Tesla tumbles 14% to 11-month low as profit miss, capex spending outlook weighs on stock

Tesla shares plummeted 14% to an 11-month low following a reported profit miss. The stock crash was driven by disappointing earnings results and an outlook involving increased capex spending. Investors are reacting to the rising costs associated with AI spending, which weighed heavily on the company's financial performance. This significant decline reflects market concerns over the balance between Tesla's aggressive investment in artificial intelligence and its immediate profitability during the current fiscal period.