EV + energy-storage + robotics/autonomy + the in-house AI inference silicon (AI5/AI6) — an AI-applied-to-physical-world conglomerate
AI exposure 8% — derived from reported segment revenue, not asserted.
AI Platforms → Consumer AI & Device Platforms · figures rebased to Q2 2026, reported 2026-07-22
Vehicles are 72.7% of revenue and services and other a further 16.2%, both Consumer AI & Device Platforms — Tesla sells a consumer device with autonomy software on it, and FSD revenue is recognised inside automotive sales rather than reported separately. Energy generation and storage at 11.1% is tagged in Renewable Energy. The Robotics & Autonomous Systems tag has been removed: its feeder was a 3% line the Atlas itself labelled pre-revenue, and placement rule 3 says pre-revenue moonshots are not businesses — the same reading that removed Cameco's SMR tag. Rebased 2026-09.
Also tagged: emerging in Energy Supply & Critical Minerals → Renewable Energy.
Rebased to the Q2 2026 10-Q (quarter ended June 30, 2026, $28,236M): automotive $20,516M = 72.7%, energy generation and storage $3,139M = 11.1%, services and other $4,581M = 16.2% — the Atlas had 73/13/13, understating services by three points. The 3% "Autonomy / Robotics (Optimus) — pre-revenue" line inside Automotive has been removed: placement rule 3 says "every classification tag must have a visible feeder business" and "pre-revenue R&D and moonshots are not businesses for this purpose", which is what that line was. Tesla does not disclose FSD revenue at all — it sits inside automotive…
Moat. EV manufacturing scale, brand, the Supercharger network, and the FSD fleet-data advantage off a 7M+ vehicle base with ~1.28M paid FSD customers — plus the Optimus option. Dojo is no longer part of the story: Tesla disbanded the Dojo team in August 2025 and consolidated on in-house AI5/AI6 inference silicon, with AI6 contracted to Samsung.
Bottleneck / pricing power. Pricing power is thin and thinning: Q2 2026 GAAP gross margin 16.8% and a 1.4% operating margin, with regulatory credits — formerly a ~$2.76B/yr near-pure-profit stream — down 67% to $146M. Energy is following the same path: 13.5 GWh deployed (+40% YoY) produced only +13% revenue, roughly 20% ASP compression. What pricing power exists sits in FSD software, on a small revenue base.
Role in the AI stack. The physical-AI layer (autonomy + robotics + energy + EV).
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