10 AI News Investors Should Not Miss

4. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 99

Tesla, Inc. (NASDAQ:TSLA) is an automotive and clean energy company that leverages advanced artificial intelligence in its autonomous driving technology and robotics initiatives. On December 5, Bank of America raised its target price on Tesla, Inc. (NASDAQ:TSLA) from $350.00 to $400.00 and gave a “Buy” rating. The rating follows Tesla’s recent focus on robotics and artificial intelligence, highlighted as the key to its long-term development plan. The optimism follows analyst John Murphy’s recent visit to Tesla’s Gigafactory in Austin, Texas.

Murphy said that the trip gave increased confidence that Tesla is well-positioned to grow in 2025+, citing discussions with investor relations, a factory tour, and test drives showcasing Tesla’s technological advancements. In particular, Tesla’s Full Self Driving (FSD) technology stood out during the visit, with the Cybertruck and Model Y adeptly navigating construction zones and executing challenging left turns against traffic. Moreover, Murphy highlighted Tesla’s growing AI infrastructure, including 50,000 active Nvidia H100 chips as of October, which positions the company to potentially launch its robotaxi service by 2025.