{
  "schemaVersion": "1.0",
  "slug": "tesla-one-share-a-dozen-businesses",
  "title": "One Share, a Dozen Businesses: A Map of What Tesla Actually Owns",
  "format": "deep-dive",
  "theme": "tesla",
  "topics": [
    "tesla-segments",
    "energy-storage",
    "fsd",
    "robotaxi",
    "cybercab",
    "optimus",
    "tesla-semi",
    "ai-compute",
    "spacex-special-committee",
    "tariff-refunds",
    "nhtsa"
  ],
  "published": "2026-11-13",
  "asOf": "2026-11-12",
  "articleUrl": "https://brandonstmartin.com/blog/tesla-one-share-a-dozen-businesses",
  "markdownUrl": "https://brandonstmartin.com/blog/tesla-one-share-a-dozen-businesses.md",
  "factsUrl": "https://brandonstmartin.com/blog/tesla-one-share-a-dozen-businesses.facts.json",
  "takeaways": [
    "Tesla reports two segments but runs about a dozen businesses, each on its own S-curve. The table maps 11 lines: 10 operating businesses (cars, grid storage, home energy, Semi, FSD, robotaxi, Optimus, AI compute and chips, services and charging, and battery materials) plus the SpaceX and Bitcoin stakes.",
    "Q3 2026 profit leaned on a one-time item: about $447M of the $718M operating income came from net IEEPA tariff refunds; excluding them, BSM estimates about $271M.",
    "Among disclosed revenue drivers, the fastest-growing are FSD subscriptions (1.74M, +67% y/y) and services and other revenue (+33% to $4.61B); FSD revenue is not disclosed and automotive revenue fell 3%.",
    "Optimus, Cybercab and the Semi have production lines and the chip fab is under construction, but Tesla discloses no unit sales or revenue for any of them as of Q3 2026.",
    "We see governance as the biggest near-term variable: a Tesla Special Committee is exploring a deeper SpaceX relationship, and Bloomberg reports an announcement could come as soon as December 2026; nothing is agreed."
  ],
  "facts": [
    {
      "id": "auto-revenue-q3-2026",
      "label": "Total automotive revenue, Q3 2026",
      "value": 20560,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified",
      "note": "Down 3% y/y from $21,205M. Includes automotive sales, regulatory credits and leasing."
    },
    {
      "id": "auto-deliveries-q3-2026",
      "label": "Vehicle deliveries, Q3 2026",
      "value": 486532,
      "unit": "vehicles",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 production and deliveries, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026064366/exhibit991111111.htm",
        "date": "2026-10-02"
      },
      "status": "verified",
      "note": "Model 3/Y 478,237; other models 8,295. Passenger vehicles only; excludes Semi."
    },
    {
      "id": "auto-gross-margin-q3-2026",
      "label": "Total automotive gross margin, Q3 2026",
      "value": 18.5,
      "unit": "percent",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified",
      "note": "Up from 17.0% in Q3 2025. Includes a $260M IEEPA tariff refund booked as a reduction to automotive cost of sales (10-Q). Ex-refund about 17.2%: see auto-gross-margin-ex-tariff-refund-q3-2026."
    },
    {
      "id": "auto-regulatory-credits-q3-2026",
      "label": "Automotive regulatory credits revenue, Q3 2026",
      "value": 113,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified",
      "note": "Down 73% y/y from $417M."
    },
    {
      "id": "auto-model-3y-installed-capacity",
      "label": "Installed annual Model 3/Y capacity (sum of California, Shanghai, Berlin, Texas)",
      "value": ">2,250,000",
      "unit": "vehicles per year",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 Update, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm",
        "date": "2026-10-21"
      },
      "status": "bsm",
      "note": "BSM sum of Tesla's listed lower bounds: >550,000 + >950,000 + >375,000 + >375,000. Installed capacity is not production rate."
    },
    {
      "id": "auto-cumulative-deliveries",
      "label": "Cumulative vehicle deliveries, all time",
      "value": 10.2,
      "unit": "million vehicles",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 Update, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm",
        "date": "2026-10-21"
      },
      "status": "verified",
      "note": "Cumulative count under the 2025 CEO award definition (includes unsupervised Robotaxis placed into commercial operation). Not the active fleet, and not all of these vehicles run Tesla-designed chips."
    },
    {
      "id": "energy-storage-revenue-q3-2026",
      "label": "Energy generation and storage segment revenue, Q3 2026",
      "value": 2881,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified",
      "note": "Down 16% y/y; includes a $339M reduction for IEEPA tariff refunds owed to certain storage customers. A separate $526M refund cut energy cost of revenue, so the net energy gross-profit effect was about +$187M (BSM)."
