Tesla shifts focus to robotics and AI as investors urge return to core auto business

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Tesla is betting big on a future where it builds humanoid robots and autonomous vehicles instead of just selling cars. The problem: a growing number of investors would prefer it just sell more cars. The company’s planned capital expenditures for 2026 exceed $25 billion, nearly tripling the roughly $9 billion it spent the previous year. Much of that money is flowing into AI infrastructure, custom chip development, and the buildout of robotaxi services, all centered around Elon Musk’s vision of Tesla as a robotics and artificial intelligence company that happens to also make electric vehicles. The great pivot Tesla’s transformation from automaker to AI company is physically reshaping the company’s manufacturing footprint. Production of the Model S and Model X ended in early 2026. Those factory lines are being repurposed for manufacturing the Optimus humanoid robot, Tesla’s ambitious bid to create a general-purpose robot that can perform tasks in homes and factories. Musk now dedicates roughly half of earnings call time to discussing AI and robotics, up from about 15-20% back in 2022. The company also invested $2 billion into Musk’s xAI venture in January 2026, a move that drew pushba...

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