Tesla’s stock surged by 6% on Monday, propelled by the promising potential of its cutting-edge Dojo supercomputer. This remarkable piece of technology could pave the way for an astounding $600 billion boost in the market value of the electric car giant. The catalyst behind this surge is the Dojo supercomputer’s capability to expedite Tesla’s journey into the realms of robotaxis and software services.
As the world’s leading automaker in terms of valuation, Tesla has been vigorously developing its supercomputer, which commenced operations in July. With an ambitious investment plan of over $1 billion allocated to Dojo over the next year, Tesla’s commitment to innovation knows no bounds.
The Wall Street brokerage has not only upgraded Tesla’s stock rating from “equal-weight” to “overweight” but has also replaced Ferrari’s U.S.-listed shares with Tesla as the “top pick.”
The enthusiasm doesn’t end there; Morgan Stanley has boosted its 12-18 month price target for Tesla shares by a staggering 60%, now aiming for $400.
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Morgan Stanley has correspondingly revised its revenue estimate for Tesla’s network services business, projecting it to reach $335 billion by 2040, a remarkable increase from the previous estimate of $157 billion.
In conclusion, Tesla’s recent surge in stock value, driven by the promise of the Dojo supercomputer, is a testament to the company’s unwavering commitment to innovation and its vision of revolutionizing the automotive industry. As Tesla’s journey into the future continues, all eyes are on Dojo to drive its growth and secure its position as an industry leader.
