Shares of Tesla rose 1.8% in Frankfurt trading on Thursday, one day after the company announced a $2 billion investment in artificial intelligence firm xAI, founded by CEO Elon Musk. Tesla also confirmed that production plans for its Cybercab robotaxi remain on schedule for later this year.
The move broadly mirrored Tesla’s performance in U.S. after-hours trading. Shares initially jumped around 3.5% following the announcement, but later gave up part of those gains as investors assessed details surrounding the company’s capital expenditure outlook.
