"In April 2026, [Tesla] entered into an agreement to acquire an AI hardware company for up to $2.00 billion in Tesla common stock and equity awards, of which approximately $1.8 billion is subject to certain service conditions and/or performance milestones dependent on the successful deployment of the company's technology."
"Tesla is working on a lot of large, ambitious projects. They're all very challenging, but I think they're going to be revolutionary."
Tesla's recent earnings report revealed an agreement to acquire an AI hardware company for up to $2 billion in stock and equity awards. The details surrounding the acquisition remain unclear, including the identity of the company and its purpose. This move aligns with Tesla's shift towards AI, as the company plans to increase its capital expenditure on AI and robotics significantly. Elon Musk emphasized the ambitious nature of Tesla's projects, indicating a broader focus beyond electric vehicles.
Read at Futurism
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