raises $3B at a $30B valuation Data center develo

Crusoe reportedly raises $3B at a $30B valuation

Data center developer Crusoe, which counts Meta, Microsoft, and OpenAI as its customers, has raised a new $3 billion round at a $30 billion valuation, Bloomberg reported.

The deal is being co-led by Atreides Management and Valor Equity Partners, and includes participation from Mubadala Capital, the asset management subsidiary of Abu Dhabi’s sovereign wealth fund Mubadala.


The company recently signed a massive $13 billion, five-year cloud contract to supply quantitative trading firm Jane Street with GPUs and AI infrastructure, Bloomberg reported.

The fresh fundraise comes 10 months after Crusoe raised a $1.38 billion round at a $10 billion valuation last October.

Launched in 2018 as a crypto mining operation powered by flared natural gas, Crusoe has since pivoted into a major AI infrastructure and cloud provider that is best known for developing hyperscale data center campuses for clients like Oracle and OpenAI.

The company recently met with investment bankers, including Goldman Sachs and Morgan Stanley, to discuss a potential near-term IPO, Axios reported last month.

TechCrunch : Tesla is asking people if they want to buy and run Cybercab fleets

Tesla is asking people if they want to buy and run Cybercab fleets

Tesla published a form on Thursday for businesses interested in buying Cybercab fleets or providing infrastructure for its network, the latest sign that the company’s aspirations for its gold-hued autonomous vehicle stretch beyond being a robotaxi operator.

The robotaxi interest form, which was released ahead of the company’s Cybercab event in Austin, is not definitive proof that Tesla will sell its autonomous vehicles to third-party operators. But it’s certainly an indicator of where the company’s longer-term plans lie. Tesla wants to scale and it doesn’t seem to want to do it alone.

Tesla CEO Elon Musk has talked often, and for years, about building a massive fleet of low-cost robotaxis. But in the early days, those dreams centered on personally owned Tesla vehicles. As early as 2016, Musk spoke publicly about a future in which Tesla owners, equipped with self-driving software, would be able to earn money by renting out their vehicles. He stuck with that Tesla network idea for years, noting at the company’s Autonomy Day in 2019 that it would allow owners to add their autonomous vehicles to its ride-sharing app, similar to how Uber’s business model works.

“I feel very confident predicting that there will be autonomous robotaxis from Tesla next year — not in all jurisdictions because we won’t have regulatory approval everywhere,” Musk said in 2020.

That vision never materialized. Instead, the company has focused on testing, and now operating, its own fleet of robotaxis — first with Tesla Model Y vehicles and now the purpose-built Cybercab.

Until now, Tesla seemed committed to keeping its robotaxi business in-house. The interest form, which says “helps us build our robotaxi network,” suggests the company sees promise and profits in widening the circle to include third-party companies.

What that might look like, though, isn’t defined. The company asks interested parties to pick one of several possible options, including Cybercab fleet purchasing, mobility hubs and infrastructure, event collaboration, and “other.”

There are a growing number of companies jumping into the robotaxi fleet management business. For instance, Moove, an African fintech startup that initially focused vehicle financing for ride-hailing drivers, is scaling up an autonomous fleet management business. The startup, which raised $250 million last month at a $2.1 billion valuation, is the fleet operator for Waymo in Phoenix, Miami, and Las Vegas, and in the future, London. The company doesn’t own the Waymo vehicles, but its CEO told TechCrunch that it plans to.

Other autonomous fleet management companies, which Uber has partnered with in its bid to own a piece of the robotaxi market, include Avomo and New Horizon as well as larger more traditional rental car giants like Avis and Hertz.

Tesla’s welcome mat to fleet operators could encourage more small players to open up shop — helping the company saturate markets faster.

>>> Europe : Brokers Upgrades & Downgrades - 4th of Sept 2026

>>> Up
* Accor Raised to Overweight at Morgan Stanley; PT 55 euros
* ACS Raised to Buy at Bestinver; PT 124.50 euros
* Altra Fastigheter Price Target Raised to SEK 90 from SEK 85 by Nordea
* AT&S Raised to Outperform at Oddo BHF; PT 220 euros
* Continental Raised to Outperform at Oddo BHF; PT 84 euros
* GTT Raised to Buy at Berenberg; PT 245 euros
* Note Raised to Buy at SEB Equities; PT 197 kronor
* Prysmian Raised to Outperform at Oddo BHF; PT 153 euros
* Roche Price Target Raised to CHF 415 from CHF 380 by Bank of America
* Shell Raised to Overweight at Morgan Stanley; PT 3,780 pence
* Shell ADRs Raised to Overweight at Morgan Stanley
* Vodafone Raised to Buy at Goldman; PT 155 pence
* Vodafone ADRs Raised to Buy at Goldman; PT $20.93

>>> Down
* BBVA Cut to Underweight at JB Capital Markets; PT 24 euros
* Bodycote Cut to Hold at Berenberg; PT 933 pence
* Cellnex Cut to Sell at Goldman; PT 26 euros
* Cirsa Enterprises Cut to Equal-Weight at Morgan Stanley
* Clas Ohlson Cut to Hold at Nordea
* Daimler Truck Cut to Equal-Weight at Morgan Stanley; PT 50 euros
* Elisa Cut to Neutral at Goldman; PT 38 euros
* J D Wetherspoon Cut to Underweight at Morgan Stanley
* Kuehne + Nagel Cut to Underweight at Morgan Stanley
* Lonza Price Target Raised to CHF 630 from CHF 610 by Bank of America
* Senior Cut to Hold at Berenberg; PT 300 pence
* Telenor Cut to Neutral at Goldman; PT 150 kroner

>>> Initiation
* Microsoft Reinstated Buy at William O'Neil

>>> Call
* Moderna Dips as Rothschild Says Stock ‘Overvalued,’ Cuts to Sell