Tesla’s fourth-quarter results came as a slight disappointment for the world. The EV car maker’s shares slumped after the results. However, against all odds, Ark Invest’s Tasha Keeney says that Tesla’s AI opportunities are still a light in the night.

Tesla Q4 results disappoint market

Tesla’s fourth-quarter earnings came slightly lower than what analysts had expected the company to report. The firm posted earnings per share of 71 cents adjusted. Analysts on average had expected the company to report an EPS of 74 cents. The company’s Revenue came in at $25.17 billion, slightly lower than the estimates of $25.6 billion.

According to The WSJ, investors were focused on global demand for electric vehicles, as well as the profitability of Tesla’s automobiles. Although Tesla continued to be the world’s top seller of electric vehicles in 2023, China’s BYD overtook Tesla in Q4.

Tesla’s stock was down about 6% as of late.

Tasha Keeney sees Tesla still having great AI opportunities

Tasha Keeney, Director of Investment Analysis & Institutional Strategies at Ark Investment believes that Tesla’s results are not all that disappointing. According to her, investors are currently focusing only on the short-term effects of Tesla’s results. However, the focus should be long-term. Keeney also noted that Tesla’s plan to invest and grow into robot taxis could be beneficial for the firm. The current industry is expected to be a multi-trillion-dollar market. Keeney added that the market should currently be excited about these AI opportunities for Tesla

She also shed light on the fact that Tesla is the only EV manufacturing car company that has maintained a level of profitability. Additionally, she says that Tesla’s upcoming cost reduction could be another cherry on the cake that could drive good growth for the company in 2025. ,

Tesla’s AI push amid competition in EV markets

The demand for EV cards has moderated over the years. Though the market remains strong, the price competition remains strong. In the middle of this, Elon Musk the CEO of Tesla stated that he would find it difficult to lead the carmaker in robotics and artificial intelligence if he did not hold at least 25% of the company’s voting shares. If this voting power does go through, Musk will hold nearly double his present ownership.

Tesla is becoming more and more involved in robots and AI. Tesla’s extensive involvement in AI is demonstrated by products like Dojo, a potent AI supercomputer, and advancements in Autopilot and Full Self-Driving software packages. Additionally, Tesla’s dedication to progressing in this area is demonstrated by the early-stage robotics project, Optimus. It’s important to remember, though, that Tesla’s Full Self Driving and Autopilot systems are still categorized as driver-aid technologies because they do not yet possess complete autonomy.

 

 

 

 

The post AI News: Tesla’s AI Opportunities Could be the Greatest Story Ever appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am