From Nasdaq: 2024-04-27 10:05:00

Tesla (NASDAQ: TSLA) reported a challenging first quarter, with a 9% drop in deliveries and a 13% decline in automotive revenue to $17.4 billion. Overall revenue fell 9% to $21.3 billion, with earnings per share down 47% to $0.45 and $2.5 billion in cash outflows. Despite this, the stock surged 12%.

Elon Musk’s pivot to view Tesla as an AI robotics company caused a positive reaction to the lackluster results. Musk highlighted Tesla’s focus on autonomy and AI technology, with plans for a vast fleet of robotaxis running on self-driving technology. He envisions Tesla vehicles running AI models when idle, akin to Amazon’s AWS success.

Musk’s vision for Tesla extends beyond electric vehicles, with plans for humanoid robots and a revolutionary robotaxi strategy aiming to transform the company into an AI robotics powerhouse. While some challenges exist, investing in Tesla under Musk’s futuristic vision could lead to substantial future growth potential.

With Tesla’s stock down significantly from its peak, now could be an opportune time to invest in the company’s ambitious AI robotic ventures. The innovative approach under Musk’s leadership aligns with a broader vision for the future of transportation and technology, potentially offering a compelling investment opportunity amid market fluctuations.



Read more at Nasdaq: Elon Musk Called Tesla an Artificial Intelligence (AI) Robotics Company. Does That Make It a Buy?