    },
    {
      "id": "energy-storage-gross-margin-q3-2026",
      "label": "Energy generation and storage gross margin, Q3 2026",
      "value": 33.1,
      "unit": "percent",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified",
      "note": "Reported. Up from 31.4% in Q3 2025 and 20.4% in Q2 2026. The CFO attributed the sequential jump primarily to tariff refunds and supplier cell-warranty reimbursements (call). Ex-refund about 23.8%: see energy-storage-gross-margin-ex-tariff-refund-q3-2026."
    },
    {
      "id": "energy-storage-deployments-q3-2026",
      "label": "Energy storage deployed, Q3 2026",
      "value": 13.7,
      "unit": "GWh",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 production and deliveries, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026064366/exhibit991111111.htm",
        "date": "2026-10-02"
      },
      "status": "verified",
      "note": "Nine-month 2026 total 36.0 GWh (10-Q)."
    },
    {
      "id": "energy-storage-deployments-9m-2026",
      "label": "Energy storage deployed, first nine months of 2026",
      "value": 36.0,
      "unit": "GWh",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified"
    },
    {
      "id": "energy-storage-megapack-capacity",
      "label": "Installed annual Megapack capacity (California 40 + Shanghai 20 + Texas 50)",
      "value": 110,
      "unit": "GWh per year",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 Update, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm",
        "date": "2026-10-21"
      },
      "status": "bsm",
      "note": "BSM sum of Tesla-listed capacities. Texas Megafactory began production in Q3 2026."
    },
    {
      "id": "energy-storage-spacex-revenue-9m-2026",
      "label": "Megapack revenue from SpaceX (related party), first nine months of 2026",
      "value": 626,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified",
      "note": "Q3 2026: $221M. Cost of revenue $478M over nine months, implying about 23.6% gross margin (BSM) vs the segment's 30.2% nine-month margin. Receivable from SpaceX $729M gross, of which $588M is billing for undelivered Megapacks; net $141M (10-Q)."
    },
    {
      "id": "energy-storage-2027-sold-out",
      "label": "Musk: Megapacks for 2027 'almost sold out'",
      "value": "almost sold out",
      "unit": "qualitative",
      "asOf": "2026-10-21",
      "source": {
        "name": "Tesla Q3 2026 earnings call (held 2026-10-21), Motley Fool transcript (published 2026-10-22)",
        "url": "https://www.fool.com/earnings/call-transcripts/2026/10/22/tesla-tsla-q3-2026-earnings-call-transcript/",
        "date": "2026-10-21"
      },
      "status": "reported",
      "note": "Management statement on the Q3 call; no backlog figure disclosed."
    },
    {
      "id": "energy-home-powerwall-capacity",
      "label": "Installed annual Powerwall capacity (Nevada)",
      "value": ">6",
      "unit": "GWh per year",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 Update, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm",
        "date": "2026-10-21"
      },
      "status": "verified",
      "note": "Home energy revenue not disclosed separately; Powerwall deployments fell in Q3 per 10-Q."
    },
    {
      "id": "semi-installed-capacity",
      "label": "Tesla Semi installed annual capacity (Nevada)",
      "value": 25000,
      "unit": "trucks per year",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 Update, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm",
        "date": "2026-10-21"
      },
      "status": "verified",
      "note": "Volume production began Q3 2026. Electrek cites 50,000/yr plant design; we use Tesla's listed installed capacity."
    },
    {
      "id": "semi-deliveries",
      "label": "Tesla Semi deliveries",
      "value": null,
      "unit": "trucks",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 Update, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm",
        "date": "2026-10-21"
      },
      "status": "verified",
      "note": "Not disclosed. Tesla's production and delivery figures count passenger vehicles only."
    },
    {
      "id": "semi-chicago-batch",
      "label": "Semis en route to Chicago (Tesla Semi account on X, per Electrek)",
      "value": 50,
      "unit": "trucks",
      "asOf": "2026-11-11",
      "source": {
        "name": "Electrek, Tesla confirms delivery of 50 Semi trucks in Chicago",
        "url": "https://electrek.co/2026/11/11/tesla-semi-delivery-50-trucks-chicago-hmd/",
        "date": "2026-11-11"
      },
      "status": "reported",
      "note": "Electrek links the batch to HMD Trucking's order, reported at about $15M."
