{"id":45482,"topic":"ai","source":"The Globe and Mail","title":"Tesla Reaffirms Massive Capital Spending In 2026 For Robotaxis And Artificial Intelligence - The Globe and Mail","url":"https://www.theglobeandmail.com/investing/markets/stocks/TSLA/pressreleases/3450878/tesla-reaffirms-massive-capital-spending-in-2026-for-robotaxis-and-artificial-intelligence/","url_hash":"d7d0828e17a054b11d936936ec60266a1210e4ba","author":"","summary":"Tesla Reaffirms Massive Capital Spending In 2026 For Robotaxis And Artificial Intelligence The Globe and Mail","content":"Key Points\n- Tesla reported earnings on July 22, beating on revenue but falling short in profitability. \n- The company plans to spend $25 billion this year in capex. \nTesla, Inc.(NASDAQ:TSLA) told investors on its Wednesday earnings call that it still plans to invest more than $25 billion on capital projects by the end of this year. The statement reaffirms guidance laid out in April, even as its Q2 profits came in well below what Wall Street expected.\nCapital expenditures (capex) -- the money a company puts into factories, equipment, and other long-lived assets -- hit $5.8 billion in the quarter alone. That’s 142% more than the $2.4 billion the company spent in the same quarter a year ago.\nWhere to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks »\nAs of 10:20 a.m. ET on Friday, Tesla shares have fallen more than 16% since markets closed on Wednesday. The S&P 500 and the Nasdaq Composite were down about 1.3% and 2.8%, respectively, over the same stretch.\nTesla wants to build fast\nChief Financial Officer Vaibhav Taneja confirmed the company is on track to spend $25 billion. More increases are expected over the next two to three years, with the funds earmarked for the company’s Robotaxi fleet, AI computing infrastructure, Optimus manufacturing, and semiconductor fabrication.\nCEO Elon Musk framed the strategy as speed over thrift. \"We should be spending on capex as fast as we can spend, as fast as we can without it being too wasteful,\" he said on the call, adding, \"it's OK to be a little less capital efficient if we get things done sooner.\"\nOptimus, the company’s humanoid robot, is one of Tesla’s top priorities, with Musk having called it a $10 trillion business in the past. The company pulled its Model S and Model X production lines out of the Fremont plant to clear space for first-generation Optimus robots.\nImage Source: Company Image\nThe first units to roll off the line won’t be headed to customers, however. Rather, \"the initial Optimus builds will be used in [its] Optimus Academy for training data collection and further functionality development.\"\nCybercab, the company’s robotaxi, has already begun production at Tesla’s Gigafactory Texas, and Semi production is expected to ramp this year at a new Nevada plant.\nTesla’s numbers missed the mark\nThe quarter's top line was strong. Sales topped $28.2 billion, a 26% increase from a year earlier. That was substantially higher than Wall Street had expected, but it was mostly where the good news ended.\nGross margins fell considerably from 17.2% to 16.8%. Analysts expected an increase to 19.4%. Profits slid as well: non-GAAP earnings came in at $0.33 per share versus the expected $0.51.\nThe bottom line\nTesla is going through a major period of transition, and there are some potentially exciting things happening. The company’s robotaxis are now live in seven cities, the first Optimus robots should be coming off the line by the end of the year, and after some major hits to its sales figures last year in Europe, registrations were up sharply in June across France, Sweden, Italy, and Portugal.\nThat being said, I’m still a skeptic. Tesla is spending record sums on businesses that don't generate revenue yet and, despite their exciting nature, may never become real businesses. Margins are taking a beating, and the company’s CEO is running two of the largest companies around at the same time.\nAnd even after shares have fallen more than 35% since their highs at the end of last year, they are still trading at incredible multiples.\nJohnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy.","image_url":"https://www.theglobeandmail.com/pf/resources/assets/meta/twitter-summary-240x240.png?d=936","lang":"en","published_at":"2026-07-24T15:45:49+00:00","fetched_at":"2026-07-24T17:15:04+00:00","status":"read","starred":0,"extract_state":"ok","summary_auto":"Key Points\n- Tesla reported earnings on July 22, beating on revenue but falling short in profitability. - The company plans to spend $25 billion this year in capex.","cluster_id":1658817,"extract_retries":0,"extract_error":null,"contract_version":"news_item.v1","format_contract_version":"news_item_formats.v1","dedup_url":"https://www.theglobeandmail.com/investing/markets/stocks/TSLA/pressreleases/3450878/tesla-reaffirms-massive-capital-spending-in-2026-for-robotaxis-and-artificial-intelligence/","quality_profile":{"profile_version":"extraction_quality.v2","bucket":"high","confidence":0.9,"failure_kind":"none","retryable":false,"retry_after_attempts":0,"reason":"High confidence: full text extraction produced 3790 characters.","operator_guidance":{"severity":"ok","recommended_action":"trust_full_text","next_step":"Use the extracted full text as the primary article source.","operator_label":"Ready","can_retry":false,"can_use_summary":false,"diagnostics_required":false},"content_depth":{"contract_version":"content_depth.v1","category":"full_text","label":"Full text","has_full_text":true,"has_summary":true,"content_length":3790,"summary_length":164,"usable_text_length":3790,"source_field":"content"},"legacy_collapsed":false,"signals":{"extract_state":"ok","extract_error":null,"extract_retries":0,"content_length":3790,"summary_length":164}},"news_item":{"id":45482,"canonical_url":"https://www.theglobeandmail.com/investing/markets/stocks/TSLA/pressreleases/3450878/tesla-reaffirms-massive-capital-spending-in-2026-for-robotaxis-and-artificial-intelligence/","source_url":"https://www.theglobeandmail.com/investing/markets/stocks/TSLA/pressreleases/3450878/tesla-reaffirms-massive-capital-spending-in-2026-for-robotaxis-and-artificial-intelligence/","title":"Tesla Reaffirms Massive Capital Spending In 2026 For Robotaxis And Artificial Intelligence - The Globe and Mail","source_name":"The Globe and Mail","author":null,"published_at":"2026-07-24T15:45:49+00:00","locale":"en","topic":"ai","tags":[],"rss_summary":"Tesla Reaffirms Massive Capital Spending In 2026 For Robotaxis And Artificial Intelligence The Globe and Mail","full_text":"Key Points\n- Tesla reported earnings on July 22, beating on revenue but falling short in profitability. \n- The company plans to spend $25 billion this year in capex. \nTesla, Inc.(NASDAQ:TSLA) told investors on its Wednesday earnings call that it still plans to invest more than $25 billion on capital projects by the end of this year. The statement reaffirms guidance laid out in April, even as its Q2 profits came in well below what Wall Street expected.\nCapital expenditures (capex) -- the money a company puts into factories, equipment, and other long-lived assets -- hit $5.8 billion in the quarter alone. That’s 142% more than the $2.4 billion the company spent in the same quarter a year ago.\nWhere to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks »\nAs of 10:20 a.m. ET on Friday, Tesla shares have fallen more than 16% since markets closed on Wednesday. The S&P 500 and the Nasdaq Composite were down about 1.3% and 2.8%, respectively, over the same stretch.\nTesla wants to build fast\nChief Financial Officer Vaibhav Taneja confirmed the company is on track to spend $25 billion. More increases are expected over the next two to three years, with the funds earmarked for the company’s Robotaxi fleet, AI computing infrastructure, Optimus manufacturing, and semiconductor fabrication.\nCEO Elon Musk framed the strategy as speed over thrift. \"We should be spending on capex as fast as we can spend, as fast as we can without it being too wasteful,\" he said on the call, adding, \"it's OK to be a little less capital efficient if we get things done sooner.\"\nOptimus, the company’s humanoid robot, is one of Tesla’s top priorities, with Musk having called it a $10 trillion business in the past. The company pulled its Model S and Model X production lines out of the Fremont plant to clear space for first-generation Optimus robots.\nImage Source: Company Image\nThe first units to roll off the line won’t be headed to customers, however. Rather, \"the initial Optimus builds will be used in [its] Optimus Academy for training data collection and further functionality development.\"\nCybercab, the company’s robotaxi, has already begun production at Tesla’s Gigafactory Texas, and Semi production is expected to ramp this year at a new Nevada plant.