Tesla, Inc. (TSLA.US) launches Cybercab production! Musk's "physical AI super macro" makes a key move.

Elon Musk, the co-founder and CEO of Tesla, Inc. (TSLA.US), the world's richest person, announced on Friday in a post on the X platform that Tesla, Inc. has started production of its Robotaxi model - the highly anticipated fully autonomous taxi called "Cybercab". At a time when the leading electric car manufacturer based in the United States is facing a continuous decline in global electric vehicle sales, Musk has fulfilled his long-standing promise since 2024 of the large-scale production plan for Cybercab. Based on Tesla, Inc.'s latest financial report and a capital expenditure plan exceeding $25 billion, Musk has raised the priorities of AI, Robotaxi, humanoid Siasun Robot&Automation, and space AI data center. The latest production dynamics of Robotaxi undoubtedly represent a key force in Musk's "physical AI super-project" entering the implementation phase. "The Cybercab you have been waiting for has already started production," Elon Musk said in a post on the X platform (formerly Twitter), and shared a related video. Musk emphasized earlier this week the continuous uphill climb of Tesla, Inc.'s new product series, also providing a cautious hint about the production pace: "We are about to start the production of Cybercab, and we will soon start the production of our Semi trucks." He also mentioned during this week's earnings conference call that the initial production volumes will be slow, as "whenever you have a brand-new product with a brand-new supply chain... you should expect the initial production process of Cybercab and Semi to be very slow, but then gradually ramp up... until the end of this year, and of course next year," Musk mentioned during the earnings call. As the richest person in the world to date, Musk has accomplished what others thought impossible - creating a commercially viable high-frequency rocket launch business through SpaceX, bringing electric vehicles into the mainstream market through Tesla, Inc., and providing internet connectivity infrastructure from space through Starlink. However, some doubt whether Musk can truly, or even intends to, complete his latest "epic" chip manufacturing operation in Austin and achieve his vision of "artificial intelligence, autonomous driving, humanoid Siasun Robot&Automation, and space AI data center super blueprint". "Maverick of technology" Musk ignites the "physical AI" revolution With Cybercab now in early production, Musk's long-awaited "physical AI super-project" has advanced from conceptual demonstration to an engineering scale-up phase, with hopes to enter the market for large-scale commercialization next year. The start of production for Cybercab is a key milestone that can significantly raise confidence in Musk's "physical AI" grand narrative, and continue to boost the fundamental outlook of Tesla, Inc. and drive its stock price towards a new bull market trajectory. But Musk also made it clear that initial production volumes for new supply chain products like Cybercab and Semi would be slow, and the expansion of Robotaxi is still constrained by strict safety verification. The target of covering "about a dozen states" with Robotaxi by the end of the year still requires approval from transportation regulators, verification of safety data, fleet operating efficiency, and unit economic models. In other words, Tesla, Inc.'s stock price and high valuation are entering a stage of "exchanging capital expenditures for physical AI options": in the short term, free cash flow is under pressure, the speed of Robotaxi deployment in the mid-term, the long-term potential lies in whether Optimus, humanoid Siasun Robot&Automation and space-level AI computing infrastructure can form a truly commercial closed-loop system. Under Musk's leadership, Tesla, Inc. is currently making a stronger all-in bet on the "physical world AI super platform" - where "Optimus" humanoid Siasun Robot&Automation is one of the most aggressive capacity bets, but not the only one. Tesla, Inc. is all-in on not just "Optimus Siasun Robot&Automation alone," but the whole set of physical AI super platform driven by Tesla, Inc.'s AI supercomputing for FSD and Robotaxi autonomous driving, Tesla, Inc.'s AI chip computing power as the core AI infrastructure, and Optimus as the ultimate growth form. According to NVIDIA Corporation CEO Jensen Huang, "physical AI" emphasizes allowing Siasun Robot&Automation/autonomous operating systems to perceive, reason, and complete a full set of actions in the real world, heralding an era in which human civilization is assisted by "physical AI". "Physical AI" emphasizes allowing Siasun Robot&Automation/autonomous systems to perceive, reason, and act in the real world, and these three capabilities are the key