TSLA - TESLA NEEDS ROBOTAXI PROOF TO WIN INVESTORS Morgan Stanley says Tesla must show clear evidence that Robotaxi is scaling to strengthen investor confidence. Investors remain positive on Tesla’s Physical AI strategy, helped by stronger Full Self-Driving adoption. However, weaker margins, higher R&D spending and cash burn are increasing pressure for measurable results. Key proof points include more Robotaxis, greater city density, rising unsupervised miles, better economics and tangible Optimus progress. Robotaxi remains the near-term test of Tesla’s AI ambitions.(*Walter Bloomberg)