\nTesla’s numbers missed the mark\nThe quarter's top line was strong. Sales topped $28.2 billion, a 26% increase from a year earlier. That was substantially higher than Wall Street had expected, but it was mostly where the good news ended.\nGross margins fell considerably from 17.2% to 16.8%. Analysts expected an increase to 19.4%. Profits slid as well: non-GAAP earnings came in at $0.33 per share versus the expected $0.51.\nThe bottom line\nTesla is going through a major period of transition, and there are some potentially exciting things happening. The company’s robotaxis are now live in seven cities, the first Optimus robots should be coming off the line by the end of the year, and after some major hits to its sales figures last year in Europe, registrations were up sharply in June across France, Sweden, Italy, and Portugal.\nThat being said, I’m still a skeptic. Tesla is spending record sums on businesses that don't generate revenue yet and, despite their exciting nature, may never become real businesses. Margins are taking a beating, and the company’s CEO is running two of the largest companies around at the same time.\nAnd even after shares have fallen more than 35% since their highs at the end of last year, they are still trading at incredible multiples.\nJohnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy.","excerpt":"Key Points\n- Tesla reported earnings on July 22, beating on revenue but falling short in profitability. - The company plans to spend $25 billion this year in capex.","extraction":{"state":"ok","confidence":0.9,"error":null,"explanation":"High confidence: full text extraction produced 3790 characters.","diagnostics_url":"/api/diagnose?url=https%3A//www.theglobeandmail.com/investing/markets/stocks/TSLA/pressreleases/3450878/tesla-reaffirms-massive-capital-spending-in-2026-for-robotaxis-and-artificial-intelligence/","quality_profile":{"profile_version":"extraction_quality.v2","bucket":"high","confidence":0.9,"failure_kind":"none","retryable":false,"retry_after_attempts":0,"reason":"High confidence: full text extraction produced 3790 characters.","operator_guidance":{"severity":"ok","recommended_action":"trust_full_text","next_step":"Use the extracted full text as the primary article source.","operator_label":"Ready","can_retry":false,"can_use_summary":false,"diagnostics_required":false},"content_depth":{"contract_version":"content_depth.v1","category":"full_text","label":"Full text","has_full_text":true,"has_summary":true,"content_length":3790,"summary_length":164,"usable_text_length":3790,"source_field":"content"},"legacy_collapsed":false,"signals":{"extract_state":"ok","extract_error":null,"extract_retries":0,"content_length":3790,"summary_length":164}}},"display_formats":["compact","card","full","digest_section","json"]},"daily_stack_record":{"title":"Tesla Reaffirms Massive Capital Spending In 2026 For Robotaxis And Artificial Intelligence - The Globe and Mail","url":"https://www.theglobeandmail.com/investing/markets/stocks/TSLA/pressreleases/3450878/tesla-reaffirms-massive-capital-spending-in-2026-for-robotaxis-and-artificial-intelligence/","summary":"Key Points\n- Tesla reported earnings on July 22, beating on revenue but falling short in profitability. - The company plans to spend $25 billion this year in capex.","source":"The Globe and Mail","date":"2026-07-24T15:45:49+00:00","content":"Key Points\n- Tesla reported earnings on July 22, beating on revenue but falling short in profitability. \n- The company plans to spend $25 billion this year in capex. \nTesla, Inc.(NASDAQ:TSLA) told investors on its Wednesday earnings call that it still plans to invest more than $25 billion on capital projects by the end of this year. The statement reaffirms guidance laid out in April, even as its Q2 profits came in well below what Wall Street expected.\nCapital expenditures (capex) -- the money a company puts into factories, equipment, and other long-lived assets -- hit $5.8 billion in the quarter alone. That’s 142% more than the $2.4 billion the company spent in the same quarter a year ago.\nWhere to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks »\nAs of 10:20 a.m. ET on Friday, Tesla shares have fallen more than 16% since markets closed on Wednesday. The S&P 500 and the Nasdaq Composite were down about 1.3% and 2.8%, respectively, over the same stretch.\nTesla wants to build fast\nChief Financial Officer Vaibhav Taneja confirmed the company is on track to spend $25 billion. More increases are expected over the next two to three years, with the funds earmarked for the company’s Robotaxi fleet, AI computing infrastructure, Optimus manufacturing, and semiconductor fabrication.