Tesla bull Gene Munster sees 2027 capex hitting $25B — $4B above Wall Street
Noted Tesla bull Gene Munster (Deepwater) now expects 2027 capital expenditure of $25B, about $4B above Wall Street's $21B consensus — spending aimed at scaling TeraFab, solar, Optimus, Cybercab and Semi, with investor reaction to the bigger outlay the key swing factor.
As Tesla shares continue a recent slide, one of the stock's best-known bulls has weighed in with a fresh capital-spending forecast for next year.
Gene Munster of Deepwater Asset Management (Loup Ventures) now projects Tesla's 2027 capital expenditure at $25 billion, roughly $4 billion — or about 19% — above the Wall Street consensus of $21 billion. The forecast follows Tesla's second-quarter earnings call and centers on where that extra spending is headed.
Munster said the increased outlay will go toward scaling TeraFab (the company's 4680 battery cell plant), solar manufacturing, Optimus, Cybercab and Semi — all pillars of Tesla's AI and robotics ambitions.
"Overall, I expect good news, just don't know how investors will take greater capex for CY27," Munster wrote, flagging that the bigger spending plan could unsettle investors focused on near-term margins and free cash flow even as it supports Tesla's longer-term growth story.
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