Tesla shares fell 2% on Thursday after the electric vehicle maker cut its 2026 capital spending forecast, raising fresh questions over how aggressively the company is prepared to fund Elon Musk’s ambitions in artificial intelligence and robotics.
The company on Wednesday lowered its 2026 capex forecast to about $20 billion from more than $25 billion, after spending much less than expected on AI and robotics in the third quarter. The lower spending helped Tesla deliver surprise positive free cash flow, but it also left investors weighing whether tighter capital deployment could slow the growth story behind the stock.
