Tesla invests $2 billion in Elon Musk's xAI

PANews January 29 News, according to Global Market Report, Tesla announced on Wednesday that it will invest $2 billion in CEO Elon Musk’s artificial intelligence company xAI, and stated that the production plan for its Cybercab robot taxi will proceed as scheduled this year. This news supports Musk’s plan to shift Tesla from an electric vehicle manufacturer to an artificial intelligence company, which is also key to the company’s estimated valuation of approximately $1.5 trillion. Tesla Chief Financial Officer Vaibhav Taneja said that Tesla is also ramping up the production of humanoid robots, as part of a series of factory investments, with capital expenditures this year exceeding $20 billion. This figure is more than double the $8.5 billion planned for 2025.