India, Jan. 29 -- Tesla Inc. has reported a 61% drop in fourth-quarter profits due to lower sales even as CEO Elon Musk doubles down on AI investments.

The results conclude a turbulent year for Tesla, which included a controversial Musk stint in Donald Trump's White House and a shareholder vote in November to award the outspoken CEO a pay package worth as much as $1 trillion in anticipation of massive technology breakthroughs at Tesla.

* Revenue down 3.1% YoY at $24.9 billion

* Net profit down 61% YoY at $840 million

Lower profits had been expected after Tesla reported a drop in fourth-quarter and full-year auto deliveries early in January.

But a company presentation also cited a litany of other factors. These included higher restruc...