Tesla Stages $80 Billion Rally, Passing Berkshire Hathaway to Become the Seventh-Most Valuable Company in the World

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Tesla Stages $80 Billion Rally, Passing Berkshire Hathaway to Become the Seventh-Most Valuable Company in the World

Forbes2023-09-12

TOPLINETesla rallied to its highest share price in more than a month Monday, riding an upgrade from Morgan Stanley touting a non-vehicle revenue stream which could justify a more than $1 trillion ...

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Et1502
·2023-09-12
$TSLA$ has always been one of my favourite shares no matter what others have given the negative comment.
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That’s how much market cap Tesla gained Monday, passing Berkshire Hathaway to become the seventh-most valuable company in the world.CRUCIAL QUOTE“Dojo may have the capability to be the core of the ‘Muskonomy,’” Jonas wrote, predicting the machine learning technology could become core to Tesla CEO Musk’s social media company X and aeronautics and communications firm SpaceX as well.KEY BACKGROUNDMusk told investors in July that Tesla will spend “well over” $1 billion on developing Dojo over the next year. “With Dojo, [Tesla] believes it will be able to have a supercomputer specifically designed for its image and video processing needs,” Deutsche Bank analysts led by Emmanuel Rosner wrote in a note to clients last week. Tesla shares are up more than 100% year-to-date, placing the stock among the top returners on the S&P 500 in 2023. Still, Tesla is down roughly 35% from its pandemic peak. Jonas had an apparent change of heart about Tesla’s AI prospects, warning investors in June that “autonomous driving and generative AI still remain, in our view, two very different technological disciplines.” AI-exposed stocks have captained the broader market’s gains this year, led by Nvidia’s more than 200% gain which has sent the graphics processing unit maker’s market cap to over $1 trillion.CHIEF CRITICDojo is the “primary place where Tesla stands to benefit from the recent advances in AI,” but generating any revenue from selling the service to outside firms is likely a “considerably long-dated opportunity,” Barclays analysts led by Dan Levy wrote in June.FORBES VALUATIONMusk, Tesla’s largest individual shareholder, is worth $261 billion, according to Forbes’ calculations. He’s by far the richest person in the world, worth more than $60 billion more than the next-richest man, LVMH chairman Bernard Arnault. Musk grew nearly $19 billion richer Monday alone.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":219182585237528,"gmtCreate":1694514741802,"gmtModify":1694514746177,"author":{"id":"3566089803841994","authorId":"3566089803841994","name":"Et1502","avatar":"https://static.tigerbbs.com/593ec0056928c16af9027b7137674d79","vip":1,"crmLevel":9,"crmLevelSwitch":0,"idStr":"3566089803841994","authorIdStr":"3566089803841994"},"htmlText":"$TSLA$ has always&nbsp;been one of&nbsp;my favourite shares no matter what others have given the negative comment.","listText":"$TSLA$ has always&nbsp;been one of&nbsp;my favourite shares no matter what others have given the negative comment.","text":"$TSLA$ has always been one of my favourite shares no matter what others have given the negative comment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/219182585237528","repostId":1129322028,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":29,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}