Tesla
TSLAQ2 2025(TSLA Q1 FY2025)Derived1.8% AI
AI Revenue %
1.8%
AI Fair Value
$20.8B
AI Revenue (Q)
$383.4M
Total Revenue (Q)
$21.3B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
For Q1 FY2025 (3 months ended Mar 31, 2025), total revenue was $19,335M (down YoY due to Model Y changeover). Total deferred revenue was $6,853M ($3,243M current + $3,610M non-current). FSD-specific deferred was $3.60B as of Mar 31, 2025. Revenue recognized from Dec 2024 deferred balance would be higher than the $281M from Dec 2023 balance, given the larger base. Estimating ~$350M of FSD-related recognized revenue. $350M / $19,335M = 1.81%, rounded to 1.8%. The higher percentage reflects the lower total revenue base (Model Y changeover) rather than a surge in FSD revenue. Cybercab construction underway at Gigafactory Texas.
Analyzed by claude-opus-4-6
Quoted Figures
Total revenues $19,335M for three months ended March 31, 2025
10-Q Consolidated Statements of Operations
Deferred revenue current $3,243M + non-current $3,610M = $6,853M as of March 31, 2025
Balance Sheet
Deferred revenue current $3,243M + non-current $3,610M = $6,853M as of March 31, 2025
10-Q Consolidated Balance Sheet
AI Products Identified (Ring 1)
Full Self-Driving (FSD) SupervisedAutopilot
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Dojo/Cortex AI training cluster (internal)Optimus robot (pre-revenue)Cybercab/Robotaxi (construction phase)
Confidence Tier
DerivedCalculated from reported segments primarily serving AI