Shares of Tesla Inc. advanced in pre-market activity on Tuesday, February 10, 2026, extending a recovery that began in the prior session. The stock climbed approximately 1.7% to $424.36 after closing Monday at $417.32. The early trading range saw an opening at $418.08 and a low of $416.74 before the upward move.
AI Financing Fuels Sentiment
The positive momentum was partly attributed to a report from Reuters, citing The Information, indicating that Apollo Global Management is nearing finalization of a loan deal worth roughly $3.4 billion. This financing is intended for an investment vehicle that would acquire advanced semiconductors from Nvidia Corp. and lease them to xAI, the artificial intelligence venture founded by Tesla CEO Elon Musk. The arrangement, which could be completed this week, is being facilitated by Valor Equity Partners.
This development reinforces the market's renewed focus on Tesla's strategic narrative beyond electric vehicle manufacturing. Investors are increasingly evaluating the company as a play on autonomous driving and artificial intelligence capabilities. This shift in perception makes the stock more sensitive to news flow related to chips, data centers, and automation, often linking Tesla's valuation to developments across Musk's broader corporate ecosystem.
Macroeconomic Data Looms
Broader market attention is also fixed on upcoming economic indicators. The U.S. Labor Department is scheduled to release the delayed January employment report on Wednesday. A Reuters survey of economists projects an increase of 70,000 in nonfarm payrolls. This data is critical as it may influence expectations for Federal Reserve interest rate policy. High-growth, rate-sensitive equities like Tesla can experience amplified volatility based on shifts in the outlook for borrowing costs.
Dario Perkins, Managing Director of Global Macro at TS Lombard, emphasized the report's significance, noting, "The demand versus supply question is important for monetary policy." A stronger-than-expected jobs figure could dampen enthusiasm for growth stocks by suggesting a longer period of restrictive monetary policy.
Autonomous Driving Competition Intensifies
In the competitive landscape for autonomous vehicles, Alphabet Inc.'s Waymo subsidiary announced it has commenced fully driverless operations in Nashville, Tennessee. The company stated it now has over 2,500 vehicles operating across several U.S. markets and has partnered with Lyft Inc. to offer commercial rides in the city. This expansion highlights the accelerating race to deploy robotaxi services at scale in the United States.
Tesla has actively sought to redirect investor focus toward its own autonomy and robotaxi ambitions, termed "Cybercab," and away from its core EV business, which is showing signs of maturation. In late January, the company confirmed a planned $2 billion investment into xAI and reiterated that Cybercab production remains on track for a 2026 start. Furthermore, Chief Financial Officer Vaibhav Taneja indicated that capital expenditures are expected to exceed $20 billion this year.
Thomas Monteiro, a senior analyst at Investing.com, commented on this strategic pivot, stating, "(That) makes rollout metrics — not deliveries — the most important leading indicator from here." The market is essentially being asked to value future revenue streams that are not yet fully visible, which introduces a higher degree of sentiment-driven volatility.
Risks and Near-Term Catalysts
The potential downside for Tesla's stock remains significant. The company is vulnerable to sharp sentiment shifts if the timeline for achieving full autonomy faces further delays, if higher interest rates return as a primary market concern, or if execution and regulatory hurdles around driverless services prove substantial. Competition in both the EV and autonomy sectors continues to intensify.
Consequently, while financing news related to AI infrastructure can provide a short-term boost, the sustainability of the rally is uncertain. The immediate test will be the macroeconomic data, followed closely by Tesla's own execution on its promised autonomy milestones and capital spending plans throughout the year.
