# CEO Elon Musk said the moves were "well justified for a substantially increased future revenue stream" Musk has pivoted the electric vehicle maker's focus to building AI-powered self-driving cabs.

*robotics · news · 2026-04-23 · MarketScreener*

## Key points

- Tesla has increased its annual spending plan to over $25 billion for 2024.
- Elon Musk is redirecting Tesla's investments toward AI-powered self-driving cabs and humanoid robots.
- Tesla anticipates negative cash flow for the remainder of 2026 due to increased spending.
- First-quarter profit surpassed Wall Street expectations despite fewer than expected vehicle deliveries.

**Companies:** Tesla
**Countries:** United States

[Read the full story on MarketScreener](https://www.marketscreener.com/news/tesla-raises-spending-plans-pours-money-into-ai-chips-and-robots-ce7f59d9da8ff522)

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