Tesla Misses Profit Estimates, Leans Into AI

Tesla's earnings tell a pretty clear story. Yes, profit missed expectations and free cash flow turned negative, but Wall Street wasn't looking to Tesla to maximize near-term earnings. It wanted to see the company lean harder into AI.And Tesla did exactly that. Capital spending more than doubled to almost $6 billion in the quarter. Tesla reaffirmed more than $25 billion of capex this year, adding that spending will continue to increase over the next 2 to 3 years.There's an interesting wrinkle. Tesla has spen ...