Elon Musk Is Spending $1B On Tesla's Dojo Supercomputer – Here's What You Need To Know
Portfolio Pulse from Benzinga Neuro
Tesla Inc. (NASDAQ:TSLA) plans to invest over $1 billion in its Dojo Supercomputer project by the end of 2024, according to CEO Elon Musk. The Dojo Supercomputer is a proprietary platform designed for AI machine learning, with a focus on video training using data from Tesla's fleet of vehicles. Despite already owning a powerful supercomputer based on NVIDIA GPUs, Tesla has developed its custom-built Dojo computer. The announcement of this investment led to a post-market slide in Tesla's share price.
July 20, 2023 | 9:22 am
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Tesla's announcement of a $1 billion investment in its Dojo Supercomputer project led to a post-market slide in its share price.
The announcement of a significant investment in a project that is still in development and may not yield immediate returns could have unsettled investors, leading to a slide in Tesla's share price. The impact is likely to be short-term as the market adjusts to the news.
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