Tesla announced agreement to acquire an unnamed AI hardware company for up to $2.0 billion in Tesla common stock and equity awards.
Approximately $1.8 billion of the purchase price is contingent on service conditions and performance milestones tied to technology deployment.
The acquisition agreement was entered into in April 2026 and disclosed in Tesla’s 10‑Q filing made public on Thursday.
Tesla did not reveal the target company’s name in the filing.