    },
    {
      "id": "semi-price-per-truck-reported",
      "label": "Implied price per Tesla Semi in the HMD Trucking order (Electrek estimate)",
      "value": 300000,
      "unit": "USD per truck",
      "asOf": "2026-11-11",
      "source": {
        "name": "Electrek, Tesla confirms rare new delivery of 50 Semi electric trucks in Chicago",
        "url": "https://electrek.co/2026/11/11/tesla-semi-delivery-50-trucks-chicago-hmd/",
        "date": "2026-11-11"
      },
      "status": "reported",
      "note": "Electrek's arithmetic: HMD owner Henry Malukas told MotorTrend the deal is worth about $15 million, which Electrek calls 'roughly $300,000 per truck' for 50 trucks, in line with its earlier ~$290,000 Long Range pricing report. Not a Tesla-disclosed price; Tesla doesn't publish Semi pricing in its filings."
    },
    {
      "id": "fsd-active-subscriptions-q3-2026",
      "label": "Active FSD (Supervised) subscriptions, end of Q3 2026",
      "value": 1.74,
      "unit": "million",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 Update, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm",
        "date": "2026-10-21"
      },
      "status": "verified",
      "note": "Up 67% y/y from 1.04M. Includes upfront purchases and monthly subscriptions; excludes free trials."
    },
    {
      "id": "fsd-attach-rate-north-america-q3-2026",
      "label": "FSD attach rate on new North American deliveries, Q3 2026",
      "value": "~75",
      "unit": "percent",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 Update, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm",
        "date": "2026-10-21"
      },
      "status": "verified",
      "note": "Tesla's Q3 Update says 'over 75%'; the 2026-10-29 shareholder letter says '~75%'. CFO noted every new car includes a free month of FSD; churn not disclosed."
    },
    {
      "id": "fsd-eu-approvals",
      "label": "Countries in the EU where FSD (Supervised) is approved",
      "value": 9,
      "unit": "countries",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 Update, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm",
        "date": "2026-10-21"
      },
      "status": "verified"
    },
    {
      "id": "fsd-revenue",
      "label": "FSD revenue",
      "value": null,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified",
      "note": "Not disclosed separately; 10-Q cites higher FSD subscription revenue qualitatively."
    },
    {
      "id": "robotaxi-cumulative-unsupervised-miles",
      "label": "Cumulative unsupervised Robotaxi miles, end of Q3 2026",
      "value": "nearly 2,000,000",
      "unit": "miles",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 Update, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm",
        "date": "2026-10-21"
      },
      "status": "verified",
      "note": "Up eightfold quarter over quarter."
    },
    {
      "id": "robotaxi-cybercab-installed-capacity",
      "label": "Cybercab installed annual capacity (Texas)",
      "value": ">125,000",
      "unit": "vehicles per year",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 Update, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm",
        "date": "2026-10-21"
      },
      "status": "verified",
      "note": "Cybercab rides in Austin began 2026-09-03 (Tesla Update); NHTSA describes the service as 'commercial deployment' (AQ26002)."
    },
    {
      "id": "robotaxi-cities",
      "label": "Cities with Tesla robotaxi service (Austin, Dallas, Fort Worth, Houston, Miami, Orlando, San Antonio)",
      "value": 7,
      "unit": "cities",
      "asOf": "2026-11-09",
      "source": {
        "name": "TechCrunch, Tesla expands robotaxi service to San Antonio",
        "url": "https://techcrunch.com/2026/11/09/tesla-expands-robotaxi-service-to-san-antonio/",
        "date": "2026-11-09"
      },
      "status": "reported",
      "note": "Per TechCrunch; Tesla does not publish a city list in filings. Austin fleet >400 registered vehicles; most other cities a handful to a few dozen."
    },
    {
      "id": "robotaxi-nhtsa-aq26002",
      "label": "NHTSA audit query AQ26002 on Cybercab FMVSS certification",
      "value": "open",
      "unit": "status",
      "asOf": "2026-11-05",
      "source": {
        "name": "NHTSA audit query AQ26002 resume",
        "url": "https://static.nhtsa.gov/odi/inv/2026/INOA-AQ26002-17078.pdf",
        "date": "2026-09-03"
      },
      "status": "verified",
      "note": "Opened 2026-09-03; estimated population 1,000. Electrek (2026-11-05) reports Tesla requested full confidentiality of its 2026-10-30 response."
    },
    {
      "id": "robotaxi-revenue",
      "label": "Robotaxi revenue",
      "value": null,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified",
      "note": "Not disclosed; included in services and other per the Q3 call."
    },
    {
      "id": "optimus-units",
      "label": "Optimus units produced or delivered",
      "value": null,
      "unit": "units",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 Update, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm",
        "date": "2026-10-21"
      },
      "status": "verified",
      "note": "Not disclosed. Early production on Fremont high-volume line; Texas factory under construction."
