Elon Musk Pivots Tesla to AI and Robotics With $20B Global Investment

Tesla is shifting its focus to artificial intelligence and robotics by doubling capital expenditure to $20 billion after reporting its first annual revenue decline.Elon Musk announced the discontinuation of Model S and Model X production to prioritize the Optimus humanoid robot and the expansion of the Robotaxi service.The company will also invest $2 billion in the startup xAI while developing in-house chip manufacturing capabilities to address geopolitical supply chain risks.