Tesla shares rose by about 10% during trading on Monday, after experts from the US investment bank Morgan Stanley expected that the market value of the American electric car maker would rise, thanks to its development of the Dojo supercomputer, in light of the rapid spread of self-driving taxis and network services.
Analyst Adam Jonas said in a report that Computer Dojo could open new markets for Tesla, as cloud computing service Amson Web Services (AWS) did for e-commerce giant Amazon.
Analysts also raised the target price for Tesla shares from $250 to $400 within a year, and the company’s share price has more than doubled since the beginning of this year, while it rose during morning trading by approximately 7%, and the stock is heading towards adding about $52 billion to the market value. For the company,
Morgan Stanley is considered one of the advisory institutions for American billionaire Elon Musk, owner of Tesla, and the bank contributed to the advisory work for the acquisition of the social media platform Twitter for $44 billion before changing its name to X.
It is noteworthy that the Dojo supercomputer was designed to process huge amounts of data to train smart driving systems in cars, which gives Tesla a unique advantage in a market whose value may reach 10 trillion dollars, according to Jonas, which could make the software and services sector the largest contributor to Tesla’s value. after.
Jonas said that Tesla is expected to launch a full self-driving system for cars by the end of this year, adding that the company's Artificial Intelligence Day conference in 2024 will be an event worth following.
It is noteworthy that Tesla has not officially announced the Artificial Intelligence Day conference for next year yet.
