07:23 AM EDT, 06/05/2024 (MT Newswires) -- Tesla (TSLA) Chief Executive Elon Musk said the company is likely to spend between $3 billion and $4 billion on Nvidia ( NVDA ) hardware this year, media reports said Tuesday.

"For building the AI training superclusters, Nvidia ( NVDA ) hardware is about 2/3 of the cost," Musk reportedly posted on X.

Out of the $10 billion capital expenditure that Tesla has earmarked for artificial intelligence, around half would be for internal development, Musk added, according to reports.

Tesla did not immediately responded to MT Newswires' request for comment.

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