Tesla earnings rise, but AI expenses add up for Elon Musk
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Tesla reported an uptick in quarterly revenue and profit, but the costs of pivoting to an AI future are starting to add up.Why it matters: CEO Elon Musk has directed the company to invest heavily in the development and production of humanoid robots, self-driving cars and AI chips.Driving the news: The company reported Q1 revenue of $22.4 billion, up 16% from a year earlier.Net income totaled $477 million, up 17%, but operating expenses ballooned 37%, to $3.78 billion.Its operating margin fell to
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