Tesla raised its 2026 capital expenditure forecast to more than $25 billion. This update marks a $5 billion increase from previous estimates. The company is targeting these investments toward artificial intelligence, robotics, and robotaxi development.
Tesla reported an adjusted profit of 41 cents per share for the first quarter. This figure exceeded analyst expectations even as the company missed revenue targets. Shares declined in after-hours trading following the announcement of the aggressive spending ramp-up.
Chief Financial Officer Vaibhav Taneja confirmed the company expects negative free cash flow for the remainder of 2026. CEO Elon Musk is shifting Tesla’s primary focus toward AI-driven technologies to expand beyond the core electric vehicle market.