EV giant Tesla Inc (NASDAQ:TSLA) will spend $3 billion to $4 billion this year on hardware purchases from chip company Nvidia Corp (NASDAQ:NVDA) and a majority of its remaining AI-related budget internally, company CEO Elon Musk revealed on Tuesday. What Happened: Musk previously announced that Tesla would spend $10 billion in AI-related expenditures this year. While a significant portion of this budget, about half, would be spent internally, $3-$4 billion will go to purchases from Nvidia, Musk said, adding that it is his “best guess.” “For building the AI training superclusters, NVidia hardwa…
