Tesla (TSLA) quietly cuts 2026 capex guidance to $20B

According to Electrek, Tesla cut its 2026 capital spending guidance to more than $20 billion from more than $25 billion in its Q3 filing, not its shareholder letter. The target was raised in April after starting the year at about $20 billion, and executives called 2026 a massive capex year for AI compute, robotics and autonomous vehicles. Tesla has spent $13.01 billion through three quarters, so the new floor requires about $7 billion in Q4 versus $12 billion for the prior target.

The filing cites silicon initiatives, compute infrastructure, data centers, factory ramps and a fleet of company-operated assets, but unpaid equipment liabilities rose to $3.67 billion, showing actual spending exceeds reported cash capex. Free cash flow of $1.53 billion depended on a $2.59 billion working capital boost from unpaid bills and deferred revenue that includes undelivered Megapacks billed to SpaceX; on an as-spent basis it was near $500 million. The reduction follows a new $30 billion credit facility and may signal projects slipping to 2027 or cash preservation.

Source

Tesla (TSLA) quietly cuts 2026 capex guidance to $20B — Electrek