Tesla invests $2 billion in Musk's xAI

According to a report by Global Market Broadcast, 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 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's Chief Financial Officer Vaibhav Taneja stated that Tesla is also ramping up production of humanoid robots, which is part of a series of factory investments, with capital expenditures this year expected to exceed $20 billion. This figure is more than double the $8.5 billion projected for 2025.