Tesla stock fell on Friday after an epic gain the day before. Shares of the electric vehicle maker closed down 2.3% at $238.25, while the S&P 500 dropped 0.2% and the Dow Jones Industrial Average added 0.

Musk sees high borrowing costs as a major reason for the company's challenges. Tesla soared on the Fed's rate cut, but most of its EV and auto peers did not. Shares jumped 7.4% as investors saw the rate cuts as a clear tailwind for the U.

Elon Musk's multi-billion dollar supercomputer in Memphis, Tennessee will train xAI's Grok chatbot. Musk founded xAI in 2023 to develop large language models and artificial intelligence products as an alternative to AI tools created by OpenAI,