The automaker reported earnings that disappointed Wall Street, with plans to spend billions more on AI.

Tesla's profits fell last quarter as the car company run by Elon Musk shoveled more money into research and development, cutting into profits from a sharp increase in vehicle…

Tesla's profits fell last quarter as the car company run by Elon Musk shoveled more money into research and development, cutting into profits from a sharp increase in vehicle sales

Tesla reported second-quarter profits of US$1.1 billion, down about 5 per cent from the year-ago level.