Tesla is building a robotaxi, but there's a hidden cost

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Tesla (TSLA) will report its latest quarterly report on Tuesday, July 23 after the closing bell with investors patiently awaiting any news on its robotaxi product. The adoption of the technology has been slow so far but could be a disrupter in the auto space.

Canaccord Genuity managing director George Gianarikas joins Market Domination to give insight into Tesla's upcoming earnings report and self-driving car adoption across the US.

On the progress of robotaxi rollout, both with Tesla and other companies offering the service, Gianarikas states: "The problem with that particular service is that it's really, really expensive to build the vehicle. Right? The Tesla vehicles have an advantage because, according to Elon Musk, they only have cameras and the computer. But the hidden cost--and we recently put a note about out about this-- is that the difference in approaches is that Elon Musk is building a massive data center infrastructure to support that... and he's disclosed that it's cost cumulatively well over $10 billion to build that."

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This post was written by Nicholas Jacobino