Tesla earnings: Bitcoin bags untouched as firm splashes out on AI

📆 2023-10-19 4:46 AM
📰 Cointelegraph

⏱ Reading Time:
18 sec. here
2 min. at publisher
📊 Quality Score:
News: 11%
Publisher: 51%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Tesla’s Q3 2023 results show its increased spending on AI projects and research and development, all while holding onto $184 million worth of Bitcoin and missing Wall Street earnings estimates.

Tesla held onto its sizeable Bitcoin holdings in the third quarter and upped its spending on artificial intelligence and research and development.) holdings for the fifth quarter in a row. However, it has directed more funds to double its computing capacity amid artificial intelligence efforts.released on Oct. 18 show as of Sept. 30, it held $184 million worth of digital assets — a portion of the

, citing a growing training data set and switching the training of its humanoid robot Optimus to AI rather than coded software. Tesla saw its third-quarter earnings and profits miss Wall Street estimates, with reported total revenues of $23.35 billion. While this was up by nearly 9% from the prior-year period, it missed Zacks Investment Research’s

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tesla Q3 2023 Earnings Report: Profit And Revenue Below ExpectationsTesla just released its positive Q3 2023 earnings report. See more details on Tesla's financial situation right here.
Source: InsideEVs - 🏆 579. / 51 Read more »