Elon Musk says Tesla plans to "spend as fast as we can" on capex in 2026

Amid a broad technology stock rout triggered by growing investor unease over the massive sums companies are funneling into artificial intelligence, Tesla chief executive Elon Musk told shareholders that the electric-vehicle maker intends to invest heavily in capital expenditures in 2026. Musk’s statement followed Tesla’s earnings report, which fell far short of analyst expectations, and came the same day Alphabet disclosed an unexpectedly large capital spending forecast. The combined news sent the Magnificent 7 index down nearly 5 percent in a single session, erasing roughly $800 billion in market value. Musk’s remarks signal that Tesla will continue aggressive spending even as Wall Street increasingly questions whether such investments will deliver clear returns.