CEO Elon Musk has pivoted the electric-vehicle maker's focus from manufacturing cars to building so-called physical AI businesses such as self-driving taxis and humanoid robots. Much of Tesla's valuation hangs on that promise.

Shareholders "increasingly focused" on robotaxi, Optimus investments.

Tesla posts record Q2 deliveries but is set to burn roughly $3.25bn in cash as its $25bn AI, robotaxi, and Optimus bill tests investor patience.

CEO Elon Musk has pivoted the electric-vehicle maker's focus from manufacturing cars to building so-called physical AI businesses such as self-driving taxis and humanoid robots.…