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Tesla Shares Surge
Tesla Inc (NASDAQ: TSLA) saw its shares increase by 6.8% on Monday, coinciding with a broader market rally in which the S&P 500 and Nasdaq Composite rose by 1.5% and 2.6%, respectively. This jump was influenced by Elon Musk’s tweets over the weekend discussing the company’s advancements.
AI Chip Developments
Musk revealed that Tesla has developed millions of advanced AI chips for its vehicles and data centers and plans to match Nvidia‘s update frequency by producing a new chip every 12 months. These innovations are intended to support Tesla’s self-driving and humanoid robot projects.
Current Valuation Critique
Despite the surge, analysts argue that Tesla’s current stock price, over $400, may not accurately reflect its financial performance, emphasizing that the company remains a carmaker and battery technology firm rather than a robotics leader.
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