Tesla (TSLA) quietly cuts 2026 capex guidance to $20B

Tesla has lowered its 2026 capital spending forecast. In its Q3 10-Q, the company now says it expects capital expenditures “to be in excess of $20 billion in 2026,” down from the “more than $25 billion” it had guided since April. The change was in the 10-Q Tesla filed Wednesday, not in the shareholder letter it released the same day.