Tesla earnings rise, but AI expenses add up for Elon Musk - Axios

Tesla reported Q1 revenue of $22.4 billion, up 16% year-over-year, and net income of $477 million, up 17%, as vehicle sales and software subscriptions helped lift results. Operating expenses surged about 37% as the company invests in AI, robotics, and chips, and the limited Cybertruck recall will add incremental costs. Honda’s $9 billion EV loss and pivot toward hybrids highlights the broader financial strain of the EV transition, underscoring why investors are watching Tesla’s spending, capital allocation, and path to sustained profitability.