Tesla discloses $2B AI hardware company acquisition in filing

Musk-bashing doesn't require effort. Any reasonable person knows he's at best an opportunist dragon with no moral compass.

I really used to enjoy Fred's writing on Electrek. But after the Roadster referral debacle, Fred's tune changed and has gotten more negative... so negative now that you cannot find any positive articles about Musk or Tesla (some articles you might classify as 'neutral'). If you look at comment counts, it's clear Fred is playing to the "I hate Musk" crowd now for clicks (comments and clicks have similar outcomes for Google Adsense). Electrek's other articles' comment counts pale in comparison. So the incentive is pretty obvious now. Too bad.

The earnings call is basically an event to announce that they've published their 10-Q report. The report says:

> "In April 2026, the Company entered into an agreement to acquire an AI hardware company for up to $2.00 billion in Tesla common stock and equity awards, of which approximately $1.8 billion is subject to certain service conditions and/or performance milestones dependent on the successful deployment of the company’s technology."

That's not quiet or sneaky in any way.

The article says:

> The fact that Tesla discussed the $2 billion SpaceX investment extensively in the shareholders' letter but didn't mention an equally-sized acquisition is a deliberate choice.

The existence and content of the report is all that matters, you can emphasize or ignore anything you want in the press release.

This is such a bad article. And no suprise it's Fred Lambert.

Anyone with sense sees the negativity around Tesla.

It trades at a 360 p/e with annually shrinking finances. None of it's blockbuster promises have come to fruition, and it keeps on faux chasing hype products to keep shares buoyant. Nevermind all the shady accounting and and notorious opaque data sharing that has cropped up in the last few years.

It has had three success stories which are all pretty banal (model S, model 3, model Y), and has a litany of perpetually "just around the corner" products that will fill those massive 360 p/e shoes and then way more. FSD, roadster, semi, model 2, robotaxi, optimus robot, and now terafab. All vaporware that is indefinitely pending, and seem perfectly crafted to tickle the mind of "the internet IQ test said I'm a genius" type investors.

It then has it's meh business of battery production and storage, which does alright for what it is, but even still is now borderline noncompetitive with Chinese offerings.

So if electrek is going hard against Tesla...it kind of makes sense?