New York, Jan 28, 2026 (AFP) - Tesla profits tumble on lower EV sales, AI spending surge

NAMPA / AFP

2026-01-29

Tesla reported a 61-percent drop in fourth-quarter profits on Wednesday due to lower auto sales and increased expenses as CEO Elon Musk ramps up technology investments. The results conclude a turbulent year for the electric vehicle maker that included a controversial Musk stint in Donald Trump's White House and a shareholder vote in November to award the outspoken CEO a pay package worth as much as $1 trillion in anticipation of massive technolog......

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