Tesla to Focus on Autonomy and AI as Earnings Disappoint

Amid softer EV demand and worsening profit margins this year, Tesla is setting its sights on AI as Elon Musk is betting more on self-driving and artificial intelligence. The AI hype has investors hooked in the past three months since Tesla’s underwhelming first-quarter deliveries and earnings numbers published in April.

For now, Tesla is stuck with its core business of manufacturing electric vehicles, and its market value as of Tuesday's close was about $772 billion. The shares are likely to dip this week after Tesla reported after market close on Tuesday another set of poor quarterly financial results. In after-hours trade, Tesla’s stock plunged by 7.77% to $246 apiece. Tesla reported a second-quarter net income plunging by 45% year-over-year to $1.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

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

Noel Radford's huge net worth from family bakery, TV earnings and social mediaThe 22 Kids and Counting stars have insisted that they do not reply on any benefits and all their income is self-earned
Source: LiveLancs - 🏆 10. / 87 Read more »

Walgreens Woes Continue With Earnings Miss and Plans to Shutter More StoresWalgreens shares tumbled early Thursday after the drugstore chain signaled that more store closings are on the way.
Source: TIME - 🏆 93. / 53 Read more »

The stunning amount England's Euro 2024 squad pay in tax as full earnings revealedEngland are currently gearing up for their Euro 2024 last-16 tie against Slovakia.
Source: sportbible - 🏆 89. / 53 Read more »

Dani Dyer's huge net worth and footballer partner Jarrod Bowen's earningsDani Dyer and Jarrod Bowen have been together since 2021 and have gone from strength to strength, even expanding their family after welcoming adorable twins in May 2023
Source: new_magazine - 🏆 72. / 59 Read more »