Tesla plans $20 billion spending push to build AI future

Tesla announced roughly $20 billion in planned capital spending to expand production, scale its nascent robotaxi business and build AI infrastructure, and said it will discontinue the Model S and Model X to repurpose that plant capacity for Optimus humanoid robots.

Tesla announced a roughly $20 billion capital spending plan to support production expansion, scale its robotaxi business and build AI infrastructure. The company said the amount is about twice what Wall Street had expected. Tesla also revealed plans to discontinue the Model S and Model X and to use that plant capacity for building Optimus humanoid robots. Key points: - Tesla announced roughly $20 billion in planned capital spending. - The amount is reported as roughly twice what Wall Street expected. - The spending is described as supporting production expansion at multiple factories. - The plan includes scaling up Tesla's nascent robotaxi business and building AI infrastructure. - Tesla said it will discontinue the Model S and Model X and devote that plant capacity to building Optimus humanoid robots. Summary: The announced spending redirects significant capital toward production growth and AI projects, including robotaxi services and humanoid robots. Undetermined at this time.