ICYMI Tesla’s AI dreams may already be priced into stock
After an 82-per-cent year-to-date rally, Tesla shares trade at about 61 times forward earnings, compared with the mid-to-high single-digit multiples of auto stalwarts General Motors Co. and Ford Motor Co. Even current AI darling Nvidia Corp. trades at only 42 times.— that the company’s value was almost fully dependent on cracking the code for self-driving. “That really is the difference between Tesla being worth a lot of money and being worth basically zero,” Musk said in June 2022.
Tesla already offers a driver-assistance technology that it calls Full Self-Driving, even though a truly self-driving car has remained elusive for the industry. Ford and Volkswagen AG’s Argo AI shut down last year, while the initial excitement around Alphabet Inc.’s Waymo and GM’s Cruise have sputtered as well.
“Autonomous taxi platforms globally will deliver by 2030 US$8 trillion to US$10 trillion in revenue, from almost zero right now,” ARK’s Wood told Bloomberg TV last week.
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Tesla’s AI dreams may already be priced into stockFew are on the same page as Cathie Wood when it comes to Tesla Inc. and artificial intelligence. Find out more.
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Tesla’s AI dreams may already be priced into stockFew are on the same page as Cathie Wood when it comes to Tesla Inc. and artificial intelligence. Find out more.
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