Tesla’s Q3 financial report reveals a mixed performance: while revenue held relatively steady, sales and gross margins in the automotive segment rebounded strongly thanks to robust demand. However, profits took a significant hit year-on-year, primarily due to a decline in regulatory credit revenue and a substantial uptick in both capital expenditures and R&D spending. The majority of these funds were channeled into cutting-edge areas such as AI, autonomous driving technologies, and humanoid robotics. During the earnings call, Elon Musk shared commercialization timelines for several new initiatives, including Full Self-Driving (FSD), Robotaxi services, the Optimus humanoid robot, and in-house chip development. However, he cautioned that it would take time before these ventures begin contributing meaningfully to the bottom line. As for the rumored merger between SpaceX and Tesla that surfaced the previous day, Musk remained tight-lipped during the call, offering no further details.