Tesla Profits and Deliveries Fall Short as Factory Upgrades and AI Investments Weigh on Earnings
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Tesla's profits dip as it invests in factory upgrades and AI development, missing Q3 earnings and Cybertruck delivery targets.
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Operating margins fell for third quarter in a row due to rampant price cutting, despite small bump in revenue.
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Production reduced for factory upgrades, leading to big dip in deliveries. Doubling compute capacity for AI investments.
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Updated Model 3 and Model Y refresh lineup, but overall delivery and production numbers fell short of expectations.
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Ongoing worries about dwindling profit margins, delays, and sideshows hurting Tesla's business reputation despite high EV market share.
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