Tesla to Invest $2 Billion in Elon Musk's AI Company xAI

Tesla announced on Wednesday its plan to invest $2 billion in xAI, an artificial intelligence company led by CEO Elon Musk. According to PANews, the company also confirmed that the production of its Cybercab robotaxi will proceed as scheduled this year. This move aligns with Musk's strategy to transition Tesla from an electric vehicle manufacturer to an AI-focused company, a shift crucial to its valuation of approximately $1.5 trillion. Tesla's Chief Financial Officer Vaibhav Taneja revealed that the company is also accelerating the production of humanoid robots as part of a series of factory investments. The capital expenditure for this year is expected to exceed $20 billion, more than double the $8.5 billion projected for 2025.