Business
Tesla’s $5.8 Billion in Spending Turns Cash Flow Negative Despite Revenue Surge
With its eye on an AI- and robotics-driven future, automaker Tesla TSLA -14.52%decrease; down pointing triangle boosted its spending to $5.8 billion in the second quarter, sending its free cash flow into the red for the first time in two years despite a surge in revenue.
“This is a massive cap ex year, but I’m confident all the things we’re investing in will yield incredible returns,” Chief Executive Elon Musk told investors on a call Wednesday.
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