Tesla Plans Additional $25 Billion in Spending

Ian King0:00

[on-hold music] Bloomberg Audio Studios. Podcasts, Radio, News. [upbeat music] Bloomberg Tech is live from coast to coast. With Caroline Hyde in New York and Ed Ludlow in San Francisco.

Ed Ludlow· Host0:19

This is Bloomberg Tech. Coming up, Tesla plans for twenty-five billion dollars in additional spending this year to support Elon Musk's AI ambitions.

Caroline Hyde· Host0:30

And Intel shares jump after the company pledges to support Musk's advanced chip manufacturing project, Terafab.

Ed Ludlow· Host0:36

And we'll break down more tech earnings and tech news. We'll hear from the CEOs of Lyft, ServiceNow, and IBM.

Caroline Hyde· Host0:43

And first, for the last day this week together in New York, Ed, we look at what these markets are up to. And we're actually managing to cling onto some sort of green in the Nasdaq one hundred. Less so for the Nasdaq more broadly. And look, we are seeing pressure more on the investor mindset with oil climbing up again, five ten percent higher. We're above hundred and two on Brent. The geopolitical context remains. It impacts certain earnings, like with ServiceNow, for example, but we're all tracked on earnings today.

Ed Ludlow· Host1:08

Yeah. It's been exhausting, frankly, being on Eastern Time and covering- [laughs] ... Tesla's earnings in particular. Right? Really simple story. Massive commitment to spending a lot of money to actually get going on the two big projects, robotaxi, taxi, and Optimus, the humanoid robot. The headline, CapEx, twenty-five billion dollars for this year. But actually, the shares are down significantly, not