Tesla pivots to AI and robotics

The electric vehicle maker earned four hundred and seventy-seven million dollars in the first quarter, driven by a sixteen percent increase in revenue.

Musk acknowledged that while automotive demand is returning, the company's future value lies in autonomous technology and humanoid robots like Optimus.

However, shares slipped in after-hours trading as investors processed the warning of substantial upcoming costs and negative free cash flow for the remainder of the year.

The company is also facing scrutiny after Musk admitted that millions of older Tesla vehicles will require hardware upgrades to achieve full unsupervised autonomy.