In a move that rumbled throughout the electric vehicle (EV) industry, Tesla CEO Elon Musk has announced its investment of over a substantial $10 billion in advancing its full self-driving (FSD) technology.

The announcement by Elon Musk was made in response to a user on X, stating “It has been staggeringly difficult to make generalized self-driving work, requiring all that you describe above and more. The investment in training compute, gigantic data pipelines and vast video storage will be well over $10B cumulatively this year.”

Furthermore, Elon Musk emphasizes that the $10 billion investment is little compared to the “quarter trillion dollars” in Tesla’s EVs containing AI software studying and undergoing training by its users. Tesla’s journey into full self-driving technology arrives at a key moment in the company’s trajectory.

The massive spending from Tesla is not new as the company has been investing in FSD technology since its announcement in 2016. Despite this, there is optimism with the results of Tesla’s FSD technology such as Goldman Sachs Stock Analyst Mark Delaney and his team issued a note, “Contextualizing Tesla’s AI and FSD opportunities”, projecting that FSD technology could be worth $10 billion to $75 billion a year in revenue by 2030.

With only 4 months away until the unveiling of its robotaxi on August 8, stakeholders are eagerly waiting for the results. Last month, Tesla unleashed a free one-month trial of its FSD technology provided the user has a hardware-equipped EV compatible with the program.

With billions of dollars on the line for Tesla, the company’s anticipated announcement of the robotaxi and advancement of its FSD program could mark a momentous moment in the evolution of self-driving technology with EVs along with it.

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