""A lot of investors asked us to do this," Musk said of Tesla's participation in xAI's latest funding round. "They say we should invest in xAI, so we're just doing what shareholders asked us to do pretty much.""
""It's going to be a very big [capital expenditure] next year," Musk said on a call with analysts. "We're making big investments for an epic future.""
Tesla recorded a 3% decline in total revenue for 2025 and a 61% drop in profits in the final quarter. The company will cease production of the Model S and Model X and convert the California plant to manufacture Optimus humanoid robots. Tesla announced a $2bn investment in xAI despite a shareholder vote where abstentions and votes against outnumbered approvals. BYD overtook Tesla as the largest EV maker in January. Investors approved a record pay package for Elon Musk that requires a major market-value increase, and Tesla plans roughly $20bn more spending and significant capital expenditure next year.
Read at www.bbc.com
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