    },
    {
      "id": "optimus-external-deliveries-timing",
      "label": "Musk's timing for first Optimus deliveries to outside customers",
      "value": "around end of 2027",
      "unit": "timing",
      "asOf": "2026-10-21",
      "source": {
        "name": "Tesla Q3 2026 earnings call (held 2026-10-21), Motley Fool transcript (published 2026-10-22)",
        "url": "https://www.fool.com/earnings/call-transcripts/2026/10/22/tesla-tsla-q3-2026-earnings-call-transcript/",
        "date": "2026-10-21"
      },
      "status": "reported",
      "note": "Musk on the Q3 call: deliveries to customers 'likely to be towards the end of next year' and 'that's the time to expect when we're delivering Optimus to companies outside of Tesla.' Management projection, not a commitment. Earlier 2025–2026 targets slipped (Electrek, 2026-10-22)."
    },
    {
      "id": "ai-compute-training-capacity",
      "label": "Installed SI training compute (Cortex 1 >105 MW + Cortex 2 >120 MW)",
      "value": ">225",
      "unit": "MW",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 Update, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm",
        "date": "2026-10-21"
      },
      "status": "bsm",
      "note": "BSM sum of Tesla-listed figures; excludes 40 MW of other compute. Target 400 MW by end of 2026."
    },
    {
      "id": "ai-compute-capex-9m-2026",
      "label": "Capital expenditures, first nine months of 2026",
      "value": 13010,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified",
      "note": "Versus $6,130M a year earlier."
    },
    {
      "id": "ai-compute-capex-guide-2026",
      "label": "2026 capex guidance (10-Q wording)",
      "value": "in excess of 20,000",
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified",
      "note": "Down from 'in excess of $25 billion' in the Q2 2026 10-Q (filed 2026-07-23). On the Q3 call (2026-10-21) the CFO said 'approximately $20 billion' (reported)."
    },
    {
      "id": "ai-compute-credit-facilities",
      "label": "Credit agreements signed in September 2026",
      "value": 30000,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified",
      "note": "Three agreements; CFO said no draws planned in 2026."
    },
    {
      "id": "ai-compute-dojo-status",
      "label": "Dojo status",
      "value": "team disbanded Aug 2025; Musk said 2026-01-18 Tesla will restart work on Dojo3",
      "unit": "status",
      "asOf": "2026-10-10",
      "source": {
        "name": "Elon Musk on X, 2026-01-18",
        "url": "https://x.com/elonmusk/status/2013034224828215706",
        "date": "2026-01-18"
      },
      "status": "reported",
      "note": "Aug 2025 disbandment: Bloomberg (2025-08-07), carried by Reuters via USA Today (2025-08-08). Restart: Musk on X 2026-01-18 ('Now that the AI5 chip design is in good shape, Tesla will restart work on Dojo3'; same day 'AI7/Dojo3 will be space-based AI compute'), then 2026-04-15 ('AI6, Dojo3 & other exciting chips in work') and 2026-10-10 ('Tesla's AI5, AI6 and Dojo3 will add some good points to this graph'); TechCrunch reported the restart 2026-01-20. Marked reported because the restart rests only on Musk's posts. No Tesla filing mentions Dojo (0 hits in the Q2 and Q3 2026 10-Qs, checked by BSM; independently fact-checked, 0 in the Q1 2026 10-Q and 2025 10-K), and no Dojo spending is disclosed."
    },
    {
      "id": "services-revenue-q3-2026",
      "label": "Services and other revenue, Q3 2026",
      "value": 4605,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified",
      "note": "Up 33% y/y."
    },
    {
      "id": "services-gross-profit-q3-2026",
      "label": "Services and other gross profit, Q3 2026",
      "value": 734,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 Update, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm",
        "date": "2026-10-21"
      },
      "status": "verified",
      "note": "15.9% gross margin, a record per Tesla."
    },
    {
      "id": "charging-supercharger-stations",
      "label": "Supercharger stations",
      "value": 8904,
      "unit": "stations",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 Update, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm",
        "date": "2026-10-21"
      },
      "status": "verified",
      "note": "84,465 connectors; stations +15% y/y."
    },
    {
      "id": "batteries-4680-capacity",
      "label": "4680 cell installed annual capacity (Texas)",
      "value": ">40",
      "unit": "GWh per year",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 Update, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm",
        "date": "2026-10-21"
      },
      "status": "verified"
    },
    {
      "id": "batteries-lfp-capacity",
      "label": "LFP cell installed annual capacity (Nevada)",
      "value": 7,
      "unit": "GWh per year",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 Update, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm",
        "date": "2026-10-21"
      },
      "status": "verified",
      "note": "Update p. 7, Supporting Infrastructure, 'Battery Cell Manufacturing Annual Capacity' table: Nevada, LFP, 7 GWh, status 'Early Ramp'. Installed capacity is not a production rate. The 10-Q says Tesla shipped the first Megapack with LFP cells made at Gigafactory Nevada in Q3 2026."
