To understand why the market didn't panic, it helps to look at Tesla as not just a car company but as an AI robotics one. USD 43.5 billion is a lot of money but the real question is how much money is its Robotaxi going to need to launch it?
To make Robotaxis a reality, Elon Musk is buying tens of thousands of specialised AI chips, building massive data centers & eventually manufacturing millions of autonomous vehicles.
If you view Tesla as a robotics company, this cash drain is acceptable. However if you see Tesla as a car company, then it is not.
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