Tesla, the electric vehicle manufacturer, maintained its substantial Bitcoin holdings for the fifth consecutive quarter, without making any changes. However, it did allocate more funds towards expanding its computing capacity to support its artificial intelligence initiatives. According to Tesla's Q3 2023 results, released on October 18, as of September 30, the company held $184 million worth of digital assets, which is a portion of the $1. 5 billion worth of Bitcoin it initially purchased in March 2021. These latest numbers indicate that Tesla has not bought or sold any Bitcoin since it sold off approximately 75% of its holdings in Q2 2022, which generated $936 million from the sale of over 30, 000 BTC. On the other hand, Tesla reported a significant increase in its computing power for its AI projects, stating that it had more than doubled its capacity.

This boost was attributed to the expansion of its training data set and the transition of its humanoid robot Optimus to AI-based training, replacing the previously coded software approach. Tesla's Q3 earnings and profits fell short of Wall Street estimates, with reported total revenues of $23. 35 billion, representing an almost 9% increase compared to the previous year but missing Zacks Investment Research's projection of $24. 38 billion. Additionally, Tesla's reported earnings per share (EPS) of $0. 66 failed to meet Zack's estimated EPS of $0. 72. The company's operating expenses for the third quarter amounted to $2. 41 billion, indicating a more than 13% increase from the previous quarter and over a 42. 5% increase compared to the prior year. Research and development expenses for the quarter reached $1. 16 billion, reflecting a 58% surge from the previous year, which Tesla attributed to its ongoing projects such as the "Cybertruck, AI, and other R&D endeavors. " Tesla's stock experienced a decline of nearly 4. 8% during regular trading hours, closing at $242. 68, and subsequently dropped an additional 4. 25% in after-hours trading, reaching $232. 37 according to data from Google Finance.