Tesla reported a 16% drop in automotive revenue for Q2, sending its stock down nearly 5% in after-hours trading to $317.80. Despite the earnings miss, CEO Elon Musk grabbed headlines with a quirky distraction: robots in “cute outfits” serving food at the newly opened Tesla Diner in West Hollywood.
The diner, a retro-themed concept, opened this week with long queues outside. Musk said the Optimus robot, which currently serves popcorn, will soon deliver food to cars wearing playful costumes. “We’ll go from a world where robots are rare to where they’re so common that you don’t even look up,” he said during the investor call.
Meanwhile, Tesla reaffirmed its ambitions in AI and robotics, announcing the launch of its robotaxi service in Austin. On X, the company posted: “Our long-term goal is to lead in AI and robotics.”
Bitcoin, bots & burgers
Tesla’s Bitcoin holdings also caught investor attention. Though the company didn’t make new BTC purchases in Q2, its 11,509 BTC are now worth $1.36 billion, up from $1.23 billion at quarter-end due to the market rally. During the Q2 earnings call, CFO Vaibhav Taneja, referred to by Musk as “DevOps Ninja,” explained that the increase in other income to $284 million was due to a mark-to-market adjustment on assets such as Bitcoin, while also cautioning that this would continue to introduce volatility based on Bitcoin’s price.
The Tesla Diner’s two-story space accommodates over 250 guests and stays open 24/7. Despite mixed reviews and complaints about prices—$21.50 for a burger meal—the launch has drawn considerable buzz. Tesla Charging shared opening photos showing crowds lining up.
Source: Elon Musk
The launch underscores Musk’s strategy of mixing innovation with entertainment—even when earnings underperform.