\nCEO Elon Musk framed the strategy as speed over thrift. \"We should be spending on capex as fast as we can spend, as fast as we can without it being too wasteful,\" he said on the call, adding, \"it's OK to be a little less capital efficient if we get things done sooner.\"\nOptimus, the company’s humanoid robot, is one of Tesla’s top priorities, with Musk having called it a $10 trillion business in the past. The company pulled its Model S and Model X production lines out of the Fremont plant to clear space for first-generation Optimus robots.\nImage Source: Company Image\nThe first units to roll off the line won’t be headed to customers, however. Rather, \"the initial Optimus builds will be used in [its] Optimus Academy for training data collection and further functionality development.\"\nCybercab, the company’s robotaxi, has already begun production at Tesla’s Gigafactory Texas, and Semi production is expected to ramp this year at a new Nevada plant.\nTesla’s numbers missed the mark\nThe quarter's top line was strong. Sales topped $28.2 billion, a 26% increase from a year earlier. That was substantially higher than Wall Street had expected, but it was mostly where the good news ended.\nGross margins fell considerably from 17.2% to 16.8%. Analysts expected an increase to 19.4%. Profits slid as well: non-GAAP earnings came in at $0.33 per share versus the expected $0.51.\nThe bottom line\nTesla is going through a major period of transition, and there are some potentially exciting things happening. The company’s robotaxis are now live in seven cities, the first Optimus robots should be coming off the line by the end of the year, and after some major hits to its sales figures last year in Europe, registrations were up sharply in June across France, Sweden, Italy, and Portugal.\nThat being said, I’m still a skeptic. Tesla is spending record sums on businesses that don't generate revenue yet and, despite their exciting nature, may never become real businesses. Margins are taking a beating, and the company’s CEO is running two of the largest companies around at the same time.\nAnd even after shares have fallen more than 35% since their highs at the end of last year, they are still trading at incredible multiples.\nJohnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy.","confidence":0.9,"diagnostics_url":"/api/diagnose?url=https%3A//www.theglobeandmail.com/investing/markets/stocks/TSLA/pressreleases/3450878/tesla-reaffirms-massive-capital-spending-in-2026-for-robotaxis-and-artificial-intelligence/","quality_bucket":"high","failure_kind":"none","retryable":false,"quality_reason":"High confidence: full text extraction produced 3790 characters.","quality_profile":{"profile_version":"extraction_quality.v2","bucket":"high","confidence":0.9,"failure_kind":"none","retryable":false,"retry_after_attempts":0,"reason":"High confidence: full text extraction produced 3790 characters.","operator_guidance":{"severity":"ok","recommended_action":"trust_full_text","next_step":"Use the extracted full text as the primary article source.","operator_label":"Ready","can_retry":false,"can_use_summary":false,"diagnostics_required":false},"content_depth":{"contract_version":"content_depth.v1","category":"full_text","label":"Full text","has_full_text":true,"has_summary":true,"content_length":3790,"summary_length":164,"usable_text_length":3790,"source_field":"content"},"legacy_collapsed":false,"signals":{"extract_state":"ok","extract_error":null,"extract_retries":0,"content_length":3790,"summary_length":164}},"tags":[]},"fallback_formats":["markdown","json","html"],"actions":{"read":"/item/45482","export_markdown":"/api/items/45482/export?format=markdown","export_json":"/api/items/45482/export?format=json","diagnose":"/api/diagnose?url=https%3A//www.theglobeandmail.com/investing/markets/stocks/TSLA/pressreleases/3450878/tesla-reaffirms-massive-capital-spending-in-2026-for-robotaxis-and-artificial-intelligence/"},"formats":{"full":{"id":45482,"title":"Tesla Reaffirms Massive Capital Spending In 2026 For Robotaxis And Artificial Intelligence - The Globe and Mail","url":"https://www.theglobeandmail.com/investing/markets/stocks/TSLA/pressreleases/3450878/tesla-reaffirms-massive-capital-spending-in-2026-for-robotaxis-and-artificial-intelligence/","source":"The Globe and Mail","author":null,"published_at":"2026-07-24T15:45:49+00:00","locale":"en","topic":"ai","tags":[],"excerpt":"Key Points\n- Tesla reported earnings on July 22, beating on revenue but falling short in profitability. - The company plans to spend $25 billion this year in capex.","full_text":"Key Points\n- Tesla reported earnings on July 22, beating on revenue but falling short in profitability. \n- The company plans to spend $25 billion this year in capex. \nTesla, Inc.