Nvidia plans to develop and sell autonomous driving systems for personal vehicles and robotaxis, impacting Tesla’s stock, which was down 5%. With increased competition in autonomous driving software, Tesla’s growth may be affected. Morningstar maintains a $300 per share fair value estimate for Tesla, viewing the stock as overvalued at current prices. Nvidia’s broader entrance into artificial intelligence may compete with Tesla’s humanoid robots.

Read more at Morningstar: Tesla: Shares Fall on Market Concerns About Autonomous Driving Competition from Nvidia