AI

Tesla to Benefit Most from the Recent Artificial Intelligence Breakthroughs, Says Cathie Wood

Tesla to Benefit Most from the Recent Artificial Intelligence Breakthroughs, Says Cathie Wood

Image: Tesla

Tesla is positioned to benefit most from recent breakthroughs in artificial intelligence, says Cathie Wood. She believes that Nvidia Corporation is losing ground.

Cathie Wood, manager of exchange-traded fund ARK Innovation, said Nvidia was priced “ahead of the curve,” and that Tesla could benefit from recent advances in artificial intelligence. She dismissed Nvidia's goal of 25x sales by 2023, writing that other players on the market are likely to benefit more from the coming AI boom.

In particular, Wood paid special attention to Tesla, which, in her opinion, is the most obvious beneficiary of recent advances in artificial intelligence. She cited the firm's push for autonomous driving technology.

“In our view, $TSLA - at 6X revenues - is the most obvious beneficiary of the recent breakthroughs in #AI, as it aims for an $8-10 trillion revenue TAM in autonomous mobility by 2030,” Wood said in a Twitter.

The past week has seen Nvidia's stock soar, making the company the most valuable chipmaker in the world. The growth was driven largely by higher-than-expected first-quarter earnings, which Nvidia attributed to heightened interest in AI. This prompted Wood's reaction and her comments about the company's future development in the AI field.


As of May 26, Wood funds own a total of 325,062 Nvidia shares. The fund dumped about 79,000 shares in February and 65,000 shares last week. The total holdings of her funds in Nvidia are now around $127 million, based on Nvidia's last close on Friday.

© 2023, Eva Fox | Tesmanian. All rights reserved.

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Article edited by @SmokeyShorts; follow him on Twitter

About the Author

Eva Fox

Eva Fox

Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.

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