    },
    {
      "id": "company-revenue-q3-2026",
      "label": "Total revenue, Q3 2026",
      "value": 28046,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified",
      "note": "Versus $28,095M in Q3 2025."
    },
    {
      "id": "company-operating-income-q3-2026",
      "label": "Income from operations, Q3 2026",
      "value": 718,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified",
      "note": "Versus $1,624M in Q3 2025 (−56%); Q3 2025 included $238M of restructuring charges. Q3 2026 includes about $447M of net IEEPA tariff refunds: see company-operating-income-ex-tariff-refund-q3-2026."
    },
    {
      "id": "company-rd-expense-q3-2026",
      "label": "R&D expense, Q3 2026",
      "value": 2761,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified",
      "note": "Up 69% y/y."
    },
    {
      "id": "company-free-cash-flow-q3-2026",
      "label": "Free cash flow, Q3 2026",
      "value": 1531,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 Update, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm",
        "date": "2026-10-21"
      },
      "status": "verified",
      "note": "Operating cash flow $6,263M less capex $4,732M."
    },
    {
      "id": "company-free-cash-flow-9m-2026",
      "label": "Free cash flow, first nine months of 2026",
      "value": 1883,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 Update, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm",
        "date": "2026-10-21"
      },
      "status": "bsm",
      "note": "BSM sum of Tesla-reported quarterly FCF: Q1 $1,444M + Q2 −$1,092M + Q3 $1,531M. Cross-check with the 10-Q cash-flow statement: operating cash flow $14,897M − purchases of property and equipment $13,014M = $1,883M. Only Q2 was negative."
    },
    {
      "id": "company-operating-cash-flow-9m-2026",
      "label": "Net cash provided by operating activities, first nine months of 2026",
      "value": 14897,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified",
      "note": "Versus $10,934M a year earlier. Covered nine-month purchases of property and equipment of $13,014M (cash-flow statement; MD&A rounds capex to $13.01B)."
    },
    {
      "id": "company-capex-funding-plan-2026",
      "label": "CFO on funding 2026 capex",
      "value": "primarily from operating cash flow; no draws planned on the new $30B facilities in 2026",
      "unit": "qualitative",
      "asOf": "2026-10-21",
      "source": {
        "name": "Tesla Q3 2026 earnings call (held 2026-10-21), Motley Fool transcript (published 2026-10-22)",
        "url": "https://www.fool.com/earnings/call-transcripts/2026/10/22/tesla-tsla-q3-2026-earnings-call-transcript/",
        "date": "2026-10-21"
      },
      "status": "reported",
      "note": "Taneja: capex guidance 'approximately $20 billion' and 'plan to fund it primarily from our cash flows from operations'; 'We don't plan to make any draws under any of the new facilities in this calendar year.' The 10-Q adds that heavier capex periods 'will necessitate additional funding beyond our operating cash flow.'"
    },
    {
      "id": "company-operating-margin-q3-2026",
      "label": "Operating margin, Q3 2026, reported and excluding net tariff refunds",
      "value": "2.6 reported; 1.0 ex-refund",
      "unit": "percent",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "bsm",
      "note": "718 / 28,046 = 2.6%; (718 − 447) / (28,046 + 339) = 0.95%, about 1.0%."
    },
    {
      "id": "company-ttm-gaap-net-income",
      "label": "GAAP net income to common, last four reported quarters (Q4 2025 to Q3 2026)",
      "value": 3218,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 Update, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm",
        "date": "2026-10-21"
      },
      "status": "bsm",
      "note": "BSM sum: $840M + $477M + $1,114M + $787M. Includes $655M of after-tax SpaceX equity gains (Q2 −$763M, Q3 +$108M in Tesla's reconciliation) and the Q3 tariff refund. Also includes a net after-tax Bitcoin loss of about $275M over the four quarters: losses of $239M (Q4 2025), $173M (Q1 2026) and $87M (Q2 2026), partly offset by a $224M after-tax gain in Q3 2026 (see stakes-bitcoin-unrealized-gain-q3-2026)."
    },
    {
      "id": "stakes-spacex-fair-value",
      "label": "Fair value of Tesla's SpaceX equity investment",
      "value": 2865,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified",
      "note": "Less than 1% ownership. Q3 mark-to-market −$142M; nine-month +$863M."
