Tesla stock fell 18% in a single week after July 22 earnings, its worst one-week performance since 2022, as investors reacted to Elon Musk's robotaxi and AI spending plans. Despite Tesla reporting strong revenue and posting more than $100 billion in trailing-12-month sales for the first time, the company's operating margins fell from 4.1% a year ago to just 1.4% in the second quarter of this year. Operating expenses jumped 47%, to $4.35 billion. Tesla reported negative free cash flow of $1.1 billion in the quarter, and its cash and investments dropped by $1.2 billion. Capital expenditures more than doubled sequentially, and the company expects them to continue increasing in the second half of the year. Tesla issued guidance for $25 billion in capex spending for the year and announced plans to borrow up to $30 billion. According to the Bloomberg Billionaires Index, Musk's net worth is now $709 billion, and he acknowledged the loss in a social media post on X, writing, "(Former) Trillionaire."