New York, Jan 28, 2026 (AFP) - Tesla profits sink as it plans to invest in Musk AI venture

NAMPA / AFP

2026-01-28

Tesla reported a 61 percent drop in fourth-quarter profits Wednesday due to lower auto sales and increased expenses as CEO Elon Musk ramps up technology investments. The electric vehicle maker, which describes itself as in "transition from a hardware-centric business to a physical AI company," said it reached an agreement on January 16 to invest $2 billion in Musk's xAI artificial intelligence venture. jmb/dw ...

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