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in Tech

Tesla’s profit margin is getting hammered by EV discounts and hefty AI spending

by Editor July 24, 2024, 3:41 am 1.1k Views

Tesla's profit margin is getting hammered by EV discounts and hefty AI spending

Elon Musk, co-founder of Tesla and SpaceX and owner of X Holdings Corp., speaks at the Milken Institute’s Global Conference at the Beverly Hilton Hotel,on May 6, 2024 in Beverly Hills, California.

Apu Gomes | Getty Images

As Tesla CEO Elon Musk continues to make lofty promises about his company’s future in autonomous driving and robotics, investors keep watching profit margins deteriorate.

In missing Wall Street estimates for second-quarter…

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