Investors are divided on Tesla’s future direction, with some emphasizing its position as an electric vehicle (EV) leader while others see it as an artificial intelligence (AI) frontrunner. Cathie Wood, the founder of Ark Invest, firmly believes in Tesla’s potential as an AI leader. Wood’s bullish stance on Tesla is well-known, as she considers it the “biggest AI play out there,” projecting potential revenue of up to $10 trillion by 2030 through an autonomous taxi business that is yet to materialize.
In line with Wood’s vision, Tesla has made significant strides in expanding its compute capacity. The company aims to achieve 100 exaflops by 2024, which is a twentyfold increase from its previous projection in September. To achieve this, Tesla plans to scale its capacity from 14,000 Nvidia A100 chips to an equivalent of 300,000 of the same chips. This ambitious endeavor positions Tesla as a potential contender to become one of the world’s largest AI training companies.
Ark Invest’s confidence in Tesla’s AI potential is reflected in its substantial stock ownership. The Ark Innovation ETF alone holds over 3.5 million Tesla shares valued at more than $860 million. Wood’s conviction stems from her belief that autonomous vehicles, powered by AI, will revolutionize the transportation industry and drive explosive growth.
As the debate continues between Tesla’s EV leadership and its potential as an AI powerhouse, Cathie Wood remains steadfast in her conviction that Tesla’s future lies in AI. With Tesla’s relentless pursuit of technological advancements and its ambitious plans for AI-driven growth, the company’s trajectory is poised to reshape industries and capture the imagination of investors worldwide.
#tesla #cathiewood #TesaAI
This is Armen Hareyan from Torque News. Please follow us at https://twitter.com/torquenewsauto on Twitter and https://www.torquenews.com/ for daily automotive news.
Reference
The Street https://www.thestreet.com/technology/heres-why-cathie-wood-bets-so-much-on-tesla
Torque News https://www.torquenews.com/1/cathie-wood-bets-big-teslas-ai-future/
