Tesla expects to more than double capital spending in 2026 as it invests heavily in robotics and driverless technology.

Tesla is making some drastic moves to position its business for the future.

TSMC first started volume production of these chips in 2018 and the technology remains widely used in AI and data centres today. Even if it is several years behind, Tesla could, in principle, produce usable AI chips for running models for vehicle autonomy and humanoid robots.

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Tesla is taking one of the boldest turns in its history, and it’s not just about electric cars anymore. After years of dominating headlines as a pioneer of electric vehicles, the company is phasing out its Model S and Model X as part of a strategic shift toward robotics,

The company’s chief executive, Elon Musk, said this week that it would stop making the car, an electric pioneer in 2012, as well as the Model X.

On Tesla's fourth-quarter earnings call, CEO Elon Musk said the company is ending production of its Model S and X vehicles.

The company announced it was ending production of its higher-end Model S and Model Y, and turning that production space over to making humanoid robots.