#TeslaOptimus #ElonMusk #MarketCap25Trillion
Elon Musk Envisions Tesla's Optimus Robots Propelling the Company to a $25 Trillion Market Cap
At Tesla's 2024 annual shareholder meeting, CEO Elon Musk unveiled a bold vision for the company's future, where humanoid robots, specifically the Optimus model, could catapult Tesla's market capitalization to an unprecedented $25 trillion. This ambitious goal would make Tesla worth more than half the value of the S&P 500, which currently stands at $45.5 trillion.
Musk, known for his optimism, described the potential of Optimus robots to perform a wide range of tasks, including cooking, cleaning, factory work, and even teaching children. He believes these robots could be the catalyst for Tesla's market cap reaching $25 trillion. The company plans to initiate "limited production" of Optimus in 2025 and test the humanoid robots in its factories the following year, with a goal of having over 1,000 Optimus robots working at Tesla by 2025.
Despite Musk's track record of making ambitious promises that have not always materialized, long-time Tesla bull Cathie Wood, CEO of ARK Invest, shares his optimism. ARK recently put a $2,600 price target on Tesla's stock by 2029, based on the potential commercial robotaxi business Tesla has yet to enter. This price target equates to a market cap of over $8 trillion for Tesla.
Tesla's shares have experienced a 27% decline in 2023 due to a sales decline attributed to an aging lineup of electric vehicles and increased competition in China. However, Musk urged investors to focus on the future potential of autonomous driving, robots, and artificial intelligence rather than the current state of the business.
Musk also made the bold claim that Tesla had surpassed Nvidia in inference capabilities, a process used by machine learning models to draw conclusions from new data. Nvidia's shares have surged almost nine-fold since the end of 2022, driven by demand for its AI chips, and the company is now worth about $3.2 trillion.
Original Article: https://www.cnbc.com/2024/06/13/elon-musk-says-optimus-robots-could-make-tesla-25-trillion-company-.html
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