Tesla Profits Beat, Capex Surges

Tesla's financial update reveals a significant pivot toward next-generation technologies, including the 'Optimus' humanoid robot and autonomous robotaxis.

Elon Musk defended the increased capital expenditure, arguing that the investments are 'well justified' to secure future revenue streams.

The company also confirmed it will utilize Intel's latest 14A chipmaking technology for its ambitious Terafab project in Texas.

Despite the positive earnings, investors remain cautious about the impact of high spending on the company's free cash flow for the remainder of the year.