Management remarks
Call period: 2026 Q2 · 2026-08-04
Guidance: Bret Johnsen: We expect to end this year at over 2 gigawatts of compute capacity.Demand and orders: Gwynne Shotwell: This reflects our best quarter of new customers to date, an increase from the 1.4 million we added during the first quarter.Margins: Bret Johnsen: Income from operations from the Connectivity segment increased 79% year-over-year to $1.7 billion, outpacing revenue growth and driving nearly 3 points of operating margin expansion.Analyst Q&A
Analyst Adam Jonas asked: Elon, first one for you. Just confirming, you said you expect to be closer to 10 gigawatts of nameplate compute by end of '27, closer to 10 than 5. Do you have line of sight? Management Elon Musk answered: So we're actually aiming to far exceed that gigawatt number in terms of power online, power cooling and electrical equipment. So our tentative target is to actually have 20 gigawatts at the power and cooling level online by the end of next year. Now I don't think we're going to achieve 20 gigawatts, but we want to have a series of projects that cumulatively come to 20 gigawatts by the end of next year. Some of them won't pan out exactly on time, but I would expect that we still probably have at the power plant level, something close to 15 gigawatts.管理层陈述
电话会期间：2026 Q2 · 2026-08-04
指引：布雷特·约翰森：我们预计今年年底的计算能力将超过2吉瓦。需求与订单：格温·肖特韦尔：这是我们迄今为止新增客户最多的一个季度，较第一季度新增的140万客户有所增长。利润率：布雷特·约翰森：互联业务板块的运营收入同比增长79%，至17亿美元，增速超过收入增速，推动运营利润率扩大近3个百分点。分析师问答
分析师亚当·乔纳斯向埃隆·马斯克提问：首先确认，你此前表示预计到2027年底装机计算容量将接近10吉瓦，更接近10而非5，请问你是否有明确的实现路径？埃隆·马斯克回应称，我们实际目标是在在线电力、冷却及电气设备方面远超该吉瓦数，暂定目标为明年年底在线电力与冷却层面达到20吉瓦。我认为我们无法实现20吉瓦，但希望到明年年底累计项目总计达20吉瓦，部分项目可能无法按时完成，但预计电厂层面仍将拥有接近15吉瓦的容量。This earnings-call research was prepared from company results, regulatory filings, financial statements, and earnings-call transcripts or official replays. It is for informational purposes only and does not constitute investment advice.这篇财报电话会研究基于公司公告、监管文件、财务报表，以及真实电话会文字稿或官方回放整理。内容仅供参考，不构成投资建议。
