Tesla raised its 2026 capital expenditure guidance to $25 billion, up from $20 billion announced just three months ago — roughly three times its historical annual capex run rate. The spending covers six simultaneous new production lines including Cybercab robotaxi, Semi trucks, and the Houston Gigafactory, plus a dedicated Optimus humanoid robot manufacturing facility near Austin. Large-scale Optimus production is expected to begin in late July or August. Tesla also plans to more than double AI compute capacity within six months and build a semiconductor research facility called 'Terafab' in Austin for chip design. CFO Vaibhav Taneja confirmed Tesla will run negative free cash flow for the rest of 2026, though Q1 delivered a $1.4 billion positive free cash flow beat and the company holds $44.7 billion in cash.
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