Posted 10/19/2023, 1:13:14 AM
Tesla Misses Q3 Revenue Estimates While R&D Spending Surges on AI and Cybertruck
- Tesla held $184 million in Bitcoin at end of Q3, unchanged for 5th quarter in a row
- Tesla doubled its computing power for AI projects and training of humanoid robot Optimus
- Tesla Q3 revenue was $23.35 billion, missing estimates, while EPS also missed at $0.66
- Operating expenses jumped over 42% versus last year to $2.41 billion
- R&D spend increased 58% to $1.16 billion due to Cybertruck, AI, and other projects
