Story perspectives

Tesla, Alphabet Shares Dive, S&P Drops 1.5%

7/23/2026

Summary

Tesla, Alphabet Slide

Tesla shares fell more than 14% to $320.52 after Q2 2026 earnings showed $1.09 billion negative free cash flow, while the company reported $28.2 billion revenue.
Alphabet shares fell over 7% to $317.45 after raising its 2026 capex outlook to $205 billion, as the firm posted Q2 revenue above $119 billion.
The sell-offs dragged the S&P 500 down 1.52%, the Nasdaq down 2.78%, and the Dow down 621 points.

Summary

Tesla Expands Robotaxi

Tesla expanded its robotaxi service to Orlando and Tampa, joining Austin, Dallas, Houston and Miami.
Full Self-Driving subscriptions rose 56% year-over-year to 1.48 million.
Tesla secured regulatory approval for Full Self-Driving in the Netherlands while pursuing clearance in China.
Tesla recorded a $112 million impairment on its 11,509 Bitcoin holdings.
Tesla will seek debt facilities that could allow borrowing of up to $30 billion for capital-intensive projects.

History

Historical Context

In August 2016 Uber began testing self-driving cars in Pittsburgh, the first major ride-hail pilot after Google’s project became Waymo that year and logged two million autonomous miles by December 2016. Building on that early test, Uber announced in March 2026 a $1.25 billion investment with Rivian to deploy up to 50,000 robotaxis through 2031, echoing the decade-long push toward commercial autonomous fleets.

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Tesla, Alphabet Slide

Tesla shares fell more than 14% to $320.52 after Q2 2026 earnings showed $1.09 billion negative free cash flow, while the company reported $28.2 billion revenue.
Alphabet shares fell over 7% to $317.45 after raising its 2026 capex outlook to $205 billion, as the firm posted Q2 revenue above $119 billion.
The sell-offs dragged the S&P 500 down 1.52%, the Nasdaq down 2.78%, and the Dow down 621 points.

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