PANews reported on January 29th that Tesla announced on Wednesday that it will invest $2 billion in xAI, CEO Elon Musk's artificial intelligence company, and stated that its Cybercab robottaxi production plans will proceed as scheduled this year. This news supports Musk's plan to transform Tesla from an electric vehicle manufacturer into an artificial intelligence company, which is key to the company's valuation of approximately $1.5 trillion.
Tesla CFO Vaibhav Taneja stated that Tesla is also ramping up 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 projected for 2025.
