15 AI News Updates That Broke The Internet

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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, Bernstein analyst Toni Sacconaghi assigned a Sell rating on Tesla and set a price target of $120.00. Sacconaghi considers Tesla’s robotaxi project as a risky move, and said that the plan works too much on assumptions. The assumption is that self-driving technology will work perfectly, gain regulatory approval, and consumers will end up favoring robotaxis over owning cars. Moreover, even though there is a potential for robotaxis to be valuable, he said that there are many hurdles that Tesla must overcome, such as regulatory challenges and technological advancements. He also said Tesla’s current valuation doesn’t match the risks and sees no strong short-term growth drivers, leading to his negative outlook.

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