Several reasons for TSLA's rise today: 1/ Merger expectation premium: The market increasingly believes SpaceX will acquire Tesla entirely in stock, allowing shareholders to receive a premium. 2/ Fundamental recovery: The automotive business is recovering after two years of decline; energy storage is almost sold out by 2027, and data center demand is expected to drive shipment growth exceeding 50%. 3/ Robotaxi acceleration: Unmanned mileage reached 3.1 million miles, a nine-fold increase in three months; FSD adoption rate in new North American vehicles exceeds 75%; Cybercab is already operating for a fee in Austin. Barclays upgraded its rating to "Overweight," raising its target price from $370 to $450; Deutsche Bank maintained its "Buy" rating with a target price of $420. However, Optimus is still in its early stages, and Elon Musk admitted in the earnings call that ramping up mass production is proving difficult.