Tesla wants to bring the Cybertruck down to earth

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Good morning. A new research paper co-authored by Google's David Silver is the talk of the tech industry. It boldly announces a radical new era for AI — it also reads as a "dis" of OpenAI, BI's Alistair Barr writes.

In today's big story, Tesla's highly anticipated earnings report comes after the bell. We're breaking down what Wall Street will be watching — and why Tesla really wants the Cybertruck to be a working man's truck.

What's on deck

Markets: President Trump escalated his feud with the Fed, and investors are nervous.

Tech: Internal Microsoft email to managers details new policies aimed at culling low performers.

Business: The FTC is arguing that Uber's subscription service is too deceptive in a new suit.

But first, bringing the Cybertruck back to earth.

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The big story

Rebranding the Cybertruck

Think less DeLorean, more F-150. The Cybertruck is ditching its otherworldly aesthetic to reposition itself as a working man's vehicle, BI's Grace Kay writes.

Less than two years after release, Cybertrucks are now piling up in sales lots, fewer than 50,000 vehicles have been delivered, and some owners have become political targets over CEO Elon Musk's association with President Donald Trump.

So, what's a car company to do? Enter the quiet rebrand.

Tesla sales workers told BI the vehicle needs to appeal to the traditional truck buyer.

In mid-April, Tesla redesigned its product page for the first time since the truck's release. Gone are the futuristic aesthetics and allusions to Mars. Now, the vehicle is fit for construction work or a family outing.

Tesla is preparing to deliver first-quarter earnings.

It faces sluggish delivery numbers, a brand crisis, and a stock price down over 43% this year. It's looking for a boost.

Here are a few things that Wall Street will be watching:

• The impact of the Musk backlash on Tesla's bottom line. Investors will listen for insight into how much protests are affecting Tesla's revenue and profit, and the impact of the Cybertruck becoming a frequent target of harassment and vandalism.
• A possible end date for Musk's DOGE work. Wedbush Securities analyst Dan Ives said in a note on Sunday that the electric vehicle giant faced a "code-red situation" if Musk continues his government work.

• Impact of Trump tariffs. Tesla's chief financial officer said on the company's last earnings call that, if implemented, tariffs would affect the automaker's business and profitability. He said that while the company had tried to localize its supply chain, it's still "very reliant on parts from across the world" for all its businesses.

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  3 things in markets

  1. The "sell America" trade is in full swing. On Monday, stocks, bonds, and the dollar all dropped sharply. This followed Trump's criticism of Fed Chair Jerome Powell for taking too long to lower interest rates, which is rattling investor confidence.

  2. Politically meddling with the Fed is a bad idea, top official says. Chicago Fed President Austan Goolsbee underscored the importance of the central bank's independence on Monday. He cautioned that political interference could result in hotter inflation and higher unemployment.

  3. Companies are cutting earnings outlooks. Trade war uncertainty, interest rate jitters, and recession fears are causing the revisions, which are approaching downside extremes.

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  3 things in business

  1. Inside Amazon's Project Greenland. Last year, Amazon struggled to keep its retail business on track when faced with an AI chip shortage. Its response was Project Greenland: an effort to tightly approve and monitor which projects get GPU access, according to documents obtained by BI.

  2. Microsoft is raising the bar. It has created new policies and tools to dial up performance pressure on employees, including a two-year rehire ban for those found to be underperforming, according to an internal email viewed by BI.

  3. AI isn't ready to do your job. Researchers at Carnegie Mellon University staffed a fake company with AI agents, and the results were disastrous. See the tasks AI failed the most — and where the next development phase is likely headed.

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  3 things in tech

  1. Are you stuck with Uber One? You're probably not alone. An FTC lawsuit accuses Uber of overpromising customers how much the paid subscription service will save them, making it too hard to cancel, and, in some cases, signing them up without consent. Uber denies the allegations.

  2. Walmart's taking a page from the honeybee playbook. The retail giant is ditching zip codes for a honeycomb-style segmented map in search of speedier grocery delivery. It says the goal is to understand what customers want, where they are, and which stores have what they need.

  3. How CEOs are staying calm. As uncertainty swirls over tariffs, many CEOs are turning to their wellness routines to reduce stress. Business leaders shared their tips with BI, from "purposeful scrolling" to finding balance outdoors.

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  In other news

• Harvard tapped attorneys with GOP ties to sue Trump in funding freeze showdown.
• Google's future is at stake as the next phase of the landmark antitrust case kicks off.
• How Mark Zuckerberg tried to control Instagram and Facebook's sibling rivalry.
• EV battery maker Northvolt failed after blowing through $15 billion. This US rival thinks it won't suffer the same fate.
• More than 100 public software companies are getting 'squeezed' by AI, according to a new study.
• Why a top economist thinks the odds of a tariff-fueled recession have climbed to 90%.
• Pete Hegseth's 'horrible' Signalgate response is a lesson in how not to do crisis comms, ex-spokesman says.
• Millions of student-loan borrowers could start losing Social Security benefits and tax refunds in two weeks if they don't pay up.
• Here's another sign Canadians are pulling back on US travel.

What's happening today

• Tesla, Verizon, Capital One, and GE Aerospace report earnings.
• IMF World Economic Outlook and Global Financial Stability Report published.
• US Chamber of Commerce global summit.

The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York (on parental leave). Hallam Bullock, senior editor, in London. Grace Lett, editor, in Chicago. Amanda Yen, associate editor, in New York. Lisa Ryan, executive editor, in New York. Meghan Morris, deputy bureau chief, in Singapore. Ella Hopkins, associate editor, in London. Elizabeth Casolo, fellow, in Chicago.