Tesla likely to spend $3 bln-$4 bln on Nvidia hardware this year

Earlier on Tuesday, Tesla reportedly told Nvidia to prioritize shipments of AI processors to his companies X and xAI over the electric-vehicle maker.

The development also comes ahead of a crucial shareholder vote on his pay package at Tesla.

Tesla in April reiterated its capital expenditure forecast of more than $10 billion this year and said it had expected capex to be between $8 billion and $10 billion in each of the following years.

Reporting by Zaheer Kachwala in Bengaluru; Editing by Maju Samuel