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Tesla CEO Elon Musk made it absolutely clear on today’s Tesla conference call: if you don’t believe in Tesla’s AI work and robotaxi plans, you shouldn’t be invested in Tesla stock (NASDAQ:TSLA). The company is not fundamentally a car company, as he noted. It’s fundamentally an AI company.
I think that’s already clear based on the company’s market cap. Many analysts have argued for years that they don’t take robotaxi potential into account, that it’s really about the nuts and bolts of making money on selling cars, trucks, batteries, and solar panels. However, if you are assuming that’s the case, this disparity in market cap makes no sense:
I guess it’s possible that you could assume Tesla will make 10 times as many cars — or 10 times as much profit on cars and…
Read the full article originally published at cleantechnica.com.