Tesla Free Cash Flow Turns Negative to $1 Billion as Capex More Than Doubles

Tesla's Q2 2026 free cash flow swung to negative $1 billion, down from positive $146 million a year earlier, as capital expenditures more than doubled and operating expenses surged 47% to $4.3 billion. The company guided to over $25 billion in full-year capex. Revenue grew 26% to $28.2 billion; operating income fell 57% to $398 million.