Tesla Boosts Spending Plan to $25 Billion in AI, Robotics Push

Tesla Inc. anticipates billions of dollars in additional spending this year to support Elon Musk’s ambitions to transform the electric-vehicle pioneer into an AI and robotics company.

Capital expenditures this year will exceed $25 billion, the company revealed Wednesday, roughly three times last year’s outlay. The planned investment is up from a prior forecast of around $20 billion.

“You should expect to see a very significant increase in capital expenditure,” Musk said on a conference call after Tesla released first-quarter results.

Tesla vehicles on a transport truck in California.

Photographer: David Paul Morris/Bloomberg

The investments will be put toward a dramatic expansion of factory operations, including production of its Optimus ...