    },
    {
      "id": "stakes-spacex-mark-to-market-q3-2026",
      "label": "SpaceX equity investment mark-to-market, Q3 2026, pre-tax",
      "value": -142,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified",
      "note": "10-Q fair-value table footnote (1): 'For the three months and nine months ended September 30, 2026, we recorded a $142 million loss and $863 million gain, respectively, on our SpaceX equity investment.' Matches the Update p. 30 reconciliation (Q3 pre-tax 142; after tax 108)."
    },
    {
      "id": "stakes-bitcoin-unrealized-gain-q3-2026",
      "label": "Digital assets (Bitcoin) unrealized gain, Q3 2026, pre-tax",
      "value": 288,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 Update, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm",
        "date": "2026-10-21"
      },
      "status": "verified",
      "note": "Reconciliation of GAAP to non-GAAP (Update p. 30): digital assets unrealized (gain) loss $(288)M pre-tax, $(224)M net of tax, for Q3 2026. Corroborated by the Q3 10-Q: digital assets carried at $962M on 2026-09-30 vs $674M on 2026-06-30 (Q2 10-Q), and a nine-month unrealized loss of $46M vs a $334M first-half loss. Holdings mainly 11,509 bitcoin at $386M cost (10-Q). Published as 'about $290M'."
    },
    {
      "id": "governance-special-committee",
      "label": "Tesla Special Committee exploring deeper SpaceX relationship, possibly a business combination",
      "value": "formed",
      "unit": "status",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified",
      "note": "10-Q Part II Item 5. No terms disclosed. Bloomberg (via Electrek, 2026-11-12) reports an announcement could come as soon as December or slip to early 2027 (reported)."
    },
    {
      "id": "governance-annual-meeting-date",
      "label": "Tesla 2026 annual meeting date",
      "value": "2026-12-03",
      "unit": "date",
      "asOf": "2026-10-19",
      "source": {
        "name": "Tesla 2026 proxy statement (DEF 14A)",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000110465926116700/tm267596-1_def14a.htm",
        "date": "2026-10-19"
      },
      "status": "verified",
      "note": "Three Tesla proposals: elect three Class I directors, advisory say-on-pay, ratify PwC. No merger vote."
    },
    {
      "id": "auto-gross-margin-ex-tariff-refund-q3-2026",
      "label": "Total automotive gross margin excluding the $260M IEEPA tariff refund, Q3 2026",
      "value": 17.2,
      "unit": "percent",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "bsm",
      "note": "(20,560 − 16,754 − 260) / 20,560. Reported 18.5%; Q3 2025 17.0%."
    },
    {
      "id": "energy-storage-gross-margin-ex-tariff-refund-q3-2026",
      "label": "Energy generation and storage gross margin excluding tariff refunds, Q3 2026",
      "value": 23.8,
      "unit": "percent",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "bsm",
      "note": "Revenue 2,881 + 339 = 3,220; cost 1,927 + 526 = 2,453; margin 23.8%. Excludes only the IEEPA items, not the supplier warranty true-down the CFO also cited."
    },
    {
      "id": "energy-storage-tariff-refund-cost-q3-2026",
      "label": "IEEPA tariff refund recognized as a reduction to energy cost of revenue, Q3 2026",
      "value": 526,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified",
      "note": "First-half 2026 amounts were immaterial."
    },
    {
      "id": "auto-tariff-refund-cost-q3-2026",
      "label": "IEEPA tariff refund recognized as a reduction to automotive cost of sales, Q3 2026",
      "value": 260,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified"
    },
    {
      "id": "energy-storage-customer-tariff-refunds-q3-2026",
      "label": "Tariff refunds owed to storage customers, recognized as a reduction to energy revenue, Q3 2026",
      "value": 339,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified"
    },
    {
      "id": "company-net-tariff-refund-benefit-q3-2026",
      "label": "Net pre-tax benefit from IEEPA tariff refunds, Q3 2026",
      "value": 447,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "bsm",
      "note": "526 + 260 − 339."
    },
    {
      "id": "company-operating-income-ex-tariff-refund-q3-2026",
      "label": "Income from operations excluding net tariff refunds, Q3 2026",
      "value": 271,
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "bsm",
      "note": "718 − 447. About 1.0% operating margin on ex-refund revenue of $28,385M."
    },
    {
      "id": "company-gross-margin-ex-tariff-refund-q3-2026",
      "label": "Total gross margin excluding net tariff refunds, Q3 2026",
      "value": 17.8,
      "unit": "percent",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "bsm",
      "note": "(5,494 − 447) / (28,046 + 339). Reported 19.6%."
    },
    {
      "id": "company-effective-tax-rate-q3-2026",
      "label": "Effective tax rate, Q3 2026",
      "value": 15.9,
      "unit": "percent",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "bsm",
      "note": "Provision $152M / pre-tax income $956M; Q3 2025: $570M / $1,959M = 29.1%."
