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

📆 10/19/2023 2:46 AM
📰 Cointelegraph

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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

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