By the end of 2024, Elon Musk’s Tesla intends to invest more than $1 billion in Project Dojo. To create the software for self-driving cars, the Dojo supercomputer will be able to analyse enormous volumes of data, including films from Tesla automobiles. The ‘Dojo training computer’ is now in production, Tesla also acknowledged in its most recent earnings call.

In a conference call with investors, Elon Musk disclosed the over $1 billion in spending. Due to consumers using the driver assistance software Autopilot and other related technologies like Full Self Driving Beta, according to Musk, Tesla has a vast amount of video footage.

Due to the use of its customers’ camera-based driving assistance software called Autopilot and a related function known as “Full Self Driving Beta” that has built up more than 300 million miles of data, Musk claimed Tesla has a “staggering amount” of video at its disposal. The business announced in its most recent earnings announcement that production of its “Dojo training computer” had started.

Tesla’s chief financial officer, Zachary Kirkhorn, later stressed that a portion of the investment would go towards capital expenses and the remainder towards R&D. He said that it is a part of the previously disclosed three-year spending projection.

Tesla already has one of the biggest and most potent Nvidia GPU-based supercomputers in the world, according to a report in The Verge. However, the new Dojo supercomputer is being built with CPUs created by Tesla.

Elon Musk has stated that if interest rates continue to climb, the manufacturer of electric cars is likely to keep lowering the pricing of its cars. Tesla outperformed both profit and revenue estimates in the second quarter because to its pricing strategy of cutting prices to increase sales.