    },
    {
      "id": "company-free-cash-flow-q2-2026",
      "label": "Free cash flow, Q2 2026",
      "value": -1092,
      "unit": "USD millions",
      "asOf": "2026-06-30",
      "source": {
        "name": "Tesla Q3 2026 Update, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm",
        "date": "2026-10-21"
      },
      "status": "verified"
    },
    {
      "id": "company-share-price-close-2026-11-12",
      "label": "TSLA closing price, 2026-11-12",
      "value": 397.45,
      "unit": "USD",
      "asOf": "2026-11-12",
      "source": {
        "name": "Nasdaq TSLA historical prices",
        "url": "https://www.nasdaq.com/market-activity/stocks/tsla/historical",
        "date": "2026-11-12"
      },
      "status": "verified",
      "note": "Confirmed on Nasdaq historical data; Yahoo Finance shows the same close."
    },
    {
      "id": "company-ttm-diluted-gaap-eps",
      "label": "Diluted GAAP EPS, last four reported quarters (Q4 2025 to Q3 2026)",
      "value": 0.91,
      "unit": "USD per share",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 Update, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm",
        "date": "2026-10-21"
      },
      "status": "bsm",
      "note": "Sum of reported quarterly diluted EPS: 0.24 + 0.13 + 0.32 + 0.22."
    },
    {
      "id": "company-ttm-non-gaap-eps",
      "label": "Non-GAAP diluted EPS, last four reported quarters",
      "value": 1.72,
      "unit": "USD per share",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 Update, 8-K Exhibit 99.1",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066738/exhibit9914.htm",
        "date": "2026-10-21"
      },
      "status": "bsm",
      "note": "0.50 + 0.41 + 0.33 + 0.48."
    },
    {
      "id": "company-pe-ttm-gaap",
      "label": "Trailing P/E, GAAP (price / TTM diluted GAAP EPS)",
      "value": 437,
      "unit": "x",
      "asOf": "2026-11-12",
      "source": {
        "name": "Nasdaq TSLA historical prices",
        "url": "https://www.nasdaq.com/market-activity/stocks/tsla/historical",
        "date": "2026-11-12"
      },
      "status": "bsm",
      "note": "$397.45 / $0.91 = 436.8x; published as 'about 437x'. Method: share price over the sum of the last four quarters' diluted GAAP EPS."
    },
    {
      "id": "company-pe-ttm-non-gaap",
      "label": "Trailing P/E, non-GAAP (price / TTM non-GAAP EPS)",
      "value": 231,
      "unit": "x",
      "asOf": "2026-11-12",
      "source": {
        "name": "Nasdaq TSLA historical prices",
        "url": "https://www.nasdaq.com/market-activity/stocks/tsla/historical",
        "date": "2026-11-12"
      },
      "status": "bsm",
      "note": "$397.45 / $1.72."
    },
    {
      "id": "company-pe-ttm-ex-spacex-and-refund",
      "label": "Trailing P/E excluding after-tax SpaceX gains and the Q3 tariff refund (illustrative)",
      "value": 643,
      "unit": "x",
      "asOf": "2026-11-12",
      "source": {
        "name": "Nasdaq TSLA historical prices",
        "url": "https://www.nasdaq.com/market-activity/stocks/tsla/historical",
        "date": "2026-11-12"
      },
      "status": "bsm",
      "note": "TTM GAAP NI $3,218M − $655M SpaceX gains (after tax, Tesla reconciliation) − ~$376M refund (after tax at Q3's 15.9% rate) = ~$2,187M; / 3,540M diluted shares = ~$0.618; $397.45 / $0.618 ≈ 643x; published as 'about 643x'. Rough. Not adjusted for Bitcoin: removing the ~$275M net after-tax TTM Bitcoin loss would lower it. Illustrative BSM calculation. Sensitivity: taxing the refund at 21% instead of 15.9% gives ~$2,210M and ~637x. Also not adjusted for the net $230M 'certain tax items' benefit in the TTM (Q2 −$274M, Q3 +$44M)."
    },
    {
      "id": "company-ceo-award-unrecognized-sbc",
      "label": "Unrecognized stock-based compensation for 2025 CEO award operational milestones not considered probable",
      "value": "105,820–120,370",
      "unit": "USD millions",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified",
      "note": "Non-cash GAAP expense that would be recognized if milestones become probable. Separately, $9.74B unrecognized for the one operational milestone Tesla deems probable (not named in the 10-Q)."
