Musk Urges Patience on Optimus and Robotaxi as Capex Exceeds $25B

Tesla shares hold near $411 after Elon Musk told investors to expect slow ramps for Optimus and unsupervised Robotaxi, with material revenue unlikely until 2027. The week opened with OpenAI’s robotics division launch that briefly pressured sentiment, but Counterpoint Research quickly countered with bullish details on Tesla’s AI5 chips and supplier network. Management lifted 2026 capex guidance to $25 billion, directing funds to Cybercab, Optimus and AI infrastructure. The narrative culminated in SpaceX’s $86 billion capital raise providing indirect acceleration for Tesla’s FSD and robotaxi ambitions.