(NASDAQ:TSLA) told investors on its Wednesday earnings call that it still plans to invest more than $25 billion on capital projects by the end of this year. The statement reaffirms guidance laid out in April, even as its Q2 profits came in well below what Wall Street expected.\nCapital expenditures (capex) -- the money a company puts into factories, equipment, and other long-lived assets -- hit $5.8 billion in the quarter alone. That’s 142% more than the $2.4 billion the company spent in the same quarter a year ago.\nWhere to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks »\nAs of 10:20 a.m. ET on Friday, Tesla shares have fallen more than 16% since markets closed on Wednesday. The S&P 500 and the Nasdaq Composite were down about 1.3% and 2.8%, respectively, over the same stretch.\nTesla wants to build fast\nChief Financial Officer Vaibhav Taneja confirmed the company is on track to spend $25 billion. More increases are expected over the next two to three years, with the funds earmarked for the company’s Robotaxi fleet, AI computing infrastructure, Optimus manufacturing, and semiconductor fabrication.\nCEO Elon Musk framed the strategy as speed over thrift. \"We should be spending on capex as fast as we can spend, as fast as we can without it being too wasteful,\" he said on the call, adding, \"it's OK to be a little less capital efficient if we get things done sooner.\"\nOptimus, the company’s humanoid robot, is one of Tesla’s top priorities, with Musk having called it a $10 trillion business in the past. The company pulled its Model S and Model X production lines out of the Fremont plant to clear space for first-generation Optimus robots.\nImage Source: Company Image\nThe first units to roll off the line won’t be headed to customers, however. Rather, \"the initial Optimus builds will be used in [its] Optimus Academy for training data collection and further functionality development.\"\nCybercab, the company’s robotaxi, has already begun production at Tesla’s Gigafactory Texas, and Semi production is expected to ramp this year at a new Nevada plant.\nTesla’s numbers missed the mark\nThe quarter's top line was strong. Sales topped $28.2 billion, a 26% increase from a year earlier. That was substantially higher than Wall Street had expected, but it was mostly where the good news ended.\nGross margins fell considerably from 17.2% to 16.8%. Analysts expected an increase to 19.4%. Profits slid as well: non-GAAP earnings came in at $0.33 per share versus the expected $0.51.\nThe bottom line\nTesla is going through a major period of transition, and there are some potentially exciting things happening. The company’s robotaxis are now live in seven cities, the first Optimus robots should be coming off the line by the end of the year, and after some major hits to its sales figures last year in Europe, registrations were up sharply in June across France, Sweden, Italy, and Portugal.\nThat being said, I’m still a skeptic. Tesla is spending record sums on businesses that don't generate revenue yet and, despite their exciting nature, may never become real businesses. Margins are taking a beating, and the company’s CEO is running two of the largest companies around at the same time.\nAnd even after shares have fallen more than 35% since their highs at the end of last year, they are still trading at incredible multiples.\nJohnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy.","reading_time_min":3,"extraction":{"state":"ok","confidence":0.9,"error":null,"explanation":"High confidence: full text extraction produced 3790 characters.","diagnostics_url":"/api/diagnose?url=https%3A//www.theglobeandmail.com/investing/markets/stocks/TSLA/pressreleases/3450878/tesla-reaffirms-massive-capital-spending-in-2026-for-robotaxis-and-artificial-intelligence/","quality_profile":{"profile_version":"extraction_quality.v2","bucket":"high","confidence":0.9,"failure_kind":"none","retryable":false,"retry_after_attempts":0,"reason":"High confidence: full text extraction produced 3790 characters.","operator_guidance":{"severity":"ok","recommended_action":"trust_full_text","next_step":"Use the extracted full text as the primary article source.","operator_label":"Ready","can_retry":false,"can_use_summary":false,"diagnostics_required":false},"content_depth":{"contract_version":"content_depth.v1","category":"full_text","label":"Full text","has_full_text":true,"has_summary":true,"content_length":3790,"summary_length":164,"usable_text_length":3790,"source_field":"content"},"legacy_collapsed":false,"signals":{"extract_state":"ok","extract_error":null,"extract_retries":0,"content_length":3790,"summary_length":164}}},"quality_profile":{"profile_version":"extraction_quality.v2","bucket":"high","confidence":0.9,"failure_kind":"none","retryable":false,"retry_after_attempts":0,"reason":"High confidence: full text extraction produced 3790 characters.","operator_guidance":{"severity":"ok","recommended_action":"trust_full_text","next_step":"Use the extracted full text as the primary article source.","operator_label":"Ready","can_retry":false,"can_use_summary":false,"diagnostics_required":false},"content_depth":{"contract_version":"content_depth.v1","category":"full_text","label":"Full text","has_full_text":true,"has_summary":true,"content_length":3790,"summary_length":164,"usable_text_length":3790,"source_field":"content"},"legacy_collapsed":false,"signals":{"extract_state":"ok","extract_error":null,"extract_retries":0,"content_length":3790,"summary_length":164}},"actions":{"read":"/item/45482","export_markdown":"/api/items/45482/export?format=markdown","export_json":"/api/items/45482/export?format=json","diagnose":"/api/diagnose?url=https%3A//www.theglobeandmail.com/investing/markets/stocks/TSLA/pressreleases/3450878/tesla-reaffirms-massive-capital-spending-in-2026-for-robotaxis-and-artificial-intelligence/"}},"digest":{"id":45482,"title":"Tesla Reaffirms Massive Capital Spending In 2026 For Robotaxis And Artificial Intelligence - The Globe and Mail","url":"https://www.theglobeandmail.com/investing/markets/stocks/TSLA/pressreleases/3450878/tesla-reaffirms-massive-capital-spending-in-2026-for-robotaxis-and-artificial-intelligence/","source":"The Globe and Mail","topic":"ai","published_at":"2026-07-24T15:45:49+00:00","excerpt":"Key Points - Tesla reported earnings on July 22, beating on revenue but falling short in profitability. - The company plans to spend $25 billion this year in capex.","quality_bucket":"high","quality_reason":"High confidence: full text extraction produced 3790 characters.","reading_time_min":3,"cluster_id":1658817},"card":{"display_title":"Tesla Reaffirms Massive Capital Spending In 2026 For Robotaxis And Artificial Intelligence - The Globe and Mail","subtitle":"The Globe and Mail · 2026-07-24","summary":"Key Points - Tesla reported earnings on July 22, beating on revenue but falling short in profitability. - The company plans to spend $25 billion this year in capex.","badges":["quality:high"],"links":{"read":"/item/45482","original":"https://www.theglobeandmail.com/investing/markets/stocks/TSLA/pressreleases/3450878/tesla-reaffirms-massive-capital-spending-in-2026-for-robotaxis-and-artificial-intelligence/","diagnose":"/api/diagnose?url=https%3A//www.theglobeandmail.com/investing/markets/stocks/TSLA/pressreleases/3450878/tesla-reaffirms-massive-capital-spending-in-2026-for-robotaxis-and-artificial-intelligence/"},"quality_warning":null},"export":{"title":"Tesla Reaffirms Massive Capital Spending In 2026 For Robotaxis And Artificial Intelligence - The Globe and Mail","url":"https://www.theglobeandmail.com/investing/markets/stocks/TSLA/pressreleases/3450878/tesla-reaffirms-massive-capital-spending-in-2026-for-robotaxis-and-artificial-intelligence/","summary":"Key Points\n- Tesla reported earnings on July 22, beating on revenue but falling short in profitability. - The company plans to spend $25 billion this year in capex.","source":"The Globe and Mail","date":"2026-07-24T15:45:49+00:00","content":"Key Points\n- Tesla reported earnings on July 22, beating on revenue but falling short in profitability. \n- The company plans to spend $25 billion this year in capex. \nTesla, Inc.(NASDAQ:TSLA) told investors on its Wednesday earnings call that it still plans to invest more than $25 billion on capital projects by the end of this year. The statement reaffirms guidance laid out in April, even as its Q2 profits came in well below what Wall Street expected.