Tesla raises 2026 capex guidance to over $25B as it bets big on AI and robotics

Elon Musk says Tesla should be spending on AI 'as fast as we can'

Tesla escalated Q2 capex to $5.8B (+142% YoY), targeting $25B annual spend on robotaxi/AI/Terafab; Musk prioritizes velocity over fiscal efficiency. With Google committing $205B+ on AI infrastructure, underinvesting in capex now means permanent loss of robotics and inference market positions.