Tesla Inc. (NASDAQ: TSLA | TSLA Price Prediction) has a market cap of $800 billion. That could rise to $1.3 trillion if its new supercomputer product is successful. This would put its stock market value at the same level as Amazon’s. (These are America’s most hated companies.)
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According to Reuters: “Tesla’s Dojo supercomputer could power a near $600 billion jump in the automaker’s market value by boosting the adoption of robotaxis and its software services, Morgan Stanley analysts said.”
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Tesla’s stock already has benefited from the news. Electrek reports: “The new factoring-in of Dojo has resulted in Morgan Stanley raising its price target on Tesla’s stock price from $250 to $400, which is a massive change for large firm like Morgan Stanley.”
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Barron’s reports that Tesla’s increase in market cap is due to the fact that Tesla has become an AI stock and will see a surge because AI stocks carry such a huge premium.
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Street Insider points out that the Morgan Stanley call is more than just a price target: “The Wall Street brokerage upgraded its recommendation on Tesla’s stock to ‘Overweight’ from ‘Equal-weight’ and made it their ‘top pick,’ replacing Ferrari’s U.S.-listed shares.”
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