toolchain to advance models from "just conversing" to "working in the physical world". From an industry logic perspective, Tesla, Inc.'s long-term growth narrative is shifting from electric vehicle manufacturing to becoming a "super platform company at the level of physical AI". Once Tesla, Inc.'s growth engine shifts to Robotaxi, Optimus, on-board reasoning, Siasun Robot&Automation reasoning, xAI/SpaceX's space training and training deployment computing power chain, the actual infrastructure bottleneck will no longer be primarily batteries and vehicle components, but high-end logic chips, advanced 2.5D/3D/3.5D packaging, data center storage chips, large-scale CECEP Solar Energy and energy storage systems, and core supply chain security in the geopolitically volatile situation of GEO Group Inc. With the start of Cybercab production, Tesla, Inc. is officially entering a "burning money for AI period" Investors are currently closely watching whether the expansion of Robotaxi can be scaled, the pace of production/commercialization of Optimus humanoid Siasun Robot&Automation, AI computing power capital expenditures, and the financing path of the epic chip manufacturing project called "Terafab"; in addition, SpaceX and its IPO plans, as well as the space AI data center blueprint, have become central to the financial discussions at Tesla, Inc. The growth prospects of the commercial space sector led by SpaceX and the SpaceX IPO have become key marginal variables that influence Tesla, Inc.'s valuation premium and the "Musk premium". The core signal from Tesla, Inc.'s latest financial report and Cybercab production is undoubtedly that the company is accelerating its shift from a traditional electric vehicle manufacturer to focusing on the "FSD/Robotaxi autonomous driving travel system + Optimus humanoid Siasun Robot&Automation + Terafab large chip manufacturing project + space AI computing infrastructure" at the level of physical AI super platform company. In the first quarter, Tesla, Inc. had revenue of approximately $22.39 billion, a 16% year-on-year increase, and unexpectedly recorded a positive cash flow of $1.44 billion, better than the market's original expectation of cash burn; however, this seems more like a short-term improvement due to the delay in capital expenditure rhythm, as the company has significantly raised its capital expenditure plan for 2026 from over $20 billion to over $25 billion, and Tesla, Inc.'s CFO has explicitly stated that the remaining time this year will see negative free cash flow. In other words, the true strategic turning point led by Musk is that Tesla, Inc. is officially entering a heavy capital investment cycle laying the groundwork for an AI supercomputing system-driven FSD, Robotaxi, Cybercab, Optimus, Semi, space AI computing infrastructure, and chip manufacturing ambitions. The start of Cybercab production is a key move in Musk's "physical AI super-project," but realizing the narrative and achieving large-scale commercialization are two different matters. As Musk himself mentioned, initial production volumes for Cybercab will be low, and faster ramp-up is expected by the end of this year and next year; he also mentioned that Robotaxi is likely to cover "about a dozen states" in the United States by the end of the year, but also admitted that expansion is subject to strict safety verification constraints, and Robotaxi is unlikely to make a "super significant" financial contribution this year, with real significant contributions likely to come next year. In technical terms, this means that Tesla, Inc.'s core challenge is not just to produce Cybercab, but to prove that its fully unsupervised FSD fully automated driving subscription software can meet regulatory guidelines and can be insured, operated at a scalable level in multiple cities, climates, and border scenarios. For valuation, the start of Cybercab production does increase market confidence in Tesla, Inc.'s Robotaxi growth narrative, but it has not yet fully addressed investors' most pressing concerns about "scalable operational data" and "unit economic models". Whether Tesla, Inc. can turn its grand narratives of AI, FSD, Robotaxi, humanoid Siasun Robot&Automation, and even SpaceX's space AI data center into executable phases that can be rapidly validated by the capital market may be the strongest DRIVE to propel Tesla, Inc.'s stock price towards a new bull market trajectory. What the market needs in the medium to long term is not just strong quarterly financial reports, but a narrative reset that can demonstrate Tesla, Inc.'s transition from "AI options" to "milestone-based phased commercialization"; without clearer execution evidence, even if the short-term financial results are impressive, the stock price will likely remain in a state of "strong financial reports but weak valuation".