Tesla Triples Capex to $25B for AI Training, Chip Design, and Semiconductor Fab

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Tesla raised its 2026 capital expenditure plan to $25 billion — three times its historical annual spend — to fund AI training infrastructure, chip design, a new semiconductor R&D fab in Austin, and robotaxi operations. The CFO warned Tesla will have negative free cash flow for the rest of the year, though the company holds $44.7B in cash and equivalents. For builders: Tesla is vertically integrating AI silicon via the Terafab joint venture with Intel using its 14A process node.