San Francisco · SpaceX · Tesla · Elon Musk · The Register
Tesla burns through a billion as Musk bets the farm on chips and bots
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Key facts
- The company has poured resources into AI silicon and robotics, with capex [PDF] more than doubling from $2.5 billion in the previous quarter to $5.8 billion
- As for Tesla's automaker business, vehicle deliveries were up 25 percent year-on-year in Q2 to 480,126, and total automotive revenues surpassed $20 billion
- That left Tesla with negative free cash flow of $1.1 billion, down 848 percent year-on-year
- Tesla's investment bill ballooned in calendar Q2 as Elon Musk's biz entered what it calls its "largest and most exciting period of investment
Summary
Tesla's investment bill ballooned in calendar Q2 as Elon Musk's biz entered what it calls its "largest and most exciting period of investment. The company has poured resources into AI silicon and robotics, with capex more than doubling from $2.5 billion in the previous quarter to $5.8 billion. That left Tesla with negative free cash flow of $1.1 billion, down 848 percent year-on-year. During the earnings call, Musk talked up Tesla's Terafab ambitions but gave little detail other than calling it an "amazing initiative" and confirming that equipment orders had been placed for the development fab in Austin.