Tesla Shares Rise As Musk Outlines AI Pivot And End Of Model S And X Production
Tesla Shares Rise As Musk Outlines AI Pivot And End Of Model S And X Production
Publish Date: 2026-01-29 06:06:00
Source Domain: www.forbes.com
- Tesla shares rose in premarket amid a first-ever drop in annual revenue, signaling potential pivots.
- Elon Musk announced the end of Tesla’s Model S and Model X production to focus on manufacturing humanoid robots, specifically the Optimus model.
- Tesla’s goal is to produce 1 million Optimus robots at its California plant.
- Musk announced a $2 billion investment in xAI, his own artificial intelligence company, despite a tepid response from investors last year.
- The company plans to begin production of the Cybercab, a fully autonomous vehicle, by April, aiming to exceed production of other vehicles combined.
- Musk emphasized that Optimus will significantly impact the US GDP and highlighted the company’s transition towards a physical AI company.
