"Tesla Inc.'s ( NASDAQ: TSLA) market cap has hit $1.1 trillion after a sharp share price rebound from March, when Elon Musk's relationship with President Trump fell apart. This makes it the 10th most valuable company in the world. This is more than all the other major automakers in the world combined. Toyota, the world's largest car company by global sales, is second on the list with a market cap of $227 billion."
"Musk's pitch now is that Tesla is an artificial intelligence and robotics company, and it should be valued as such. Some proof of this, he says, is the Optimus robot. Tesla designed it to do many mundane human tasks. In the future, it will take on more complex tasks, including driving a Tesla. Now, it is not even out of early tests."
"It will be able to transport large numbers of people without a driver. Eventually, it will take the place of cabs and buses. It is also in early stages. By the end of the year, it is likely to be in fewer than five cities. The same technology will allow Teslas to be completely self-driving. There is no evidence that will happen soon."
Tesla's market cap reached $1.1 trillion after a sharp share price rebound from March, making it the 10th most valuable company in the world. The valuation exceeds the combined market caps of other major automakers, with Toyota at $227 billion, BYD at $112 billion, GM at $65 billion, and Ford at $44 billion. Investor enthusiasm centers on Elon Musk's vision of Tesla as an artificial intelligence and robotics company. Musk highlights the Optimus robot and a planned robotaxi as evidence, but both initiatives remain in early stages. Regulatory approvals and technical challenges make widespread autonomous deployment uncertain, casting doubt on a $1 trillion justification.
Read at 24/7 Wall St.
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