Elon Musk is pivoting Tesla
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In Tesla's annual financial filing, the company said that last year it sold $430 million worth of its energy storage products to xAI, Elon Musk's AI startup.
The carmaker used its quarterly earnings report to describe itself as a 'physical AI company.' So far, investors don't seem rattled by the pivot.
Basically, driving a car like the Model S isn’t the future, but a car driving you is. In a first for the company, Tesla revealed it has 1.1 million paying subscribers for its full self-driving (FSD) business.
CEO Elon Musk declared this week that the company’s Optimus 3 humanoid robot will “move the needle” on US GDP, backing the claim with a $20 billion capital spending commitment focused on robotics and autonomous vehicles.
Tesla CEO Elon Musk said that autonomous Cybertrucks could be used for cargo deliveries, which betrays a misunderstanding of basic shapes.
Elon Musk said Tesla Inc. needs to build and operate what he is calling a “TeraFab” to manufacture semiconductors, a massive undertaking that will cost billions of dollars and mark another expansion beyond what had been the company’s core electric vehicle business.
The Model S deserved better than this.
On Tesla's fourth-quarter earnings call, CEO Elon Musk said the company is ending production of its Model S and X vehicles.