Key facts
- Tesla has secured $30 billion in new credit facilities.
- A $20 billion delayed draw term loan facility is part of the new credit agreements.
- The company expects full-year capital expenditures to exceed $25 billion.
- Investments will accelerate across robotaxi, Optimus humanoid robots, in-house chip fabrication, and AI compute infrastructure.
- Tesla reported negative free cash flow of $1.09 billion in Q2 2026.
- Operating margin compressed to 1.4% in Q2 2026.
Tesla has entered into credit agreements totaling $30 billion, including a $20 billion delayed draw term loan facility, according to a regulatory filing. The electric vehicle maker is accelerating investments across multiple ventures, including its robotaxi service, Optimus humanoid robots, in-house chip fabrication (Terafab), and AI compute infrastructure. The company expects its full-year capital expenditures to exceed $25 billion.
In the second quarter of 2026, Tesla reported revenue of $28.24 billion, a 26% year-over-year increase, but net income and earnings per share fell short of expectations. While operating cash flow surged 85% to $4.7 billion, capital expenditures more than doubled to $5.79 billion, resulting in negative free cash flow of $1.09 billion. The company described the quarter as the entry into its "largest and most exciting period of investment."
Tesla's operating margin compressed to 1.4% from 4.1% year-over-year due to a 47% surge in operating expenses. Management acknowledged execution risks and regulatory uncertainties, with Elon Musk noting the complexity of Optimus and the potential for incidents to halt autonomous vehicle rollouts. Despite expansion into seven metro areas for its robotaxi service, paid-mileage growth has flattened sequentially, raising questions about adoption velocity.