Tesla cash burn to test investor faith in AI bets

Tesla is expected to report its first quarterly cash burn in over two years on ​Wednesday, as its spending on AI and robotics ​soars, intensifying investor scrutiny over when those bets will pay off.

CEO Elon Musk has pivoted the ​electric-vehicle maker’s focus from manufacturing cars to building so-called physical AI businesses such as self-driving taxis and humanoid robots. Much of Tesla’s valuation hangs on that promise.