    },
    {
      "id": "ai-compute-si-hardware-acquisition-q2-2026",
      "label": "SI hardware company acquired in Q2 2026 (asset acquisition), paid in Tesla stock and equity awards",
      "value": 1950,
      "unit": "USD millions",
      "asOf": "2026-06-30",
      "source": {
        "name": "Tesla Form 10-Q, Q3 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000162828026066775/tsla-20260930.htm",
        "date": "2026-10-22"
      },
      "status": "verified",
      "note": "$1.73B subject to service and/or performance conditions; $222M allocated to an intangible asset. Target not named in the 10-Q."
    },
    {
      "id": "ai-compute-terafab-phase-one-capex",
      "label": "Terafab initial phase estimated capital investment, from SpaceX and Tesla combined",
      "value": 16800,
      "unit": "USD millions",
      "asOf": "2026-08-06",
      "source": {
        "name": "SpaceX Updates, 'Breaking Ground on Terafab in Texas'",
        "url": "https://www.spacex.com/updates/terafab",
        "date": "2026-08-06"
      },
      "status": "verified",
      "note": "SpaceX's estimate in its 2026-08-06 post; Tesla/SpaceX split not disclosed. The '$100B Terafab' wording is from SpaceX's 2026-11-12 post on the same page. Terafab is not mentioned in Tesla's Q3 2026 10-Q."
    },
    {
      "id": "robotaxi-nhtsa-dp26010",
      "label": "NHTSA defect petition DP26010: school-zone speeding allegation, MY2026 Robotaxi (Model Y and Cybercab)",
      "value": "open",
      "unit": "status",
      "asOf": "2026-10-09",
      "source": {
        "name": "NHTSA defect petition DP26010 resume",
        "url": "https://static.nhtsa.gov/odi/inv/2026/INOA-DP26010-19159.pdf",
        "date": "2026-10-09"
      },
      "status": "verified",
      "note": "Petition received 2026-09-23; 4 incidents, 0 crashes; population ~1,000. NHTSA to grant or deny."
    },
    {
      "id": "fsd-nhtsa-ea26002",
      "label": "NHTSA engineering analysis EA26002: FSD in reduced roadway visibility",
      "value": 3203754,
      "unit": "vehicles",
      "asOf": "2026-03-18",
      "source": {
        "name": "NHTSA engineering analysis EA26002 resume",
        "url": "https://static.nhtsa.gov/odi/inv/2026/INOA-EA26002-10023.pdf",
        "date": "2026-03-18"
      },
      "status": "verified",
      "note": "Opened 2026-03-18 (from PE24031); 9 crashes, 1 fatality in the file. No closing resume found as of 2026-11-13."
    },
    {
      "id": "fsd-subscription-share",
      "label": "Share of FSD paid customers on subscriptions",
      "value": 50,
      "unit": "percent",
      "asOf": "2026-09-30",
      "source": {
        "name": "Tesla Q3 2026 earnings call (held 2026-10-21), Motley Fool transcript (published 2026-10-22)",
        "url": "https://www.fool.com/earnings/call-transcripts/2026/10/22/tesla-tsla-q3-2026-earnings-call-transcript/",
        "date": "2026-10-21"
      },
      "status": "reported",
      "note": "CFO on Q3 call: 'for the first time, 50% is based on subscriptions.'"
    },
    {
      "id": "governance-ehrenpreis-spacex-board",
      "label": "Ira Ehrenpreis, Tesla Compensation and Nominating & Governance chair, on SpaceX board since",
      "value": "2026-02",
      "unit": "year-month",
      "asOf": "2026-10-19",
      "source": {
        "name": "Tesla 2026 proxy statement (DEF 14A)",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000110465926116700/tm267596-1_def14a.htm",
        "date": "2026-10-19"
      },
      "status": "verified",
      "note": "Proxy: 'has served on the board of directors of SpaceX since February 2026.' Special Committee membership not disclosed."
    },
    {
      "id": "governance-xai-megapack-revenue-2025",
      "label": "Tesla revenue from xAI in 2025, primarily Megapack sales",
      "value": 430.1,
      "unit": "USD millions",
      "asOf": "2025-12-31",
      "source": {
        "name": "Tesla 2026 proxy statement (DEF 14A)",
        "url": "https://www.sec.gov/Archives/edgar/data/1318605/000110465926116700/tm267596-1_def14a.htm",
        "date": "2026-10-19"
      },
      "status": "verified",
      "note": "Plus about $78.1M through February 2026. xAI became a SpaceX subsidiary on 2026-02-02."
    }
  ],
  "disclaimer": "This material is for education and entertainment only. It is not financial advice. Opinions are our own and should be verified independently. Mentioning others' views is not an endorsement. The author holds long-term positions in Tesla, SpaceX and Bitcoin.",
  "contributors": [
    "BSM Tesla desk"
  ]
}