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Elon Musk announces Tesla's plans to allocate USD 10 billion this year on training and inference AI
Elon Musk mentioned in his latest tweets that no firm won't be able to compete if it doesn't invest $10 billion in AI like Tesla this year.
Elon Musk, the CEO of Tesla, announced a major $10 billion investment to advance the AI capabilities of Tesla vehicles, which will also be integrated with the company's Autopilot feature, which allows the cars to drive themselves. According to reports by Fortune, the investment's main goal is to improve AI capabilities in Tesla's cars, specifically in the areas of robotaxis development and self-driving technology.
Elon Musk says no company can compete if it doesn't invest this much
In an X post, the CEO of Tesla and founder of SpaceX stated, "Tesla will spend approximately $10 billion this year in combined training and inference Al, the latter being primarily in a car. A company that doesn't invest this much and does it effectively can't compete."
Musk's post emphasizes how crucial this investment is to Tesla's ability to compete in the auto sector. Furthermore, he claimed that any business that does not invest as much in AI as this one, while maintaining efficiency, will find it difficult to stay competitive. The announcement signals a new era of fierce rivalry in Al development within the automobile industry and sets a high standard for competitors. 
Furthermore, Tesla lowered the cost of its US models last week. Days after the automaker's first-quarter deliveries fell short of market estimates, the company this week slashed the price of its Model Y, Model X, and Model S automobiles by USD 2,000 each, according to Reuters.
Musk's investment will accelerate the development of self-driving technologies and artificial intelligence in the car industry. This large investment portends the arrival of autonomous driving powered by Al. With this large investment, Tesla hopes to spur advancements in AI-driven technology, especially in the area of in-car artificial intelligence.
Elon Musk continues his commitment towards AI
This announcement comes following Musk's recent trip to China and the reduction in the pricing of Tesla models in the US and other international markets. Elon Musk is a person who, despite market difficulties, is steadfast in his pursuit of technological innovation. This is seen in Tesla's commitment to this goal. He and Tesla have shown their commitment to utilizing autonomous driving technologies to shape the future of transportation, as evidenced by their substantial investment in AI development.
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