Tesla Forecasts Over $25B 2026 Capex as First High-Volume Semi Begins Production
Tesla’s CFO projected 2026 capital expenditures above $25 billion, resulting in negative free cash flow through year-end, while first high-volume Tesla Semi rolled off Sparks, Nev., production line. The automaker also recorded $573 million in 2025 revenue from SpaceX and xAI, including $143 million in car sales to SpaceX.
1. Tesla 2026 Capex Estimate Exceeds $25 Billion
Tesla’s CFO disclosed that capital expenditures for 2026 are projected to exceed $25 billion, driven by expansion in AI and robotics initiatives, which is expected to produce negative free cash flow through year-end.
2. First High-Volume Tesla Semi Production
The first Tesla Semi rolled off the high-volume production line in Sparks, Nev., marking the shift from limited pilot runs to salable models available for commercial deployment.
3. Intercompany Sales Contribute $573M in 2025 Revenue
Tesla recorded $573 million in 2025 revenue from SpaceX and xAI, including $143 million from vehicle sales to SpaceX and roughly $430 million from xAI battery storage orders.