Tesla reported its Q3 2023 results, revealing that it has not made any changes to its Bitcoin holdings for the fifth consecutive quarter. The electric vehicle manufacturer currently holds $184 million worth of digital assets, a portion of the $1.5 billion worth of Bitcoin it acquired in March 2021. Despite not buying or selling any Bitcoin since its sell-off in Q2 2022, Tesla has increased its computing capacity to support its artificial intelligence (AI) efforts. The company stated that it has more than doubled its computing power for AI projects, including the training of its humanoid robot Optimus. However, Tesla’s Q3 earnings and profits fell short of Wall Street estimates, with total revenues of $23.35 billion, missing the projected estimate of $24.38 billion. The company also reported earnings per share of $0.66, lower than the estimated $0.72. Tesla’s operating expenses for the quarter increased by over 13% from the previous quarter and more than 42.5% from the prior year. The company attributed the rise in expenses to its research and development projects, including the Cybertruck and AI initiatives. As a result, Tesla’s shares declined by nearly 4.8% on the day.

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Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	1
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Companies	Tesla
Currencies	Bitcoin
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