Tesla Shares Drop 3% as Musk Delays FSD, Robotaxis and Raises Capex $5B

Tesla Inc shares slid roughly 3% intraday to around $374 after Q1 earnings and CEO Elon Musk's call revealed delays in unsupervised full self-driving software, a slower robotaxi rollout limited to about a dozen states by end-2026, and confirmation that Hardware 3 vehicles (2019-2023) need paid upgrades for FSD access. The company also boosted 2026 capital-expenditure guidance by $5 billion to $25 billion for microfactories, AI, and humanoid investments. With the stock trading at a lofty ~187x forward earnings, analysts see unfavorable risk/reward and near-term sentiment pressure until clearer progress emerges.