Tesla raised its 2026 capital expenditure forecast to over $25 billion during its first-quarter earnings call. This updated guidance represents an increase from the previous $20 billion estimate. The new budget more than doubles the company's 2025 investment total. Tesla projects negative free cash flow for the remainder of the year as a result of this spending.
The capital will fund the construction of six new factories. Tesla will also use the funds to accelerate production of the Cybercab and Semi truck. Additional investments target the Optimus humanoid robot program and a major expansion of artificial intelligence infrastructure.