To focus on a future driven by AI and robotics, automaker Tesla's second-fiscal quarter spending rose to $5.8 billion, causing its free cash flow to turn negative for the first time in two years, despite a sharp increase in revenue during the quarter. “This is a big year of capital expenditure, but I'm sure all of the projects we've invested in will yield incredible returns,” CEO Elon Musk told investors on a conference call on Wednesday. Despite Musk's full confidence, Tesla's stock price fell more than 4% in Wednesday's after-hours trading. According to financial reports, Tesla's free cash flow for the second quarter was negative 1.1 billion US dollars, and net profit fell 5%. The company earned 33 cents per share for the quarter, falling short of Wall Street expectations. Overall, Tesla's revenue for the quarter increased to 28 billion US dollars, an increase of 26% over the same period last year. Despite facing the dual challenges of weak demand and increased competition in the US, its core automotive business revenue increased 23% year over year.

To focus on a future driven by AI and robotics, automaker Tesla's second-fiscal quarter spending rose to $5.8 billion, causing its free cash flow to turn negative for the first time in two years, despite a sharp increase in revenue during the quarter. “This is a big year of capital expenditure, but I'm sure all of the projects we've invested in will yield incredible returns,” CEO Elon Musk told investors on a conference call on Wednesday. Despite Musk's full confidence, Tesla's stock price fell more than 4% in Wednesday's after-hours trading. According to financial reports, Tesla's free cash flow for the second quarter was negative 1.1 billion US dollars, and net profit fell 5%. The company earned 33 cents per share for the quarter, falling short of Wall Street expectations. Overall, Tesla's revenue for the quarter increased to 28 billion US dollars, an increase of 26% over the same period last year. Despite facing the dual challenges of weak demand and increased competition in the US, its core automotive business revenue increased 23% year over year.