Tesla rallied 6% on Monday after Morgan Stanley said its Dojo supercomputer could power a near $600 billion surge in the electric-car maker's market value by helping speed up its foray into robotaxis and software services.
Tesla, already the world's most valuable automaker, started production of the supercomputer to train artificial intelligence models for self-driving cars in July and plans to spend more than $1 billion on Dojo through next year.
"If Dojo can help make cars 'see' and 'react,' what other markets could open up? Think of any device at the edge with a camera that makes real-time decisions based on its visual field." Morgan Stanley raised its 12-18 month target on Tesla's shares by 60% to $400 - the highest among Wall Street brokerages, as per LSEG data - which, it estimated, would give the EV maker a market capitalization of about $1.39 trillion.
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