Tesla could receive a $500 billion boost to its stock market value because its supercomputer can power artificial intelligence for driverless cars, analysts have suggested.
The share price of Elon Musk’s carmaking company jumped by a tenth after the prediction from Morgan Stanley, the Wall Street bank, which dubbed the business both an automotive and a technology company.
Dojo is a computer that trains driving systems for autonomous vehicles. It analyses information from vast databases gathered by cameras and sensors on millions of vehicles. Tesla predicts that Dojo, which went into production in July, will become one of the world’s most powerful computer systems by February 2024. In its latest earnings call, Musk estimated that Tesla would spend more than $1 billion on it
© Times Media Limited 2023.
Registered in England No. 894646. Registered office: 1 London Bridge Street, SE1 9GF.