The Globe and Mail reports in its Thursday edition that Tesla said on Wednesday it will invest $2-billion in chief executive officer Elon Musk's artificial-intelligence company xAI -- and that production plans for its Cybercab robotaxi and Semi trucks were on track for this year (all figures U.S.). A Reuters dispatch to The Globe says Mr. Musk has pivoted Tesla from an electric-vehicle maker to an AI company, with much of the company's $1.5-trillion valuation hanging on that bet. The investment in xAI is expected to bolster his autonomous driving and robotics ambitions. Reiterating Tesla's production plans is key for investor confidence as the company has repeatedly missed promises made by Mr. Musk, including its U.S. robotaxi service. Tesla's vehicle business, which still accounts for most of the company's current revenue, has been under strain as rivals roll out newer models, often at lower prices. A U.S. tax incentive for EVs has also ended, and Mr. Musk's divisive political rhetoric has alienated some customers. Wall Street expects the company to deliver 1.77 million vehicles in 2026, an 8.2-per-cent increase. Tesla posted fourth quarter revenue of $24.9-billion, beating analyst estimates of $24.79-billion.
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