Tesla Surges on AI, FCF as Rivian Posts Q1 Gross Losses

Tesla continues to dominate EV peers, surging on Q1 FY2026 results with $22.39B revenue, 21.1% automotive gross margin, $1.444B free cash flow, and 1.28M FSD subscribers (up 51% YoY), bolstering its $44.7B cash position for AI and robotaxi investments. This follows a May 11 comparison highlighting Tesla's $22.4B revenue and 2% net margin versus Lucid's $282.5M and -364% margin, underscoring Tesla's scale. Rivian lagged with $1.381B revenue, $62M automotive gross loss, and low deliveries, reinforcing Tesla as the low-risk AI leader amid peers' struggles.