\nCapital expenditures (capex) -- the money a company puts into factories, equipment, and other long-lived assets -- hit $5.8 billion in the quarter alone. That’s 142% more than the $2.4 billion the company spent in the same quarter a year ago.\nWhere to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks »\nAs of 10:20 a.m. ET on Friday, Tesla shares have fallen more than 16% since markets closed on Wednesday. The S&P 500 and the Nasdaq Composite were down about 1.3% and 2.8%, respectively, over the same stretch.\nTesla wants to build fast\nChief Financial Officer Vaibhav Taneja confirmed the company is on track to spend $25 billion. More increases are expected over the next two to three years, with the funds earmarked for the company’s Robotaxi fleet, AI computing infrastructure, Optimus manufacturing, and semiconductor fabrication.\nCEO Elon Musk framed the strategy as speed over thrift. \"We should be spending on capex as fast as we can spend, as fast as we can without it being too wasteful,\" he said on the call, adding, \"it's OK to be a little less capital efficient if we get things done sooner.\"\nOptimus, the company’s humanoid robot, is one of Tesla’s top priorities, with Musk having called it a $10 trillion business in the past. The company pulled its Model S and Model X production lines out of the Fremont plant to clear space for first-generation Optimus robots.\nImage Source: Company Image\nThe first units to roll off the line won’t be headed to customers, however. Rather, \"the initial Optimus builds will be used in [its] Optimus Academy for training data collection and further functionality development.\"\nCybercab, the company’s robotaxi, has already begun production at Tesla’s Gigafactory Texas, and Semi production is expected to ramp this year at a new Nevada plant.\nTesla’s numbers missed the mark\nThe quarter's top line was strong. Sales topped $28.2 billion, a 26% increase from a year earlier. That was substantially higher than Wall Street had expected, but it was mostly where the good news ended.\nGross margins fell considerably from 17.2% to 16.8%. Analysts expected an increase to 19.4%. Profits slid as well: non-GAAP earnings came in at $0.33 per share versus the expected $0.51.\nThe bottom line\nTesla is going through a major period of transition, and there are some potentially exciting things happening. The company’s robotaxis are now live in seven cities, the first Optimus robots should be coming off the line by the end of the year, and after some major hits to its sales figures last year in Europe, registrations were up sharply in June across France, Sweden, Italy, and Portugal.\nThat being said, I’m still a skeptic. Tesla is spending record sums on businesses that don't generate revenue yet and, despite their exciting nature, may never become real businesses. Margins are taking a beating, and the company’s CEO is running two of the largest companies around at the same time.\nAnd even after shares have fallen more than 35% since their highs at the end of last year, they are still trading at incredible multiples.\nJohnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy.","confidence":0.9,"diagnostics_url":"/api/diagnose?url=https%3A//www.theglobeandmail.com/investing/markets/stocks/TSLA/pressreleases/3450878/tesla-reaffirms-massive-capital-spending-in-2026-for-robotaxis-and-artificial-intelligence/","quality_bucket":"high","failure_kind":"none","retryable":false,"quality_reason":"High confidence: full text extraction produced 3790 characters.","quality_profile":{"profile_version":"extraction_quality.v2","bucket":"high","confidence":0.9,"failure_kind":"none","retryable":false,"retry_after_attempts":0,"reason":"High confidence: full text extraction produced 3790 characters.","operator_guidance":{"severity":"ok","recommended_action":"trust_full_text","next_step":"Use the extracted full text as the primary article source.","operator_label":"Ready","can_retry":false,"can_use_summary":false,"diagnostics_required":false},"content_depth":{"contract_version":"content_depth.v1","category":"full_text","label":"Full text","has_full_text":true,"has_summary":true,"content_length":3790,"summary_length":164,"usable_text_length":3790,"source_field":"content"},"legacy_collapsed":false,"signals":{"extract_state":"ok","extract_error":null,"extract_retries":0,"content_length":3790,"summary_length":164}},"tags":[],"format_contract_version":"news_item_formats.v1"}}}