Tesla Remains in 'Build Mode' With Heavy Capex as Core Strategy, Analyst Confirms Amid Earnings Call

TSLA-15.40%
According to Haris Khurshid, Chief Investment Officer at Karobaar Capital, Tesla remains in "build mode" at the earnings call, with capital expenditure as a core long-term strategy. Khurshid noted that CEO Elon Musk devoted most of the call to explaining capital allocation logic rather than defending quarterly performance, signaling that the heaviest capex cycles could persist for years ahead. The key debate among investors has shifted from whether Tesla spent too much this quarter to whether its infrastructure buildout is "ahead of demand" or "ahead of reality."
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